SelfKey Product Progress Report February 2019
By: Terry Lin
Tags: Ethereum, Ethereum Blockchain, Digital Identity, Blockchain

Thank you for joining us with the second product update of this year. We’ve been hard at work getting the Incorporations marketplace ready for launch, including fixing the remaining bugs, preparing the help documentation, and step-by-step tutorials on how to use this new marketplace.

Incorporations Marketplace Preview

The Incorporations marketplace will initially launch with the following jurisdictions: Belize, British Virgin Islands, Cayman Islands, Cyprus, Hong Kong, Malta, Panama, Singapore, and Switzerland. On the main overview page, you’ll be presented with general information such as entity type, offshore tax rate, corporate tax rate, and what an entity in that jurisdiction is generally good for.

On the individual pages, you’ll have a much more in depth description on the location, who it’s ideal for, legal perspectives, tax information, country details, tax treaties with other countries, and more. Payment for incorporation services will be conducted in KEY tokens, with the pricing for each jurisdiction to be finalized upon release.

Launched: The Digital Identity Podcast

At SelfKey, one of our top priorities is to educate our community about the importance of both personal and digital identity. This podcast aims to steer you through those murky waters by providing insight into how personal information is managed and how we can provide a better alternative.

Episode #1: The first episode talks about how you don’t own your identity, and what this means when you interact with the digital world. It also affects your individual freedoms depending on where you live, and some of the challenges it presents in both a centralized and decentralized world.

Episode #2: In the second episode, we talk about how blockchains can solve the identity management issues and where they present an advantage (or disadvantage). How do blockchains deal with potentially bad actors and keep the network on the right track? What does it mean to have proof of ownership or authorship?

For future episodes, we will talk about industry issues such as security token offerings (STO), decentralized identifiers, and other proposals in the digital identity space. To subscribe and listen to the The Digital Identity Podcast, click one of the links below to your favorite podcasting platform:

Anchor (Link) | Google Podcasts (Link) | Spotify (Link) | Breaker (Link) | Pocket Casts (Link) | Radio Public (Link) | Stitcher (Link) | iTunes (Pending Approval)

News & Announcements

Bermuda’s First Regulated STO Uses KYC-Chain To Onboard Investors:

SelfKey and KYC-Chain (Founder of the SelfKey Foundation) have been building regtech solutions for years to empower financial institutions, exchanges, fintech startups and token sales, among others, to conduct rigorous yet streamlined due diligence on all of their customers while also allowing consumers to easily and quickly complete their KYC onboarding process.

tribeOS is launching FIRE, the very first Security Token Offering approved by the Bermuda Minister of Finance under the recently enacted ICO Act. tribeOS will use our compliance software to conduct KYC/AML and investor qualification checks on their investors. (Link)

LATOKEN Opens Deposits For KEY:

SelfKey’s native utility token KEY will be listed on LATOKEN imminently. The partnership with LATOKEN will present the platform’s 70,000 registered users with an even easier way of adopting KEY. Offering over 90 trading pairs and generating more than $25 million in turnover per day, LATOKEN has established itself as one of the top 30 exchanges by adjusted trading volume. (LINK)

SelfKey & KYC-Chain To Advise Bitbond On First Licensed German STO:

In the online lending space, the shift from Initial Coin Offerings (ICOs) to Security Token Offerings (STOs) is such a trend. That is why we are delighted to be advising Bitbond on the first German STO. The securities prospectus for the STO is written in compliance with EU Prospectus Regulation and was approved by BaFin, the German regulatory body for financial services. The STO is a public offering and is therefore the first of its kind.

With no legal precedent to give guidance, Bitbond approached SelfKey and KYC-Chain to provide advice on how to handle the delicate undertaking with regards to Compliance and AML. Over the course of the next three months therefore, we will be working closely together to ensure that customers are onboarded in a secure and compliant manner. (LINK)

Conclusion

Thank you for being a supporter of SelfKey and joining us on this journey. We look forward to achieving more milestones and partnerships in 2019 and will update you again next month.