Maintaining the privacy of our personal data is crucial for our safety and the safety of our loved ones as we navigate the online world. However, the question arises: how anonymous can we be before losing our sense of “self” in the sea of faceless identities?

ESelfKey introduces a possible solution with Customizable Non-Fungible Tokens (NTFs), called Normies.

ESelfKey iD may be the best approach to managing digital identities with the data owner at the helm. And, by attaching Normies to a ESelfKey iD, individuals may be able to build the outer layer of their online identity. With a wide variety of digital assets that can be combined in countless ways, Normies can be designed directly by the user, so that they will fit the user’s personal preference or needs. 

This way, individuals may continue to express their personality and creativity online, while keeping the security of their valuable, private information.

In this article, we will thoroughly explore the possibilities SelfKey’s NFT packs offer, as well as how to obtain and mint them.

Highlights

• ESelfKey iD and NFTs
• SelfKey’s Customizable NFTs
• NFT packs and How to Obtain Them
• NFTs and Web3
• Conclusions

ESelfKey iD and NFTs

A brief introduction of ESelfKey iD

ESelfKey iD is an innovative approach to online identity verification which may be a better solution than traditional KYC (know your customer) checks. It emphasizes digital security and privacy, so that individuals may safely navigate the online world.

One of the key benefits of ESelfKey iD is its ease of use and affordability, which may make it more accessible to users. The overall process is streamlined and easier, removing the need for complex and time-consuming traditional KYC checks. This may not only save time for users but also reduce costs associated with the verification process.

Additionally, the onboarding process with ESelfKey iD is quick and efficient, which may enable users to establish their online identity swiftly. 

Furthermore, ESelfKey iD eliminates the need for repeated collection and storage of personally identifiable information (PII). Existing KYC checks are reused, which may lower the risk of PII display and reduce the potential for identity theft. This may enhance the overall security and privacy of users' personal information, which is crucial in today's data-driven world.

All in all, ESelfKey iD may provide a more accessible, efficient, and secure solution for establishing online identity while enhancing user privacy. 

ESelfKey iD and NFTs

The ability to customize one's digital identity can be a powerful tool for self-expression. Individuals may be able to showcase their personality, creativity, and style in the online world. 

To increase user-friendliness, ESelfKey introduces a unique feature that allows users to attach a distinct NFT series to their ESelfKey iD profile picture. This innovative component may not only add a touch of personalization and originality to the user's digital identity but it also reflects the growing trend of NFTs in the crypto space. 

By embracing the boundless possibilities of this new element, individuals may have the opportunity to develop a digital avatar that perfectly aligns with their unique preferences and interests.

This customization aspect may empower users to truly own and personalize their digital presence. Such an element may result in a sense of ownership and confidence in their virtual identity. Furthermore, it may lead to a more immersive and enjoyable user experience. Members can express themselves in a way that reflects their individuality while increasing their privacy.

The addition of the NFT series feature to the ESelfKey iD platform is a testament to ESelfKey's commitment to user-friendliness, personalization, and innovation. 

SelfKey’s Customizable NTFs

The Normies Project

The Normies Project aims to offer individuals an unparalleled experience in the world of digital assets. It consists of two well defined NFT collections, each with its own unique features and offerings:

• Base NFTs
• Wearables

What are Base NFTs?

Base NFTs are equipable avatars that can be personalized with wearables to dress up one’s Normies. With Base NFTs, all verified users  may have the power to mint their own avatar. As there is no maximum supply, Base NFTs allow for limitless creativity and customization.

As an added bonus, every ESelfKey iD owner will receive one free Base NFT, making it accessible to all. 

Users may express their individuality by customizing their own avatar with a wide range of wearables. Furthermore, they may use their Normies in virtual spaces, social gatherings, and gaming adventures.

How to obtain a Base NTF Avatar

Obtaining a Base NTF Avatar may be an exciting step towards personalizing your virtual identity in the metaverse. 

The process is rather simple:

1. To begin, you'll need to go through a simple verification process.
2. Once you're verified, you'll gain access to the standard customizations available for your Base NFT Avatar. This may allow you to create a unique digital representation of yourself.
3. After customizing your Base NFT Avatar, you can mint it for free, making it officially yours in the virtual world. 
4. With your Base NFT in hand, you have the option to further enhance your avatar by purchasing wearable packs. Community members may sell these packs, along with individual NFTs, on OpenSea and other popular NFT marketplaces.

These wearables and NFTs may help you express your personality, interests, and style within the metaverse. Likewise, they may add a layer of originality and individuality to your digital presence.

What are wearables?

Wearables are an exciting addition to the world of NFTs, offering users the ability to further customize and personalize their Base NFT avatars.

From hairstyles to shirts, hats, and beyond, wearables come in various categories, allowing users to express their individuality and style in the metaverse. By adding wearables to their Base NFTs, users can increase the rarity of their NFTs, making them even more unique.

Obtaining wearables is typically done through NFT packs. These packs may contain a wide selection of digital items that users can add to their avatars. The packs may also allow users to acquire new wearables to enhance their Base NFT avatars. This way, users may feel a thrilling experience of discovery.

