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ThreeFold Confirms Comprehensive Partnership With SelfKey / KYC-Chain

We are pleased to announce our partnership with ThreeFold – the first true peer-to-peer Internet.
15 May 2020
SelfKey
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May 15th, 2020 – ThreeFold is building a green and responsible peer-to-peer Internet that is available everywhere and owned by everyone – across geographical and cultural borders, offering data ownership and providing equal chances to learn, partake, and succeed.

They’ve developed and created a decentralized grid with 40M GB of storage capacity and 15,000 CPU cores that is live now across 21+ countries. Any workload that runs on Linux can run on this grid (Kubernetes and S3 compatible), with more speed and less energy, but most importantly, with all the advantages of true decentralization.

ThreeFold takes it even further. This decentralized grid of capacity is the home of 3Bot: A revolutionary digital avatar that is designed to execute all of your digital needs, under full control of your private keys. A definitive leap to true digital privacy, where only you manage access to your data. Autonomous, neutral, & private - everything changes with 3Bot. It can hold your DID documents under your full control, yet always online. Allowing your self-sovereign identity to be permanently online in full privacy. 

With this partnership, SelfKey will provide KYC services for identity-sensitive applications within the 3Bot ecosystem. This includes potentially providing a self sovereign identity to vulnerable communities and the unbanked people in the world, that were, so far, without banking solutions because of lack of valid documents.

Finally, ThreeFold plans to work with SelfKey’s sister company KYC-Chain, to safely onboard new users to its platform. The KYC-Chain software allows exchanges and other service providers to easily handle a large volume of customers in a compliant manner.

SelfKey and ThreeFold are exploring technical solutions on ThreeFold’s peer-to-peer Grid, including SelfKey being able to provide their users a way to have validated documents to remain online, through being kept exclusively managed by the proof’s owners. This way, the proofs can be available to third parties that use these documents in a KYC process, if consented by the document’s owner. Secondly, SelfKey and ThreeFold are exploring on developing an automated renewal process on these KYC proofs.

We are delighted to be working with ThreeFold, a platform that empowers equality, freedom, and sustainability.

About SelfKey

SelfKey is a leading identity management system that aims to return ownership over personal data back to the individual. To achieve this, SelfKey is building a rich identity ecosystem comprising the SelfKey Wallet, the Marketplace, Login with SelfKey and the KEY token.

About ThreeFold

ThreeFold is building the first true peer-to-peer Internet. They believe that equality, freedom and sustainability are key pillars needed to achieve peace and fulfilment of humankind's potential. Interested readers can learn more about ThreeFold here.

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