Ignoring the obviously bad pun, THEKEY is actually here to lock in your ICO choice… Ok, no more puns, I promise. This technology is set to revolutionize the personal identification using biometrics and goverment data on the NEO blockchain.

disclousure: I will be entering this ICO and will be envolved financially, don’t take this as a investment advice, do your own research before buying.

Transitioning ‘You’ from the real world to the digital world

Countries have the need to verify if that person really is who they are claiming to be, and nowadays you can find all sorts of fake ID’s, passports, etc… Well THEKEY with blockchain technology excludes the possibility of fake documents, if the person has the unique identification registered in the blockchain, than the government can confirm that is a true statement.

But how exactly could that be used?

Well, theres a large number of possibilities. You could see this technology with pensions, healthcare, bank accounts and contracts, flights and also shopping. All this services acquire the need to confirm the identity of the benefited person and the lack of technology envolved currently on this process costs a lot of money for these institutions.

Fraud is expensive

With not so much information about you, someone (also people inside institutions) could easily open a bank account in your name , or even fake your ID, insurance documents… The possibilities for fraud are endless. That puts this institutions in a vulnerable position, because legal action could be taken about this fraudulent acts and also the process to reverse the damage would obviously costs money.

But that seems too far from now, right?

Wrong, it is being trialed in 41 cities, with data on 210 million people in 66 countries. The trial process is using data from 130 million people and its being used for first level personal identification, like social security, social payments and health care. Among the institutions already signed are governments, leading firms, banks, insurance companies, labs and one university.

How the token works

THEKEY will launch on NEO, making this ICO as one of the first ones on the NEO platform. The token will be used as a smart contract and also for payments as a currency unit. Essentially, you need to be a token holder to settle these smart contracts, that could be used in contracts with banks and all sorts of contracts that you sign in your daily routine. If these contracts envolves payments, like any service, processes similar to health care reimburse and more.

Huge team and ‘Superstar CEO’

THEKEY has a team of 28 people including its CEO that is an award wining of the most outstanding women entrepeneur in China. Catherine Li, the ‘superstar’, is now responsible for policymaking and implementation of the project. The team has been established since 2014 and acquired 23 copyrights and 15 accepted patents on the technology. June this year is expected to launch the platform and in December the mainnet will be released.

If you want to get in the ICO or just learn more about it: http://goo.gl/HFMRYD