With wearables, users have the power to transform their digital personas into something truly one-of-a-kind. This gives users a good opportunity to showcase their creativity and personality in the metaverse. All in all, wearables are a key tool in personalizing Base NFT avatars to make them truly original and special. Customization includes, but is not limited to: trendy hairstyles, stylish shirts, or fashionable hats. All of which may make your NFT reflect your uniqueness.

NFT Packs and How to Obtain Them

Purchasing NFT packs

Users have the option to purchase NFT packs, which contain a curated selection of wearables to customize their Base NFT avatars. 

Depending on the chosen pack, users may reveal up to 10 different wearables, from hairstyles to shirts, hats, and more. The number of packs users can buy have no limits, which may offer members endless chances to design their NFTs.

Users can buy NFT packs, or redeem NFT packs using SELF tokens, minted by performing tasks that benefit ESelfKey DAO. This unique approach allows users to actively participate in the community. Active participants may mint tokens that can be used to obtain NFT packs and further customize their Base NFT avatars.

Alchemy

Members have the option to use their duplicate wearables for a chance to generate super rare wearables, adding an exciting element of rarity and exclusivity to the customization process. By utilizing duplicates, users can participate in a special feature that regulates the number of wearables in existence. This element may make them even more original.

This feature adds an element of gamification to the NFT experience, allowing users to engage in strategic decision-making to potentially unlock unique and highly coveted wearables.

Such an innovative approach may encourage users to actively manage their collection. Simultaneously, it contribute to the rarity and scarcity of certain wearables, making them highly desirable among collectors. 

It may be an exciting way for users to participate in the evolution of their NFT ecosystem and potentially obtain one-of-a-kind, super rare wearables to further customize their Base NFT avatars.

Expansion Packs

With changing seasons, exclusive and time-limited collectible NFTs may be introduced into the packs. These limited-edition NFTs offer a unique opportunity for users to acquire rare and highly sought-after digital assets that are only available for a limited time.

With each new period or season, the NFT packs may be updated with a fresh batch of exclusive collectibles. This may add excitement and anticipation to the design process. These limited-edition NFTs may feature special designs, themes, or functionalities that are only available for a specific timeframe. This method may create a sense of urgency and exclusivity among collectors.

Users who are eager to expand their collection and obtain unique NFTs may be motivated to keep an eye out for these periodic updates and seize the opportunity to acquire these exclusive assets before they are no longer available. 

This dynamic and ever-changing aspect of the NFT ecosystem adds a layer of excitement and rarity to the customization experience, allowing users to continually enhance and evolve their Base NFT avatars with new and exclusive collectible NFTs.

NTFs and Web3

In the future, Normies may play a significant role in Web3 games, granting access to exclusive areas within the games and providing bonuses to the play-to-earn rewards. 

These digital assets will serve as keys to unlock special traits, areas, or uses that are otherwise out of reach to regular players. By owning specific NFTs, players may gain entry to exclusive areas of the game world, revealing hidden treasures, unique challenges, or rare resources and bonuses. 

This integration of NFTs in Web3 games may add a new side of ownership and utility to these digital assets. Furthermore, it may allow players to not only design their Base NFT avatars. At the same time, it may also enhance their gameplay and overall experience. 

It creates a favorable relationship between NFT holding and in-game achievements. This may incentivize players to collect and utilize these digital assets to gain an edge in the virtual world.

Conclusions

ESelfKey iD may offer a diverse range of assets that can be utilized for customization, allowing us to express ourselves freely in the online world while striving to safeguard our private information from prying eyes. 

With ESelfKey iD, we may confidently navigate both Web2 and Web3 spaces, knowing that our data may remain under our personal control and ownership. However, we can still make ourselves stand out and be recognized by our unique and one-of-a-kind NFTs.

By utilizing ESelfKey iD, we may strike a balance between privacy and self-expression, creating a personalized online presence while increasing control over our sensitive information. Overall, it may be an ideal way to operate in the digital world with confidence and freedom.

Stay up to date with ESelfKey on Discord, Telegram, and Subscribe to the official ESelfKey Newsletter to receive new information!

Note: 

We believe the information is correct as of the date stated, but we cannot guarantee its accuracy or completeness. We reserve the right not to update or modify it in the future. Please verify all information independently.

This communication is for informational purposes only. It is not legal or investment advice or service. We do not intend to offer, solicit, or recommend investment advisory services or buy, sell, or hold digital assets. We do not solicit or offer to buy or sell any financial instrument. 

SELF tokens have no monetary value and are not ascribed any price or conversion ratio by ESelfKey and its affiliates. Additionally, SELF tokens do not confer any right to participate in any profits or revenues or represent any ownership interest. SELF tokens may have value and utility solely within ESelfKey.

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

We use the "KYC" term here for general information purposes, without reference to particular legislation. Please check the laws relevant to you and contact us for the details.

Nowadays, Decentralized Autonomous Organizations (DAOs) are becoming more and more popular due to the many benefits they offer. These include creating a safe environment for individuals to interact with one another. as well as equality and transparency among its members. 

Despite the potential of DAOs, however, many struggle with a lack of user participation. Without active engagement from its members, decision-making and growth can be delayed, and the DAO's decentralized structure can decline. 

