Skey Network
Crypto Overview
Project Overview
Skey Network is a blockchain-based platform designed to facilitate smart access control and IoT device management. The project aims to create a decentralized infrastructure for managing digital keys and access rights for various physical and digital assets.
Intended Purpose
The SKEY token serves as a utility token within the Skey Network ecosystem, used for:
- Paying for access rights and digital key creation
- Network validation through staking
- Governance participation in network decisions
- Payment for services within the ecosystem
Current Implementation and Usage
The project has demonstrated some real-world implementation through partnerships with smart city initiatives and IoT device manufacturers. The platform allows for the creation and management of digital keys for various applications, from smart locks to vehicle access systems.
Business Model Analysis
The business model appears to be focused on legitimate technological utility in the IoT and access control space. The platform does not involve any inherently prohibited activities like interest-based lending or gambling. The revenue model is based on service fees and network usage, which aligns with Islamic principles.
Development Activity
The project maintains active development, though at a moderate pace. The team regularly updates their GitHub repository and has been working on expanding the platform's capabilities and partnerships.
Token Distribution
The token distribution appears reasonably balanced, with appropriate vesting periods for team allocations. There are no concerning patterns in token holder concentration that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in Skey Network 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 Skey Network.
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.