The POI Platform is a p2p decentralized identity verification platform that verifies someone is a living person and that lets participants stake against their identity.
The POI Platform is proposed to exist as an independent platform governed by a community DAO(LOCK DAO), utilizing SelfKey credentials.
The Selfie Game is a unique component of the POI Platform, which may let participants challenge other participants’ POI identity through gamification, which would reward participants who are honest and hardworking and penalize those who are dishonest or fake.
Unlike other “proof of personhood” platforms, which are not extendable with KYC – the POI Platform is built on top of SelfKey credentials and can be extended to additional credentials and more ‘traditional’ KYC concepts such as a valid government ID.
2. Will this new project have an impact on SelfKey?
The POI Platform may help SelfKey towards its vision of a self-sovereign future. For instance, when Relying Parties (for example, a DAO doing an airdrop) doesn’t want to require the use of government documents but still wants to ensure their users are unique, living humans – they might utilize a POI Credential.
Hence, the POI Platform may open up new partnership opportunities, further securing the existing SelfKey ecosystem, help prevent Sybil attacks, and perhaps other benefits that may potentially emerge through concepts like improving DAO governance and incentivizing user work, participation and voting in a more decentralized fashion.”
3. How does the POI Platform help SelfKey’s growth?
The POI Platform, LOCK token, Living Avatar NFTs are all proposed to coexist alongside the SelfKey ecosystem and should help contribute to its growth.
The POI Platform will require participants to stake against their POI Credentials. The POI platform might also help mitigate Sybil attacks.
In addition, the SelfKey POI paper proposes the POI Platform and the LOCK token to be a community governed project, with the introduction of LOCK DAO. LOCK token holders with valid POI Credentials will form the LOCK DAO and are aimed to improve upon existing governance mechanisms in crypto.
The ideas proposed in the SelfKey POI paper may also be adopted by other projects and adapted to their needs which may ultimately result in the implementation of more evolved governance and voting mechanisms. This could mean that SelfKey could continue to grow and may open up opportunities for huge, game-changing partnerships such as DAOs, social networks, and more.
4. What’s different about this POI system?
The POI Platform exists within the SelfKey credentials system, which also supports KYC using traditional government documents performed by certifiers (or credential issuers) on the SelfKey Network.
This enables the Relying Party using the POI Platform to be extensible with other SelfKey credentials and does not rely on a strictly POI-based (biometric, P2P) approach but can be tailored by individual projects on an as-needed basis.
In other words, if a Relying Party wants to make sure their users are unique but does not want to use identity documents for this, they might solely use the POI Credentials.
However, if another Relying Party wants to require a credential that states the user is not on a sanctions list, then it is possible to require this credential – allowing relying parties to have flexible identity requirements. The POI Platform is one more module in a modular system to solve identity verification issues in crypto, the Metaverse, and finance as a whole.
The POI Platform may initially function in one particular use case, with the goal that the system may evolve over time to handle ever-changing attack vectors.
5. Can we stake KEY to get LOCK? How can KEY holders stake KEY to get LOCK tokens?
The LOCK token is proposed to be a new type of utility token called “work tokens.” The only way to earn LOCK tokens is when participants do work on the POI Platform, which would help strengthen the network, such as validating other participants’ credentials or securing one’s own credentials.
In addition, the credentials on the POI Platform utilize KEY as a form of bond or collateral, meaning all credentials are backed by KEY tokens. The KEY token stake may also serve as a disincentive mechanism that protects against bad actors where KEY tokens will be forfeited in the event that the credentials submitted were discovered to be fake.