Thankfully, ESelfKey DAO is addressing this issue by developing an engagement system that aims to keep its members active and involved. By motivating participants to regularly engage within the DAO, the DAO itself will become more active and successful.

In this article, we will elaborate on the ESelfKey DAO Engagement System, its benefits, and how members can participate in the DAO in order to mint tokens.

Highlights

• The ESelfKey DAO Engagement System
• How the ESelfKey DAO Engagement System Works
• How to participate in the ESelfKey DAO
• The Benefits and Uses of Work Tokens
• Conclusions

The ESelfKey DAO Engagement System

Introduction

The ESelfKey DAO’s Engagement System is an innovation that offers a wide variety of benefits to its valued members. One of the main advantages of the ESelfKey DAO Engagement System is that active members can mint tokens for their contributions and involvement within the network. 

These tokens can be used to access various services within the ESelfKey ecosystem, such as buying NFT packs to customize NFTs, as well as buying ESelfKey ENS domains. 

How the ESelfKey DAO Engagement System Works

A brief definition

The ESelfKey DAO Engagement System is designed to facilitate users to mint work tokens for their active participation and positive behavior in the DAO. Participants who contribute valuable resources, such as time, skills, or suggestions, are recognized accordingly. 

ESelfKey DAO offers numerous benefits to its users, including a secure and decentralized platform for managing digital identities. Even more, participants are incentivized to work together towards common goals. This builds a strong sense of community and collaboration within the DAO.

The ESelfKey DAO Engagement System and Individuals

Tokens minted within the ESelfKey DAO Engagement System represent a powerful tool for promoting growth and adoption of the DAO. 

The DAO offers active members the possibility to mint tokens and have their contributions recognized. This helps the organization attract and retain high-quality talent and resources. In turn, it can enhance the quality and effectiveness of the services offered by the network.

Overall, the ESelfKey DAO Engagement System aims to empower participants to create a strong, collaborative community committed to the success of the DAO. The long-term goal of the DAO is to be able to build a space for innovation and creativity, while also driving growth and adoption of its services.

How to participate in the ESelfKey DAO

To fully benefit from the platform's Engagement system, users need to participate actively in the DAO's general governance and decision-making processes.

There are specific tasks which participants of a DAO can do in order to mint work tokens and help maintain the DAO.

How to keep the ESelfKey DAO active and mint work tokens

Member engagement is a key necessity in order to benefit from an active platform. Aside from contributing to the overall well functioning of the ESelfKey DAO, active members have the opportunity to mint work tokens by completing certain tasks. 

At the moment, there are some essential activities that participants can perform to help ESelfKey DAO in achieving its goals. 

Here are some examples:

• Invite Friends.
• Post social media (SM) messages generated by the system.
• Engage with the official ESelfKey SM posts.
• Be active in the official discord channel.
• Stake on own credentials to increase security and reliability of the system.
• Help with developer and designer tickets based on DAO grants.
• Showing initiative and creativity in developing new ideas or solutions.

Invite Friends

Inviting friends to join ESelfKey DAO can increase the membership and participation of the platform. This could offer more resources for the system, as friends could potentially bring in new skills and connections.

If more people join ESelfKey DAO, the network security of the ESelfKey ecosystem can grow. The benefit of this is that it can potentially result in greater visibility, influence, and impact within the larger community. 

Even more, a constant flow of new participants to the DAO can be a valuable strategy for expanding and strengthening it. It can increase its resources and capabilities, and build a more powerful sense of community and collaboration among its members.

Post social media (SM) messages generated by the system

It’s highly important for members to actively post SM messages generated by the system in order to boost the visibility of ESelfKey DAO and its activities. This way, participants can help expand the ESelfKey network by bringing awareness to the platform and its goals.

By using system-generated Social Media messages, ESelfKey DAO can make sure that its content is consistent and on-brand. This can help create credibility and build trust among the community.

Another benefit of SM messages generated by the system is that it can be more efficient than manually creating and posting each message. This can save time and resources, allowing members of the DAO to focus on other important activities.

Engage with official ESelfKey SM posts

Engaging with official ESelfKey SM posts could help members stay informed with the latest official news and connect with others participants.

It allows members to make informed decisions, increase their visibility, and potentially attract new business opportunities. Participants can also give constructive feedback, which can lead to platform upgrades that could benefit the entire community. 

Additionally, by engaging with official ESelfKey SM posts, active members can gain access to exclusive content or benefits that are not available anywhere else.

Be active in the official Discord channel

The ESelfKey Discord channel is a community hub where users can connect with other members of the ESelfKey community. 

Participants who stay active in the channel can engage with other individuals, share ideas, and collaborate on projects. Even more, active members can quickly get answers to their questions and find solutions to almost any problems they may encounter.

Our official discord channel is often the place where ESelfKey DAO announces and hosts various events and activities. Therefore, keeping up with the channel and actively participating in discussions, members can stay up-to-date with important news and information.

Showing initiative and creativity in developing new ideas or solutions

By showing drive and creativity, active members can help develop new ideas and solutions that will help the DAO grow. This can be anything from suggesting new features for the DAO's platform to proposing fresh methods for community governance.

