First of all, we would like to thank GO (username: @MightyMaoMoonDog) from THEKEY official group for coming up with this comprehensive question list which involved the most frequently asked questions. Please find the answers as below.
Q1：Are all current government contracts with TKY still intact?
A1：100%
Q2: What % of progress has been made with the Blue Paper since its release?
A2：>50%. As we stated before, the project is developing in accordance with the milestones set in the Blue Paper, but there’s delay due to the COVID-19 pandemic. We’ll make announcements when there’s significant achievement made.
Q3: Has a decision been made to change from the NEP-5 to ERC20 token?
A3: Not yet.
Q4: Has the team secured an ASEAN partnership or connection to the project?
A4: Still in progress. It’s being slowed down because of the corona virus breakdown, currently the situation in China is getting better but it’s still rather serious in other countries, including the countries we were in discussion for partnership. The discussions will be resumed when international travels and businesses are rebooted.
Q5: Will this partnership lead to possible use case for TKY token outside of China?
A5: Yet to be discussed
Q6: Is there a CEO for the TKY project?
A6: Yes, Dr. Yidong King is the key of THEKEY, and he’s also acting as the Chief Executive Officer of the project.
Q7: What is the current size of the TKY team dedicated to the project?
A7: >200
Q8: Possible barriers that exist for TKY project?
A8: Government regulations in regard of the use of cryptocurrencies.
Q9: China has stated that projects involved with ICO’s are illegal, how does this impact TKY’s ability to pursue a use case in China?
A9: No impact. THEKEY’s ICO was launched in Singapore and is under the jurisdiction of Singaporean law. So there’s no question for the legitimacy of THEKEY project. However, to use cryptocurrency such as TKY in mainland China has to follow the local regulations and laws, which is still under discussion for the moment. The Chinese government started to issue the stable coin for RMB, DC/EP in pilot cities such as Chengdu, Xiong’an, Shenzhen and Suzhou etc, which is rather a positive sign for the development of blockchain projects in China.
Q10: What is your confidence level that the TKY’s registration will be successful?
A10: 100% confident. This takes time as there are plenty of applications, the process also has been largely delayed due to the corona virus pandemic. Currently the status for our registration is still “in progress” on the website. And there’s no reason for us to fail the registration.
Q11: When does the team plan on holding the next AMA?
A11: To be informed. There are multiple progresses in development for the moment, we’ll hold an AMA when there’s significant achievement, and this may take several weeks. You’ll be well informed.
Q12: Dr. King stated there would be an improvement in communication with community members, how committed is he to implement a better approach?
A12: We do value the community management in great deal. That’s why we have provided constant and dedicated communication with the community since the very beginning. You’ll find our community managers and ask any question in working hours which is 9:00–18:00, 20:00–24:00 (Beijing time). Leave your questions or comments on our official channels as below and questions will be answered during the working hours.
Twitter: https://twitter.com/thekeyvip
Telegram: https://t.me/THEKEYOFFICIAL
Reddit: https://www.reddit.com/r/THEKEYOFFICIAL
Facebook: https://www.facebook.com/TheKey-1439094662870680/
Q13: Estimated time the website will be updated and refreshed with correct information and project information?
A13: The website is constantly being updated with new information. However we’ll not make a significant change to the website design in short term. If you encounter any supposedly false information, please contact us.
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, KuCoin, etc.
For more information, please visit:
Website: https://www.thekey.vip
Twitter: https://twitter.com/thekeyvip
Medium: https://medium.com/@thekeyvip
Telegram: https://t.me/THEKEYOFFICIAL
Reddit: https://www.reddit.com/r/THEKEYOFFICIAL
Facebook: https://www.facebook.com/TheKey-1439094662870680/
YouTube: https://www.youtube.com/channel/UCDuN2bjI7cAhoIIxJ_nTaCQ
