Self-Sovereign Identity for more Freedom and Privacy - SelfKey
3 minutes

Credit Suisse Collapse: Are You Safe?!

News about banks collapsing in recent weeks has taken over the internet. Following the downfall of several smaller banks in the US, the world is now faced with another financial disaster in the European space.  What’s going to happen to our valuable assets if this continues? 
23 Mar 2023

🚀 Dear SelfKey Astronauts, 

News about banks collapsing in recent weeks has taken over the internet. Following the downfall of several smaller banks in the US, the world is now faced with another financial disaster in the European space. 

What’s going to happen to our valuable assets if this continues? 

Credit Suisse has been Switzerland’s most powerful bank, along with UBS. Terrifying, yet not surprisingly, the fall of Credit Suisse means that billions of investments and assets could become worthless overnight! And yet, these two banks are about to merge together in one, big centralized system.

But how safe are we really out there, in centralized systems?!

Most centralized systems:

  • Do not listen to individuals’ concerns and needs.
  • Do not have a strong security method to protect our digital assets.
  • Do not allow users to be in full control of their personal data and assets.


✔️Decentralized systems:

  • Provide a secure space where individuals can engage.
  • Take every participant’s suggestions into consideration.
  • Promote transparency and equality among its members.

Thankfully, SelfKey is up to date with these devastating facts! SelfKey DAO is aiming to develop a secure, decentralized platform with the use of which individuals can keep their private data safe!

⚡The SelfKey DAO Whitepaper can teach you more about the benefits of decentralized systems.

This week’s article focuses on:

📢 SelfKey DAO member engagement system

The new engagement system aims to encourage participants to actively contribute to the DAO in order to maintain it. Not only will participants be able to have a say in the DAO, but they can mint tokens by doing so!

​Learn more​ about SelfKey DAO's engagement system, KEY and SELF tokens, and how to get NFT packs to customize your Normie!

The previous week’s article presents:

💎 SelfKey DAO: Revolutionizing Web3 Interactions

SelfKey aims to create a powerful ecosystem for its members to interact safely with one another. Users’ individuality is highly important to us, it is at the center of our ideals and goals when we think about the future of SelfKey DAO and its members. 

Learn more about DAOs, Individuality, our KEY and SELF tokens, and get a glimpse of our NFTs!

Crypto News

📰 ‘A financial banana republic’: UBS-Credit Suisse deal puts Switzerland’s reputation on the line

Following last week’s SVB collapse, Switzerland, one of Europe’s most financially stable countries, shocks the world with the collapse of one of their most powerful banks. Credit Suisse’s downfall can cause investments worth roughly 16 billion francs to become worthless.

Read more 

Quote of the week

"The greatest glory in living lies not in never falling, but in rising every time we fall." - Nelson Mandela

Thank you for reading SelfKey's weekly newsletter!

Stay tuned for more information on SelfKey's development towards a better future for all.

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SelfKey Protocol is maintained by a DAO of SelfKey iD Holders. Join us and help revolutionize identity management in Web3!


We believe the information is correct as of the date stated, but we cannot guarantee its accuracy or completeness. We reserve the right not to update or modify it in the future. Please verify all information independently.

This communication is for informational purposes only. It is not legal or investment advice or service. We do not intend to offer, solicit, or recommend investment advisory services or buy, sell, or hold digital assets. We do not solicit or offer to buy or sell any financial instrument. 

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

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SelfKey is a fast-growing DAO developing digital identity solutions. The DAO seeks to empower individuals and corporations to take back ownership of their identity data
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