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SelfKey Progress Report for August

August was another exciting month for SelfKey, as we successfully launched the Bank Accounts Marketplace - a way for you to open personal and corporate bank accounts across multiple, excellent jurisdictions.
05 Sep 2019
Chris Grundy
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The Bank Accounts Marketplace launches

Hello and welcome to the SelfKey Progress Report for August. It was a historic month for us as we launched another exciting vertical in the SelfKey Marketplace. On the 14th of August, the Bank Accounts Marketplace launched, allowing you to open both corporate and personal bank accounts in Singapore and Hong Kong from within the SelfKey wallet.

bank accounts marketplace

We are working with several banks in each jurisdiction to provide even more options for our community. In Singapore for example, we are working with seven different banks providing corporate accounts - each with different strengths and weaknesses. The screenshot below illustrates this point:

bank account option

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When clicked, you will see exactly what is included with the account and how long the processing time typically takes. Option number two for example, provides: 

  1. A business account
  2. Multiple currency support
  3. Mastercard Debit Card
  4. Internet and Mobile Banking 

bank account option

On the right hand side, you can see some of the requirements for opening a bank account. In this case, a personal visit is needed and the processing time takes 3-4 weeks. We endeavor to be as transparent as possible to ensure that you enjoy clarity from the outset. That being said, we’ve simplified the bank account registration process, but if anything is unclear, please feel free to get in touch via Telegram or the contact form

Once you’ve selected your preferred bank account, the rest is easy. Simply set up your SelfKey ID and fund your wallet with KEY tokens. Then it’s just a matter of reading through the information provided for each account, ensuring the required KYC information is there and submitting your application. 

The processing time will vary depending on which account and jurisdiction you select. Regardless of this, you will be notified of all developments via email. To get started with a brand new bank account, make sure to download the wallet today.

What’s next on the roadmap?

2019 has been incredibly productive for SelfKey. At the beginning of the year we launched the Incorporations Marketplace, the Digital Identity Podcast and re-launched the website. Since then, we’ve implemented a new DID Method - which has subsequently been accepted by W3C - and now launched the Bank Accounts Marketplace. As you can see, the SelfKey team is working tirelessly to push the boundaries of modern identity management and build an end-to-end ecosystem for our community.

Now we want to bring the year to a successful conclusion. To do that, we’re going to be moving into the Spaceflight stage of our roadmap.

selfkey roadmap

As a result, we will be focusing on creating an MVP for both a Mobile and a Corporate Wallet. The world is increasingly turning mobile and a mobile service will play a crucial role within the SelfKey ecosystem. We want our community to have access to SelfKey IDs, DIDs and the Marketplace on the go, through a native mobile application. 

Additionally, we’ve long identified a lack of corporate offerings within the blockchain space. Corporate wallets with sophisticated permission systems, document uploads and other key features are thin on the ground and we aim to help fill this gap. Stay tuned for exciting updates!

Partnerships in August

We are very happy to bring you a number of excellent new partnerships in August. 

1) Serenity Financial To Join The SelfKey Marketplace, List KEY & Integrate the SelfKey Extension

We’re delighted to have agreed a comprehensive partnership with Serenity Financial – the first blockchain escrow for financial and cryptocurrency markets. 

Serenity Financial’s innovative technology employs sophisticated transaction tracking, while protecting customer funds and delivering smooth dispute resolution. 

This service is crucial in the blockchain space and will make an excellent addition to SelfKey’s upcoming cryptocurrency exchange Marketplace. Thanks to this integration, SelfKey Wallet users will be able to access Serenity with just one click, utilizing a SelfKey ID to complete KYC. READ MORE.

2) AIS-X Confirms Comprehensive Partnership With SelfKey/KYC-Chain For Upcoming Mongolian Exchange

The blockchain powered identity management leader SelfKey has established a strong partnership with AIS-X. As Mongolia’s most exciting upcoming exchange, AIS-X will be integrating the SelfKey Extension in order to allow users to access the platform in a more secure and convenient way.

The SelfKey Extension enables SelfKey ID holders to log into third party services, while maintaining complete control over their data. More specifically, a SelfKey button will be displayed on AIS-X’s login page, which users only need to click to access the exchange. This type of one-click login is unique and will vastly improve the online experience of SelfKey ID users. READ MORE

3) Bitlocus To List KEY, Join SelfKey Marketplace & Integrate the SelfKey Extension

We are happy to announce our partnership with the crypto to fiat exchange, Bitlocus. 

Bitlocus is a state-of-the-art on and off-ramp for the cryptocurrency space. Users receive a crypto-tolerant IBAN that enables secure trading from within Europe. 

With this in mind, Bitlocus will list a KEY/EUR trading pair, providing simple token to EURO conversions to its growing user base. As the SelfKey ecosystem grows and the Bank Accounts Marketplace gets ready to launch, the availability of KEY is crucial to the long-term success of our mission. KEY can already be used to open a business abroad from within the SelfKey Wallet and other services will be added to the Marketplace soon. READ MORE.

4) Growing Exchange IDCM Lists KEY/USDT and KEY/BTC Trading Pairs 

SelfKey’s native utility token KEY is now available on the growing exchange platform IDCM. The initial trading pairs include the stable coin USDT and the leading digital token Bitcoin.

Founded in 2017, SelfKey is building a blockchain-based identity management system that will allow both individuals and corporations to protect their identity online. With the number of data breaches exploding in 2019, and more than 4 billion records already exposed, this mission is more important than ever. READ MORE

Let’s make September an even better month!

Those are the major updates for August. Thank you very much for reading and please feel free to get in touch with us via Telegram for any questions you may have, and share this progress report to spread SelfKey’s mission. 

Speak to you soon.

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