SelfKey
Crypto Overview
Project Overview
SelfKey is a blockchain-based identity management system that aims to give individuals and organizations full control over their digital identity. The KEY token is the native cryptocurrency of the SelfKey ecosystem, used for accessing identity verification services, marketplace transactions, and governance.
Intended Utility
The KEY token is designed to facilitate transactions within the SelfKey ecosystem, including: Payment for KYC verification services, Access to the SelfKey Marketplace where users can apply for financial services, Staking for service providers, and Governance participation.
Actual Utility Assessment
The project has demonstrated real-world utility through partnerships with various financial institutions and service providers. The SelfKey Marketplace is operational, allowing users to apply for bank accounts, residency, and cryptocurrency exchange accounts using their SelfKey identity. Development activity remains ongoing, with regular updates to the platform and ecosystem.
Token Distribution and Governance
The token distribution appears reasonably balanced, with no concerning concentration among founders. There are established vesting schedules for team allocations. The project maintains transparency in its development efforts and resource allocation.
Technology and Revenue Model
The core technology focuses on identity management and verification services, which are permissible under Islamic principles. The revenue model is based on legitimate service fees and does not involve interest-bearing mechanisms or prohibited activities.
Crypto Impact
To assign a comfort level investing in SelfKey from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to SelfKey.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.