SelfKey Progress Report for October 2021

The last few days have been historical for SelfKey. The SelfKey POI Paper, published on Nov 08th, 2021, introduces tons of new proposals. The paper proposes a unique POI Platform, a new type of utility token called LOCK, a DAO, NFTs, and a lot more. Read all about that in the October edition of the SelfKey […]
10 Nov 2021
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SelfKey Progress Report October 2021

SelfKey POI Paper

The SelfKey POI Paper proposes a unique Proof-Of-Individuality Platform for decentralized identity verification and a special utility token called - LOCK, which would govern the POI platform.

The POI platform aims to resolve long-standing issues like Sybil attacks that plague the current governance systems.

The POI Platform relies on continuously retested credentials that ensure the individuality of its participants.

The paper also proposes the introduction of LOCK, a unique type of utility token called "work tokens." Participants of the POI Platform may earn LOCK for completing different tasks that would strengthen the POI Platform and network.

In addition, the SelfKey POI Paper proposes that the LOCK token holders with a POI Credential will form the LOCK DAO, which would govern the POI Platform.

Furthermore, the paper proposes the introduction of a special type of NFT called “Living Avatar NFTs,” which will help users to prove different attributes of their credentials.

The SelfKey POI Paper explains in detail how the flaws of the current governance systems could be rectified by preventing Sybil attack and creating a POI-based governance system that would eventually evolve into one with a unique governance mechanism.

SelfKey has always put community efforts in front and would like to hear your valuable opinions regarding these new proposals. Feedback on all the ideas and proposals explained in the SelfKey POI Paper is most welcome.

Read all about that in detail in the SelfKey POI Paper

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Partnerships

SelfKey had announced one partnership during the month of October.

Yada Wallets

We’re happy to announce that the SelfKey Wallet is now featured on Yada Wallets.

Yada Wallets is a search engine platform dedicated to cryptocurrency Wallets, with a focus on the adoption of Bitcoin and digital tokens throughout the world. The platform helps users find the right crypto wallet for using their Bitcoin and other digital tokens with a unique wallet finder function.

Read the announcement here.

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

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