THEKEY, an identity verification project, has released a report on its initial MVP, which has been deployed to the NEO TestNet. THEKEY aim to create a “Blockchain based Dynamic Multi-Dimension Identification (BDMI)” solution that will allow people to verify their identity with “undeniable” and “unalterable” results.
THEKEY have already deployed identity verification services (IDV) to over 60 cities across China, working with regional governments to provide solutions to over 200 million people for process such as social security payments. These deployments feature first generation Dynamic Multi-Dimension Identification technology (DMI). The MVP released by THEKEY is the first step towards realising second generation BDMI solutions.
The BDMI MVP was delivered on April 30th, two months ahead of the scheduled end of June delivery, 2018. Two smart contracts have been deployed to the NEO TestNet:
Check Certification Contract
Script hash: 0x33ee36c712b37df8acfbda4a1beb165e100ed3e0
Check Payment Contract
Script hash: 0x2e05dc2c1d5780b3b7698944d0a59b3dc51efde3
The MVP application is for the purpose of authorizing mobile medical insurance payments in Kaifeng, China. Kaifeng is also one of the pilot cities already utilising THEKEY’s first generation IDV solution. The MVP report details the various architectural and business flow features of the dApp, which will see hospitals trigger IDV requests, which are then approved by the individual and sent to validators to confirm based on government validated data.
One unique feature of the MVP is the inclusion of a “Real-ID wallet”, that uses biometric data, such as facial recognition, fingerprints or an iris scan to trigger a private key. This would allow individuals to sign and approve transactions on the blockchain without needing to worry about passwords, remembering private keys, or loosing a device that stores a private key, such as a phone.
THEKEY note in the report: “We believe this real identity wallet technology will play an important role in anti-money laundering applications, which can lay a solid foundation for the healthy development of cryptocurrencies and the digital economy.”
Now that THEKEY has established the technical feasibility of the BDMI application, it will move onto performance enhancements, efficiency and reliability, and further R&D into hardware and devices required to operate the system.
Catherine Li, CEO of THEKEY has indicated that the MVP has received “tremendous positive recognition” and it has received a “national award on the development of blockchain technology“, of which the details are to be revealed in the coming days.
The full report can be read at the below link:
Ken Huang appointed chief technical specialist of World Blockchain Organization
In other news, Ken Huang, president of THEKEY, was appointed as the Chief Technical Specialist of the World Blockchain Organization (WBO).
The WBO is a non-governmental organization registered with the United Nations Department of Economic and Social Affairs (UNDESA). On its website, the group states that it is an “international advocacy organization dedicated to the promotion of responsible, sustainable and universally accessible blockchain technology.”
The website also outlines WBO’s two primary activities: blockchain research and the establishment of blockchain standards, including the implementation of a “Global Code of Ethics” for the blockchain community. The proposed code of ethics intends to “maximize blockchain technology’s socio-economic contribution while minimizing its possible negative impacts,” and is one of the United Nation’s seventeen Sustainable Development goals that cover a broad range of social and economic issues to be resolved by 2030.
Huang was appointed two other positions prior to joining the WBO. He was selected as a Distinguished Research Fellow and Lecturer of both the Big Data Blockchain and Regulation Technology Laboratory and the RegChain Laboratory of Renmin University, China.
More information on THEKEY can be found at the links below.