Stake on own credentials to increase security and reliability of the system

By certifying that members have a deep-rooted interest in safeguarding their own credentials, the overall security of the system can be enhanced. This can also minimize the risk of credentials being lost or stolen, as well as help keep participants safe from identity theft or other security breaches.

Another advantage of staking is that it can increase the credibility of the system by motivating participants to make sure that their credentials are valid and up-to-date. This method may prevent errors or mistakes in the data, thus reducing delays or issues when using the platform.

Help with developer and designer tickets based on DAO grants

One of the key benefits of offering a grant within ESelfKey DAO is that members can mint tokens for their contributions to building the project. 

Helping with developer and designer tickets can improve the overall quality of the platform. By addressing technical issues and making improvements to the design, the platform can become more user-friendly, efficient, and effective. 

This can aid in attracting new users and retaining existing ones, as well as drive the growth of the DAO.

One way that members can contribute to the DAO is by delivering on development, design, and QA bounties based on grants. 

These bounties encourage members to tackle specific tasks that have to do with the development, design, and testing of the DAO's software. Participants can work together or individually to deliver high-quality work that meets the needs of the DAO and its community.

The Benefits and Uses of Work Tokens

As stated previously, ESelfKey DAO facilitates benefits for active members, such as being able to mint tokens. We’ve elaborated on the activities active members can perform. Now, let us focus more thoroughly on how participants can make use of the work tokens they mint.

Work tokens can be exchanged for NFT packs

SelfKey’s NFTs are called Normies, and they can be customizable to fit the user’s personal preferences.

Here are some advantages Normies bring to members:

• they allow users to express their unique creativity and personality by creating one-of-a-kind digital assets. 
• they can increase the originality of the asset, as it becomes more exclusive and personalized. 
• they enable members to have greater control over their digital assets.
• they allow members to modify or add additional content to their NFT.

The NFT packs that members can obtain by exchanging work tokens can be used in several ways.

• To customize Normies around a specific theme or concept, such as a particular genre or event, such as: fandoms, movies, games, music, etc.
• To customize Normies by choosing the background, outfits, hair styles, skin color and texture, or additional details.
• To create different levels of rarity among the NFTs contained within them. For example, a pack could contain one or more ultra-rare, limited-edition wearables.
• To build a collection of related or complementary NFTs. This can motivate members to collect multiple packs in order to complete the entire set.

Additionally, ESelfKey’s NFT packs can include unlockable content, such as additional media or exclusive access to events.

Work tokens can be used to participate in DAO Governance

DAO governance is ideal for members because: 

• Decisions are made through a decentralized voting system that takes every participant’s opinion into consideration. This method aims to create an inclusive environment, in which every member may have a chance to express their opinions. 
• It represents a more fair and open method of organization which strives to benefit every active member, as every participant may equally contribute to the developement of the DAO.

Conclusions

Centralized systems are based on pyramid structures, where the majority have to follow the rules and authority of the few. Typically, in this kind of structure, individuals have no way of voicing their needs, let alone have them met.

DAOs, on the other hand, can be shaped by the participants’ direct involvement. This is why it is important to keep DAOs active. It is in the benefit of every active member, as they may shape the future of the DAO by their active contribution to the organization. And this may offer them the liberty to express their ideas and thoughts which, unlike within centralized systems, may be considered. 

ESelfKey DAO is working on developing the most efficient engagement system to make sure that active members are constantly involved with the development of the DAO. It’s likely to become the ideal space in which individuals can safely engage and have their needs heard and met. 

Keep in touch to learn more about SelfKey and how you can participate in building a better digital future!

Stay up to date with ESelfKey on Discord, Telegram, and Subscribe to the official ESelfKey Newsletter to receive new information!

Note:

We believe the information is correct as of the date stated, but we cannot guarantee its accuracy or completeness. We reserve the right not to update or modify it in the future. Please verify all information independently.

This communication is for informational purposes only. It is not legal or investment advice or service. We do not intend to offer, solicit, or recommend investment advisory services or buy, sell, or hold digital assets. We do not solicit or offer to buy or sell any financial instrument.

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

The rise of technology has made a great impact all around the world. It changed the way we communicate, work, and study. With the help of artificial intelligence (AI), most of our daily tasks are made considerably easier, and access to information has never been more effortless. However, in order to benefit from all the wonders of AI, we have to become part of its world.

Most of our private information had to evolve from physical papers to digital identities, which are stored in centralized systems. But while traditional, centralized systems are convenient, they may put our private data in danger due to their weak security measures.

Thankfully, solutions are being developed to change the way we authenticate ourselves online and the way we perform individuality-based activities on Web3. Technology can help protect our private information, just as much as it can be used to compromise it. The key is to remember that we can use AI for our benefit.

In this article, we will thoroughly elaborate on DAOs, ESelfKey DAO (including specific terms like KEY, SELF, and NFTs), and how user engagement in the DAO will be beneficial for individuals in the long run.

Highlights

• Humans and Digital Identity
• DAOs vs centralized systems
• DAOs and individuals
• ESelfKey DAO
• How to participate in the ESelfKey DAO
• Conclusions

Humans and Digital Identity

How we operate in the online world

Nowadays, we operate in the online world in many ways. We use various tools and platforms to connect, communicate, and collaborate with one another across the globe. For instance social media, messaging apps, online forums, and video conferencing. The web has opened up endless opportunities for people to share information, ideas, and experiences. 

