SelfKey Progress Report for November 2021

The POI whitepaper is still trending with thousands of views. SelfKey hosted a Telegram AMA for answering questions related to the POI whitepaper. All that and more in the November 2021 edition of the SelfKey progress report.
02 Dec 2021
Sree
Progress Report November 2021

POI Whitepaper Updates

The POI whitepaper published on 8th November 2021 introduced numerous proposals that could help SelfKey grow and evolve. The proposals included in the whitepaper are:

  • The POI Platform, An identity verification platform backed by verifiable credentials that aims to be Sybil resistant. The POI Platform would also let participants stake KEY tokens against their identity.
  • POI Credentials, based on the original idea of SelfKey Credentials, explained in the SelfKey Whitepaper. The POI Credentials would let the participants of the POI Platform verify their identity and personal details. In addition it would also be strengthened by the KEY tokens staked against it.
  • LOCK - a special type of utility token called "work tokens." LOCK tokens are earned by the participants of the POI Platform for doing network strengthening tasks such as validating other participants’ credentials or securing one’s own credentials. In addition to this, LOCK is proposed with governance properties.
  • LOCK DAO, a decentralized autonomous organization that is formed by LOCK token holders with valid POI Credentials. The LOCK DAO will have governance over the POI Platform.
  • Living Avatar NFT, a unique type of custom-minted NFTs that can be used by the participants of the POI Platform for identity verification. The Living Avatar NFTs allow complete control for the participants of the POI Platform to reveal personal details about themselves on the avatar, which would be verifiable on-chain. In addition, the Living Avatar NFTs have the potential to be critical for identity verification in the Metaverse.

All the proposals introduced through the POI whitepaper are to exist independently from SelfKey. However, the POI Platform, POI Credentials, LOCK, Living Avatar NFT, etc., would all utilize the SelfKey infrastructure.

The POI whitepaper has so far garnered thousands of views, and questions and feedback have poured in.

Read the POI whitepaper.

SelfKey had hosted a Telegram AMA on 25th November 2021 to address most of these questions, which were collected through SelfKey social media channels.

You can view the Telegram AMA summary here.

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SelfKey Wallet Updates

The latest version of the SelfKey desktop wallet v1.9.17 was released on 26th November 2021.

The following updates were included in the release:

  • Fix for Ledger and KeyFI connection issues.
  • Changes to improve communication between KYCC and relying parties.

Fresh Content

Living Avatar NFTs – The Identity Layer for the Metaverse

Living Avatar NFTs can form the identity layer that will be needed to make user interactions on the Metaverse credible. SelfKey’s contributions in this regard can hence prove pivotal in shaping the Metaverse future.

Read more here.

That’s all for this month. Stay safe, and Thanks for reading.

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