What is THEKEY?
BDMI combines both DMI technologies and blockchain technologies but THEKEY runs main because of the Personally Identifiable Information (PII) data whose access is authorized by the government.
THEKEY ecosystem comprises of TKY tokens, platform participants and Smart Contracts with the three main participants beingtransaction validators, Service Providers and platform users. The only way to settle smart contracts that have been signed by participants on THEKEY is through TKY tokens which is a utility token.
Some advantages of THEKEY include: lower cost, better user experience and more reliable results where the information gathered is in real time and accurate. THEKEY network is supported by NEO and comprises of smart contract, digital identity and digital asset. TKY is built on NEO blockchain and therefore it is an NEP-5 token issued to users when they provide personal data that can be retained and exchanged by validators.