However, as with any aspect of human behavior, there are also challenges and risks associated with operating in the online world. One of the biggest concerns is the safety of our personal data. 

The risks we take when performing individuality-based activities online

When we engage in individuality-based activities online that involve sharing personal information, we expose ourselves to a variety of potential risks. 

For example, personal information shared online can be accessed either by AI or human identity thieves, putting our privacy and security at risk. Even seemingly small details such as our names, birthdates, or email addresses can become targets which bad players may use to compromise our security. This can lead to AI attempting to create fake identities using our leaked personal data. 

What can we do to avoid those risks?

Being cautious about what we share online and keeping our privacy safe is very important. However, it is equally important to make sure that the individuals we engage with are not fake, AI-generated entities. 

Implementing Know Your Customer (KYC) protocols within a DAO may be the most secure means of verifying that individuals are genuine, real persons. Not only that, but within a DAO, there is no single entity to govern and control our personal data. What a DAO strives to achieve is equality and fairness among its users, as well as maintain the security of their individuality.

DAOs vs centralized systems

A brief description of DAO 

A DAO, or Decentralized Autonomous Organization, is a type of organization that usually operates using blockchain technology. This facilitates decentralized decision-making and transparent governance without the need for a centralized authority. 

DAOs are typically run by a group of individuals who hold tokens or cryptocurrency. Individuals can also vote on decisions related to the organization's operations, like funding proposals or changes to the organization's rules. 

How DAOs are revolutionizing individuality-based operations

DAOs  are changing the way individuals operate by innovating the concept of decision-making. 

In traditional organizations, individuals cannot materialize their ideas or concerns, due to the centralized systems based on hierarchies. DAOs, on the other hand, allow members to participate in decision-making processes and contribute to the organization's goals through decentralized governance mechanisms.

By using blockchain technology, DAOs enable trustless collaboration and eliminate the need for intermediaries. This method makes it easier for members to join and participate in collective decision-making. Additionally, it creates a more inclusive and democratic environment where each member can have an equal say and contribute to the organization's success.

Therefore, DAOs are empowering individuals to come together, build communities, and work towards common goals, without sacrificing their individuality or autonomy. 

DAOs and individuals

DAOs suffer from lack of user participation

Despite their potential benefits, DAOs can suffer from a lack of user participation. Because DAOs rely on decentralized decision-making, they require active participation from members to make decisions in a timely and effective manner.

How will user participation help DAOs “stay alive”

User participation is critical to the success and sustainability of DAOs. Without active participation from members, DAOs may struggle to make decisions, coordinate actions, and achieve their goals. Moreover, low participation can lead to apathy or disengagement. In turn, this can weaken the community and reduce the value of the DAO.

On the other hand, active user participation can help DAOs stay alive by:

• Promoting engagement.
• Building a strong community.
• Ensuring a timely and effective manner decision-making process.

Ultimately, user participation is essential for DAOs to remain viable and achieve their goals over the long term.

The benefits of participating in DAOs

Participating in DAOs offers numerous advantages for individuals looking to collaborate and contribute to a community-driven effort. Aside from providing opportunities for innovation and community building, it has several more benefits, such as: 

• Democratic decision-making
• Increased security
• Unique contributions
• Transparency

ESelfKey DAO

After explaining the general concept of DAOs, let's examine the SelfKey DAO objectives. 

Individuality is a vital aspect that the ESelfKey DAO is focused on. In the ESelfKey Protocol, individuals value every member’s uniqueness in order to help protect their digital identity from theft and forgery. The aim is to create a safe environment with the help of AI-Powered Proof of Individuality, where valued members can operate using trustless and secure methods.

ESelfKey DAO strive to provide secure digital identity solutions. With strong credentials in cryptography and blockchain technology, ESelfKey DAO’s goals include protecting users' privacy and giving them control over their data. Credentials are lacking in the crypto industry, and they’re a need in order to keep users’ information safe from being doxxed.

Basically, ESelfKey’s goal is to develop a method for individuals to engage with one another in a decentralized, trustless environment, while their private data and individuality remain safe and secure.

Important Terminology in ESelfKey DAO

What is KEY?

The KEY utility token is the centerpiece of the ESelfKey Protocol. 

It has several uses, such as:

• Being a means of payment for services within the ESelfKey Protocol.
• Individuals may use it to lock credentials on.
• Being utilized to govern and empower members of the ESelfKey DAO.
• Providing the necessary tools for users to take control of their digital identity.

As more individuals join the ESelfKey Protocol, the potential uses of KEY will only continue to expand, further cementing its importance as a vital component of the decentralized digital identity revolution.

What is SELF?

While KEY remains the vital utility token to lock on credentials, ESelfKey has proposed SELF tokens in order to help an individual keep track of what they have locked and for what period of time. 

Here are some of SELF’s attributes:

• Individuals who properly lock on a real identity may mint SELF tokens.
• Users themselves may issue SELF tokens.
• They do not have any intrinsic value.
• SELF tokens may also have utility as a governance mechanism. 
• SELF tokens can be unlocked through DAO voting.

