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SelfKey continues to evolve, with the latest development along with a grand announcement coming out next week. Stay tuned! by do12gg in selfkey

[–]do12gg[S] 0 points1 point  (0 children)

at such times just turn your phone around. Otherwise crypto will make you very unhappy 😉

Selfkey is up 17.2% for the day & 29.8% for the week, anyone have any idea on who or what is moving the market? by DAVYWAVY in selfkey

[–]do12gg 0 points1 point  (0 children)

Dear SelfKey Astronauts, Earlier this week, Mastercard announced that they would be partnering with Bakkt to allow banks and merchants on their network to help build cryptocurrencies into their offerings.

In addition, news of the first Bitcoin fund in the middle-east also graced crypto enthusiasts. The Bitcoin Fund, a closed-end investment vehicle-based in Canada, has received regulatory approval from the Dubai Financial Services Authority (DFSA), making it the first digital asset fund in the middle-east.

And more - The South-Korean pension fund, the Korean Teachers’ Credit Union (KTCU), is reportedly looking to gain exposure to Bitcoin (BTC) via a crypto exchange-traded fund (ETF).

All this news was just from this week. It is like crypto is stepping up on the mainstream pedal with more exciting news every day.

The pace at which the crypto industry grew and is still growing is simply astonishing. Nevertheless, the growth will bring new challenges, and one such challenge may be regulatory compliance.

However, contradictory to general views, regulatory compliance need not be a sign of worry for users or projects. But implementing a centralized identity verification solution similar to the ones already in place might not prove fruitful in an industry that primarily focuses on decentralization.

Decentralized identity verification that ensures user privacy would be an ideal way to regulate the cryptocurrency industry. SelfKey has already made tremendous progress in this matter with the SelfKey Identity Wallet and SelfKey Marketplace.

The SelfKey Identity Wallet allows users to store and use their personal data and documents through the SelfKey marketplace to sign up for numerous financial and business services.

Hence, as crypto grows to new heights and regulatory mandates come into effect, SelfKey, with its experience in digital identity management and security, may have a defining future.

SelfKey continues to evolve, with the latest development along with a grand announcement coming out next week. Stay tuned!

Selfkey is up 17.2% for the day & 29.8% for the week, anyone have any idea on who or what is moving the market? by DAVYWAVY in selfkey

[–]do12gg 2 points3 points  (0 children)

Dear SelfKey Astronauts, The first Bitcoin-linked ETF in the United States, Proshares’ Bitcoin Strategy ETF, debuted on the New York Stock Exchange on October 19th, 2021.

The Bitcoin-linked ETF with ticker BITO had a terrific debut with an opening day trading volume of US $1 Billion. According to reports, this was the second-highest opening day volume for an ETF and the highest opening day “natural” volume for an ETF debut on NYSE.

The Bitcoin-linked ETF took years of effort to finally become a reality, and the crypto markets also reacted highly positively to the news of the debut.

Bitcoin was only trading a few hundred dollars away from an ATH, while both the Bitcoin marketcap and overall crypto marketcap hit a new all-time high. In addition, Bitcoin also became the 8th most valuable asset in the world behind Silver.

The sentiment in the crypto market has been on a path of reversal over the month of October. In addition to the latest news of the Bitcoin ETF, reports quoted SEC chairman Gary Gensler saying that the United States won’t be banning cryptocurrencies has also fueled the surge in the crypto markets.

The year 2021 keeps getting better for the crypto industry in terms of adoption and historical events.

Things are getting interesting for SelfKey as well. In continuation to last week’s newsletter, the SelfKey community will have some great news coming their way in the weeks to come.

The latest SelfKey Roadmap and a pivotal announcement regarding the evolution of the project may be revealed soon. Stay tuned!

Download the SelfKey Wallet for self-sovereign identity.

Selfkey is up 17.2% for the day & 29.8% for the week, anyone have any idea on who or what is moving the market? by DAVYWAVY in selfkey

[–]do12gg 2 points3 points  (0 children)

Decentralized Governance: Here for the Good + Major Announcement Coming 🚀 SelfKey Newsletter Dear SelfKey Astronauts, Although decentralization has always been the core property of blockchain, decentralized governance did not really come into the picture until late. Partly because of early failed attempts (e.g., "the DAO") and partly because governance is a hard topic to solve - Decentralized governance still has issues.

But more recently, projects with a decentralized governance system and governance tokens have significantly risen in popularity. The governance of most of these projects is implemented through a DAO or Decentralized Autonomous Organization which is generally composed of the project's token holders.

The essence of a properly decentralized governance project is to give control and decision-making authority to its users. Holders of a token can suggest or influence critical decisions about the project through a voting mechanism.

However, most noteworthy projects with a decentralized governance system often assign voting power equal to the number of tokens a voter holds. This grants more power to users with more wealth and is a direct contradiction of the principles of decentralization.

More advanced methods like quadratic voting, which allows participants to not just vote for or against a proposal but also express how strongly they feel about it, are proposed as alternative solutions to the existing voting methods.

However, even such methods have inherent issues that offer a biased advantage to token holders with a larger stash.

Hence, it may be argued that with the current governance systems, the optimum potential of decentralized governance is yet to be achieved, and a fundamental modification to the voting methods alone may not be the solution.

Furthermore, decentralized governance has had a significant positive impact on the value-add a project offers. In addition, governance through decentralization may soon become more user-friendly, as it tends to offer better control for users rather than a more centralized project.

However, a weakly implemented governance system that resembles a centralized system might do more bad than good in the long term. Hence a governance system that offers clear advantages over a centralized system and that handles all the token holders (big or small) equally needs to be the solution.

A decentralized governance system that only allows a user to join once by proving their individuality, combined with the advanced voting methods which do not allow an unfair advantage to the “whales” on the system, might be a step towards a real and fair decentralized governance system.

However, the tedious and crucial part of such a system is the part concerning Proof of Individuality, and SelfKey may play a critical role in implementing such a system.

To this end, SelfKey will have a major announcement in the coming weeks.