THEKEY Cooperates with Henan Province to Largely Enrich its PII Database and Application Scenarios TheKey Follow Jan 22, 2019 · 3 min read

On December 29th 2018, the Research into the Social Security Credit Model Construction and the Social Security Data Socialization (hereafter referred as “the Research”) was jointly established by Human Resources and Social Security Bureau of Henan Province, China Social Insurance Association (CSIA) and THEKEY. It will remarkably enlarge THEKEY’s interface of PII (personal identity information) and expand its real-world application scenarios.

The Research will focus on the following five domains:

1) Social Security Credit Model Construction. Tremendous social security data will be applied to build the Social Security Credit Model, provide richer and more diversified parameters to the construction of the credit evaluation system.

2) Social Security Data Socialization. Under the severe data security supervision mechanism, there will be more exploration and real- world application scenarios of Social Security Data Socialization.

3) Social Insurance Blockchain Applications. Featured by “traceable, undeniable and unalterable”, blockchain technology will be applied and considerably improve the efficiency, reduce the operational cost of the social insurance agencies, and expand the application scenarios of social security data.

4) Construction of Pension Service System. The Research will take full advantage of social security agencies and abundant social security data to facilitate services such as establishment and execution of wills, inheritance preservation and appreciation, intended guardian confirmation and etcetera. Meanwhile, the Research will investigate living situations and current pension services for the elderly, understand their needs, analyze existing problems, provide solutions, and establish an information -sharing mechanism, in order to provide specific, efficient and high-quality data support for the Pension Service System.

5) Third- pillar Pension Program Construction, Improvement and Supervision. As the supplementary of the pension programs of China Statutory Social Security Scheme and Enterprise Annuity, the Third- pillar Pension Program is mainly composed by various commercial insurance products. The Research will explore its feasibility and deployment in Henan Province.

According to the Agreement, CSIA will lead the Research and ensure its successful development. The Human Resources and Social Security Bureau of Henan Province will provide the social security data to facilitate the Research. As the exclusive technical service provider in the Research, THEKEY is dedicated to developing its proprietary Blockchain based Dynamic Multi-Dimension Identification (BDMI) technology, which processes social security data to generate real time, comprehensive, accurate and reliable IDV results, and exploring the deployment in the social security domains.

There are over 95 million people in Henan Province by the year 2017, which makes it the most populous province in China. The colossal social security data is quite valuable for the Research and will provide various real- world application scenarios for the future deployment. Moreover, it will remarkably enrich THEKEY’s PII database into 310 million people in 84 cities on a real-time basis, which constitutes a solid foundation of THEKEY’s IDV technology.

According to the development plan, the Research will be accomplished in July and piloted in some cities in Henan Province by December, 2019. After comprehensive evaluation, it will gradually be expanded and deployed in Henan Province by 2020.

About THEKEY

THEKEY is a decentralized ecosystem of Identity Verification (IDV) tool integrating national big-data and the blockchain. THEKEY’s proprietary Blockchain based Dynamic Multi-dimension Identification (BDMI) platform has been using Personal Identity Information (PII) exclusively authorized by the Chinese Government. THEKEY token (TKY) is the only method to settle smart contracts across THEKEY Ecosystem, which is tradable on HitBTC, Bit-Z, KuCoin, Lbank and LATOKEN, etc. THEKEY mainnet was launched in Nov 2018. THEKEY was granted the National “Technology Innovation Award of 2018 Chinese Government’s Information Product”; won the International Competitive Bidding co-launched by People’s Bank of China and Nanjing Municipal Government, and achieved social security data socialization and commercialization for the first time in Kaifeng, China.

For more information, please visit:

Website: https://www.thekey.vip

Twitter: https://twitter.com/thekeyvip

Medium: https://medium.com/@thekeyvip

Telegram: https://t.me/THEKEYOFFICIAL

Reddit: https://www.reddit.com/r/THEKEYOFFICIAL

Facebook: https://www.facebook.com/TheKey-1439094662870680/

YouTube: https://www.youtube.com/channel/UCDuN2bjI7cAhoIIxJ_nTaCQ