SelfKey’s NFTs

At SelfKey, active members have the opportunity to earn NFTs by participating in the community and contributing to the project.

One of the unique features of ESelfKey's NFTs is that they are highly customizable. This means that individuals can tailor their NFTs to their specific needs and preferences. 

ESelfKey places a great emphasis on individuality, recognizing that each person has their own unique identity and set of circumstances. It is a platform that truly values individuality and helping people take control of their own identity and data. This is reflected in the customizability of its tokens and the overall design of the platform. 

How to participate in the ESelfKey DAO

Participating in the ESelfKey DAO and claiming tokens offers many benefits, such as:

• The ability to have a say in the project's direction.
• Voting rights on proposals.
• Access to exclusive community events.
• The opportunity to claim SELF tokens through active participation in the DAO.

The ESelfKey DAO provides a platform for community members to be more engaged and invested in the success of the ESelfKey Protocol.

Here is how to do it:

1. First, a user must perform a KYC check in order to properly authenticate themselves as a real person and the person whom they claim to be. Afterwards, they will join the DAO.
2. The user will then be able to lock KEY tokens on their KYC credentials. Afterwards, they will be able to start accumulating SELF tokens.
3. SELF tokens can be used to purchase NFT packs with particular customizations.
4. Alternatively, the user can mint their SELF tokens and use them for whatever purpose they find useful and fit.
5. Finally, users can contribute to the ESelfKey DAO by performing tasks issued by the ecosystem.

All in all, active participation and engagement in the ESelfKey DAO can bring significant benefits to the ESelfKey Protocol and its members. Members can actively participate in the decision-making process to shape the direction of the project, ensuring alignment with their interests and needs.

Additionally, engagement can help build a stronger sense of community among ESelfKey users, fostering a supportive environment for learning and growth. 

Ultimately, a thriving ESelfKey DAO requires active participation from its members, and those who are willing to engage will reap the benefits of a more robust and inclusive ecosystem.

Conclusions: 

Unfortunately, most people still rely on centralized systems. However, with the development of decentralized solutions, individuals may be able to take charge of managing and storing their personal data.

The ESelfKey DAO aims to assist individuals in gaining full control of their private data, enabling them to safely engage in Web3 transactions based on their individuality. Despite being a small ecosystem at present, it is secure and has the potential to reach new heights with the help of user participation and engagement. 

As the ESelfKey DAO develops, users will derive more benefits from it. Ultimately, it is user contribution that will enable ESelfKey to achieve its long-term goals.

Keep in touch to learn more about SelfKey and how you can participate in building a better digital future!

Stay up to date with ESelfKey on Discord, Telegram, and Subscribe to the official ESelfKey Newsletter to receive new information!

Note:

To the best of our knowledge, the information contained herein is accurate as of the date stated; however, the accuracy and completeness of the information are not guaranteed, and we disclaim any duty to update the information should circumstances change. You should not rely upon the information without conducting your own validation.

This communication is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any digital asset, nor does it constitute an offer to provide investment advisory or other services. No reference to any specific digital asset constitutes a recommendation to buy, sell or hold such digital asset. Nothing here shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service.

Note 2:

SELF and KEY tokens, SBTs, and NFTs associated with the ESelfKey ecosystem have no monetary value or utility outside of the ESelfKey ecosystem, are not ascribed any price or conversion ratio by ESelfKey and its affiliates, and do not represent ownership interests or confer any rights to profits or revenues.

These tokens should not be purchased for speculative reasons or considered investments. By engaging with ESelfKey, you acknowledge and agree to the applicable terms and any associated risks. We recommend consulting with legal and financial professionals before participating in the ESelfKey ecosystem and related transactions.

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

We use the "KYC" term here for general information purposes, without reference to particular legislation. Please check the laws relevant to you and contact us for the details.

Throughout the years, technology has transformed the way we operate as humans in society. It brought great changes to the way we work, study, communicate, and interact with one another. Furthermore, it has made these things easier, faster, and more accessible than ever before. 

We’re headed towards a digitized future, where we learn more about state-of-the-art artificial intelligence. However, the more we learn about artificial intelligence, the more it learns about us.

In this article, we will firstly discuss artificial intelligence, what it is and how we can use it to navigate the digital world. Secondly, we’ll explore the benefits and drawbacks of artificial intelligence. Lastly and most importantly, we’ll elaborate on ways to use AI-powered proof of individuality methods to keep our community’s individuality, privacy, and digital identities safe.

Highlights

• Artificial Intelligence and Humanity
• AI-Powered Proof of Individuality
• How can AI-Powered Proof of Individuality benefit us?
• How does AI-Powered Proof of Individuality work?
• AI-Powered Proof of Individuality and Selfkey

Artificial Intelligence and Humanity

Humans versus technology

The advancement in technology for the past several decades has stirred a growing debate of humans versus artificial intelligence (AI). For instance, if AI begins to take over tasks which were traditionally associated with people, what are people left with? Their sense of humanity and individual identity. 

Digitalization has impacted every aspect of our lives, making it easier for us to perform our daily tasks. Because of this, we have more or less become dependent on technology in order to operate in the online world. 

