Nowadays, most identity systems are centralized, which makes them vulnerable to hacking. No matter how many security measures are put into place, hackers will always find a way to bypass the barriers. This is where centralized identity systems fail, as identity theft is a constant threat. When identity thieves steal someone’s identity, they can open bank accounts, apply for loans, and even access social media accounts. The SelfKey identity system aims to solve this problem. SelfKey Metaverse is a decentralised identity system that puts the power back to the individuals and allows them to own their personal data.
What is SelfKey Metaverse Tech?
SelfKey is a blockchain-based Self-Sovereign Identity (SSID) system that allows you to be the owner of your digital identity.
We keep important documents like passports and birth certificates or utility bills safely and securely at home. Likewise, with SelfKey Wallet, your identity data is securely stored locally, on your device, which makes it very difficult to hack.
All of your sensitive information is private and it's only shared with your consent. You grant permission to a third party to access your ID via a public/private key pair. In addition, the SelfKey Wallet is also capable to manage Ethereum and any other ERC-20 token.
The SelfKey Wallet, where you will store and manage your ID attributes, is available on desktop for Mac, Linux and Windows. After you've created your identity, you can register for various services in the SelfKey Marketplace. For example, you can register for a bank account, open a business abroad, apply for a loan, or even get documents notarized.
In conclusion, as a SelfKey user, you will have secure access to all of your identity information in one place, without having to trust a third party. You decide who can access your personal data and when.
What is SelfKey Price and Price Prediction?
The SelfKey native token KEY is an ERC-20 token, which is used as an access rights and payment unit within the network. Also, participants will need a certain amount of KEY to unlock marketplaces. This is known as proof of reputational stake and bonding. In addition, KEY will serve as a payment unit for the notarization of documents and goods and services offered by relying parties in the SelfKey marketplace.
The Selfkey price today is $0.015926 USD with a 24-hour trading volume of $128,071,366 USD. The token is up 11.94% in the last 24 hours. The current CoinMarketCap ranking is #535, with a live market cap of $79,630,642 USD. Furthermore, It has a circulating supply of 4,999,969,446 KEY coins.
DigitalCoin predicts that the price of Selfkey crypto will rise to $0.0218684752 USD by the end of 2021. The forecaster expects the coin to reach $0.0488665849 USD in 2025 and, eventually hit $0.0716911482 USD in 2028. Based on this forecast, Selfkey is a profitable long-term investment.
Note that the prediction algorithms can be wrong and the results do not represent any financial advice. That being said, they are still useful to get an idea of the direction in which the coin is heading and to make a decision on whether it is a good investment or not.
Stay tuned for more updates on the SelfKey Metaverse!