THEKEY (TKY) is a decentralised identity verification ecosystem. THEKEY has been working with six national laboratories, has signed commercial contracts with enterprise leaders, has obtained and provides real-time personal ID data of 210M people in 66 cities and is currently piloting its IDV solution for mobile social insurance in three cities with plans to deploy in another 41 cities to cover 130M people.
TKY is currently trading at just 0.01 USD. NouVive’s traders believe that TKY could significantly appreciate in the months to come.
How it works
It provides an Identity Verification Tool (IVT) utilising national big-data and blockchain technology. Its team is currently developing an IVT tool with Blockchain Based Dynamic Multidimension Identification (BDMI) by using Personally Identifiable Information (PII) which is exclusively authorised by government authorities. Its token serves as the sole method for settling smart contracts between participants in any THEKEY ecosystem. TKY mainnet is expected before the end of 2018 and is currently traded on smaller exchanges such as Bit-Z, LBANK and KuCoin.
THEKEY won a national award in technology innovation in 2018. Its CEO won a national award for The Most Outstanding Entrepreneur in China and was counted amongst the Ten Most Influential Chinese Women of the Year by the All–China Women’s Federation 2017, which also awarded THEKEY The Most Valuable Commercial Project of that year. We also appreciate THEKEY’s budding community on Reddit.
Partnership with the Taikang Group
Normally, cryptocurrencies are equipped with bold promises but lack the industry partnerships which are often instrumental in honing projects to success. On 30th May 2018, TKY partnered with the Taikang Group for the provision of IDV services to aid the direct and rapid settlement of commercial insurance. This is in addition to a string of recent contractual collaborations with elite global insurance companies, including the Reinsurance Group of America (RGA), China Pacific Insurance (CPIC) and China Re. The partnership with Taikang is significant because it has consistently ranked among China’s Top 500 companies for 14 years straight and is a business leader in the fields of insurance and asset management.
TKY will provide Taikang with integrated IDV, Medical Term Standardisation (MTS) and Claim Process Automation (CPA) capabilities to aid with direct and rapid, online medical insurance settlement. This has local and global significance because the current paper-based medical claim system requires manual audit, is time and labour intensive and provides a relatively poor user experience. TKY changes this through its system because the IDV system is cross-checked by relevant government departments, with immediate settlement upon a positive result leading to an efficient and cheaper system for medical claim settlement. The data is well-protected and TKY acts in compliance with all relevant regulations.
With this partnership with Taikang and TKY’s team developing a 2nd Gen IDV solution for its proprietary BDMI tech designed to create Smart Medical Insurance Pay with existing success in Kaifeng earlier this year, TKY aspires to takes its IDV services to an “undeniable and unalterable” level. These are bolds claims which are made believable by the tangible strides THEPAY project has in recent months.
NouVive’s team of traders recommend investing in THEKEY. TKY has a competent team with strong institutional and enterprise partnerships, access to a dearth of government data and presents a solution to a the very real issue of identity verification, particularly for medical claim settlements. It is seriously undervalued currently, and we expect to see significant appreciation in this second half of 2018.
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