Overall, the topic of AI is quite controversial. Throughout history, humans have been cautious about accepting new technologies since the dawn of the industrial age. While technology has undoubtedly brought significant improvements to our lives, an important question remains:

Will AI ultimately be beneficial or detrimental to our well-being in the long run?

We will examine the potential advantages and disadvantages of AI in the following sections.

The benefits of Artificial Intelligence

Despite the potential risks and challenges posed by AI, there is no denying that it brings many benefits and advantages for humanity. 

Technology has filled our lives with entertainment, efficiency, and enhanced accessibility by eliminating frustrating and time-consuming tasks. Not only that, but it has made performing our daily tasks considerably easier and it has opened doors to an incredible library of information.

Let’s briefly explore some of AI’s key benefits:

• Automation. Advanced technology can program AI to do tedious, repetitive mundane jobs, so that humans can focus on more complex and creative tasks.
• Efficiency. AI has the capability to analyze a large amount of data and find patterns and trends that might be hard for humans to see. This can help individuals make better decisions.

• Accesibility. Thanks to modern technology, individuals can benefit from applications that make working, studying, and communicating remotely much easier. 
• Accuracy. Under careful supervision, AI can perform tasks with high accuracy, reducing the risk of errors and improving performance tremendously.

The dark side of Artificial Intelligence

With AI progressing at incredible speeds, technology has raised concerns about privacy and security. One of the biggest concerns nowadays is the threat of AI stealing human identities. There has been an increase in data breaches and cyberattacks, which leads to a growing need for stronger security measures to protect our personal data.

Like any other innovation, AI undoubtedly has its drawbacks, which are often overshadowed by its benefits. Basically, AI systems are designed to learn and make decisions based on data. Therefore, if the data used to train these systems is biased or incomplete, it can lead to flawed decision-making. 

We can understand the dark side of AI once we examine some of its potential risks and negative impacts:

• In the wrong hands, AI systems can be used for malicious purposes, such as cyberattacks.
• Because of this, privacy and security are major concerns when it comes to AI.
• Data breaches could result in divulging sensitive data, leading to significant consequences, like loss of privacy.
• Hackers can make use of the leaked data to steal or forge individuals’ digital identities.
• AI can generate fake identities, which can be used to influence the decision-making or output of a system.

As AI systems continue to evolve, it becomes more and more difficult to predict their actions. Consequently, we cannot hold them accountable for their faulty behavior. 

What can we do, then?

Artificial intelligence is currently not a sentient being, it cannot make its own decisions. 

It can either be used for good purposes or for malicious purposes, depending on the intentions of the individuals behind it. And, while humans are not equipped with the accuracy and efficiency of state-of-the-art technology, we can use AI to fight against malicious AI.

Thankfully, there is a method which can verify an individual’s identity in a secure, efficient and highly accurate manner. 

AI-Powered Proof of Individuality

What is Proof of Individuality?

Proof of individuality (POI) is a protocol that supports the statement that every person is a distinct and unique individual. As a matter of fact, individuality is a core aspect of human existence. It refers to the one-of-a-kind set of characteristics, thoughts, emotions and perspectives that make each person different from one another. 

While digital identities can be stolen and sold, individuality is not something which, at the moment, can be duplicated. At this time, it represents our liveliness as real, tangible, mindful beings.

Identification in modern times

Identification is an important aspect of our lives. Above all, it is unique to each and every one of us, and it represents our liveliness. Therefore, as technology makes new, magnificent progress every day, AI-Powered proof of individuality has become an essential part of our daily existence. From accessing bank accounts to opening doors, AI-Powered proof of individuality has revolutionized the way we identify ourselves.

Some of the most common AI-Powered proof of individuality methods are:

• Fingerprints
• Facial recognition
• Iris scans

These biometric identification methods are highly accurate and reliable, making them the go-to method for identification in many industries.

How can AI-Powered Proof of Individuality benefit us?

Overall, AI-Powered proof of individuality has many advantages. Particularly:

• Speed
• Accuracy
• Remote identification

Speed

• The traditional methods of identification, such as presenting a physical paper for verification can cause delays.
• Ai-Powered proof of individuality methods are much quicker. For example, using a fingerprint scanner can take only a few seconds.
• As a result, Ai-Powered proof of individuality methods are efficient in situations where time is of the essence.

Accuracy

• Biometric methods such as facial recognition and iris scans are highly accurate.
• In such a case, the chance of false positives or false negatives is minimal.
• This level of accuracy is ideal for high-security situations, such as airport security or government buildings.

Remote identification

• AI-Powered proof of individuality made it possible to identify individuals remotely.
• With the use of online identification tools, individuals can verify the authenticity of each other’s identities.
• There is no need to meet in person anymore. Therefore, physical distance is no longer an obstacle.

How does AI-Powered Proof of Individuality work?

A brief description

AI-Powered proof of individuality uses artificial intelligence to verify an individual’s identity based on their biometric features and behavior. 

As mentioned previously, biometric features are fingerprints, facial recognition, or iris scans. 

