Over the past two years since THEKEY White Paper was released, a series of remarkable achievements have been achieved in accordance with the roadmap described in the White Paper. We successfully developed the world’s first identification tool — BDMI based on national big data and blockchain technology and BDMI’s corresponding real identity wallet, and enhanced private key management technology. We completed the MVP and mainnet construction on schedule and applied them to the practice of Chinese social insurance.
In the meantime, as we dig deep into the project, challenges appear to be even more serious than we expected. The essence of blockchain is a distributed ledger, which guarantees safe, reliable and efficient digital currency issuance and transaction through a series of technical measures such as distributed data storage, P2P network, consensus mechanism and encryption algorithm. But this is completely different from the data environment and application scenarios THEKEY is facing. Therefore, to make THEKEY great, we must face and effectively deal with the following three major challenges.
First, THEKEY’s public chain construction program.
Second, the data secure sharing between nodes in the decentralized community.
Last but not least, a solution that enables THEKEY to achieve profitability in short term and to be rapidly replicated and promoted on a large scale.
In order to overcome these problems, we have been through arduous attempts since June 2018, and thus formed the basis of THEKEY Blue Paper 2019. Based on the achievements we have made, THEKEY Blue Paper 2019 focuses on the three challenges mentioned above and offers an integrated technical solution in consist of THEKEY blockchain solution, the selected node solution and the secure access to any point in the cyberspace. An enhanced ecosystem construction plan has been elaborated in the Blue Paper which is based on the technical solution to enable THEKEY to achieve profitability. And in addition, we have illustrated the specific work plan in support of the execution of the Blue Paper.
Compared to the White Paper, the tasks in THEKEY Blue Paper are more formidable and intricate. To confront the unexpected situations ahead with even more advanced and efficient execution ability, we have introduced talents, Key Opinion Leaders and experts from related fields into THEKEY team.
To view the whole version of THEKEY Blue Paper and the supporting documents and codes, please click on the following link: https://www.thekey.vip/#/AnnouncementDetail/6a98ac0f472f6a98ac0f4731asw10752
About THEKEY
THEKEY is a decentralized ecosystem of Identity Verification (IDV) tool integrating national big-data and the blockchain. THEKEY’s proprietary Blockchain based Dynamic Multi-dimension Identification (BDMI) platform has been using Personal Identity Information (PII) exclusively authorized by the Chinese Government. THEKEY token (TKY) is the only method to settle smart contracts across THEKEY Ecosystem, which is tradable on HitBTC, Bit-Z, KuCoin, etc.
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