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Today – The Illusion of Access
ID is everywhere these days. With each new service, there’s a new ID system utilizing a card, gadget, software or a combination of these. Holding all of these items we feel safe, secure, and powerful. But without them, what can we use?
If it’s my points card at a store, not a big deal. I miss out on some points. But what if it’s my bank card, local ID card, social security card, or my mobile phone with 2-factor authentication software? It’s amazing what essential services we lose in this day and age by simply losing our phone or wallet.
Now we can simply say, I would never lose those things. And when life is in our control, we can guarantee that. But how about when life is not in our control. These items we need to access essential services are often lost. Without them we lose our identity and the privileges that come with it.
We need one key to these services that we cannot lose. It needs to be undeniable, unalterable and universally acceptable for the services we need most.
THEKEY MVP/Testnet – The Beginning of the Universal Key to Essential Services
Using Blockchain based Dynamic Multi-Dimension Identification (BDMI) technology, THEKEY has created the first true real-world implementation of this for Smart Medical Insurance Pay in Kaifeng, China. It’s fast, accurate and requires only you. Simply by pressing a button and looking into a camera for a few seconds, the system knows:
- who you are.
- what medical insurance you have.
- what your medical history is.
With this information, medical professionals can give you the treatment you need. No cards, gadgets or software necessary.
Speed – Using a combination of IPFS, private and public blockchain technologies, the service operates just as fast as centralized services.
Who you are – THEKEY project is connected with personal identity data of 210 million people in 66 cities of China, authenticated by the relevant government authorities, on a real-time basis, which constitutes a solid foundation of IDV.
Your medical history – Decentralized Apps are used to request medical history data from hospital HIS systems and store them on IPFS. This provides a universal medical record that can be accessed by any hospital.
Your medical insurance – Decentralized Apps are used to access medical insurance records. Users provide payment to the hospital using TKY.
No additional equipment required per user is a massive advantage that yields the following benefits:
- More reliable results – The supporting data is gathered in real time, is comprehensive, accurate and reliable. The data is also validated in advance by government agencies or other public institutions.
- Lower cost – Full use of existing data sources. Avoidance of duplicate work for data collection, processing and authentication,
- Better user experience – It is not necessary for individual users to install any application or upload any information.
This system can be implemented at a national scale with an ease that no other IDV solution can match.
Tomorrow – “THE KEY” to Essential Services
Using the MVP/Testnet, THEKEY has this revolutionary system launched in one city today. This is a feat that no other solution can claim. When mainnet is ready later this year, more IDV scenarios will be involved other than smart medical insurance pay.
China’s President Xi Jinping’s recent pro blockchain speech shows that China intends to become a leader in the blockchain world. Having the highest population of any country in the world, the efficiencies gained from blockchain could give them the greatest benefits at a national level.
However, China is also the country that has banned cryptocurrencies in most respects from local use to protect its citizens. As stated by THEKEY in an AMA, they are having a discussion with the government including central bank to sort out a solution for this issue.
THEKEY uses government authenticated ID as a core element of their system – solid proof that they are working with the Chinese government. In order for THEKEY’s technology to work and be applied to entire cities, it must be government compliant.
Will Bitcoin ever succeed in China? Who knows? With the release of the MVP/Testnet, THEKEY has proven that they already have.
For further info contact:
Marc Bell | [email protected]