Some of the behavior patterns this technology analyzes are:

• Typing speed and style. How a person types on a keyboard, how long they pause between keystrokes, and how hard they press the keys.
• Mouse movements. How a person moves the cursor on a screen, the direction and speed of their movements.
• Voice patterns. The way a person talks, their pitch, tone and accent.
• Smartphone usage. The way a person holds or uses their smartphone, the angle of how they hold their device, or how they swipe and tap on the screen.

All in the benefit of the individual

The idea that our devices check our behavior patterns might be anxiety-inducing. Without a doubt, it can be scary thinking how technology knows us better than we know ourselves. However, in this case, AI is programmed to keep our individuality safe from malicious, bad players.

This way, organizations can improve security and prevent identity fraud. Furthermore, AI-Powered proof of individuality is more convenient to access digital services without the need for passwords or tangible identification cards. Passwords can be forgotten, stolen, or compromised.

Consequently, AI-Powered proof of individuality has the potential to positively transform how we verify our identities in the digital age.

AI-Powered Proof of Individuality and Selfkey

ESelfKey aims to offer individuals a secure means of verifying their identity through AI-Powered proof of individuality methods. 

Guidelines for users:

1. The user will first have to perform a KYC check. KYC stands for Know Your Customer, and it is a mandatory process of identifying and verifying an individual’s identity. It is done to ensure that the user is genuinely who they claim to be.
2. The user will then obtain the ESelfKey iD SBT. SBT stands for Soulbound Tokens. They are non-transferrable, verifiable, digital tokens that can show an individual’s accreditations, work experience, work history, and past records.
3. After this, the user onboards to ESelfKey DAO. DAO stands for Decentralized Autonomous Organization. It is governed by a community of individuals on a decentralized blockchain network. The rules of a DAO are transparent to all members in order to create equality between users.

The part AI plays

After the user completes all of the steps above, ESelfKey will require an AI-Powered selfie check. This modern method of verifying an individual’s identity uses facial recognition technology.

For instance, here’s what happens during an AI-Powered selfie check:

• The user will take a selfie and submit it to an AI-Powered system.
• The AI-Powered system will check the photo against a vast collection of pre-verified images.
• The system will use algorithms to identify unique facial features, like: distance between the eyes, the shape of the jawline, the position of the nose.
• If the user passes the check, they will receive a POI (proof of identity) credential, which they can stake KEY on.
• If the user does not pass the check, they will not be allowed to continue.
• In the case of a false negative, the user will have the possibility to contact support.

These AI-Powered selfie checks will be made periodically, each time a user performs important actions within the ESelfKey DAO.

How does this benefit us?

This method is widely used by online platforms and organizations that require a high level of trust and security in their user authentication process. Firstly, it is a quick, convenient, and reliable method. Secondly, and most importantly, AI-powered checks will prevent identity fraud in the online world.

For instance, AI-Powered proof of individuality will efficiently and accurately check that:

• The user’s selfie is not forged by another individual.
• The user’s selfie is not AI-generated or fake.
• The user is a real person.
• The user’s selfie matches the original selfie they submitted during the KYC check.

Anti-Sybil technology

Did you know that there is a term for “identity fraud” in the digital world? In the context of online security and identity verification, “Sybil” refers to the act of creating multiple fake identities or accounts. 

A single, malicious individual or a group can do that, with the intention of manipulating or deceiving the system. Alarmingly, it can carry out spam attacks, manipulate voting in online polls for elections, even inflate the popularity of a website or social media.

Preventing Sybil attacks is a crucial challenge in the design of many online systems. Thankfully, SelfKey’s AI-Powered proof of individuality methods can fight against that.

Conclusions

Even though technology has posed challenges throughout the decades, it has an immense potential to make society better. AI-Powered Proof of Individuality has become a part of our daily lives, helping us identify ourselves in a quick and efficient manner. The advantages modern identification methods bring are undeniable. 

In spite of that, having concerns about privacy and security is normal, especially when it comes to our individuality. However, ESelfKey is aiming to developing methods to combat those who use cutting-edge technology for malicious purposes.

Finally, as technology continues to evolve, we can expect to see even more complex methods of identification in the future. But, it is vital to remember that we are supposed to use technology to enhance our lives, our work, rather than replace them. The solution is to find a balance between technology and humanity.

If you want to learn more about what the future brings, your online safety, and methods to combat bad players on the web, subscribe to the official ESelfKey blog! 

Stay up to date with ESelfKey on Discord, Telegram, and Subscribe to the official ESelfKey Newsletter to receive new information!

Note:

To the best of our knowledge, the information contained herein is accurate as of the date stated; however, the accuracy and completeness of the information are not guaranteed, and we disclaim any duty to update the information should circumstances change. You should not rely upon the information without conducting your own validation.

This communication is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any digital asset, nor does it constitute an offer to provide investment advisory or other services. No reference to any specific digital asset constitutes a recommendation to buy, sell or hold such digital asset. Nothing here shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service.

SELF and KEY tokens, SBTs, and NFTs associated with the ESelfKey ecosystem have no monetary value or utility outside of the ESelfKey ecosystem, are not ascribed any price or conversion ratio by ESelfKey and its affiliates, and do not represent ownership interests or confer any rights to profits or revenues. These tokens should not be purchased for speculative reasons or considered investments. By engaging with ESelfKey, you acknowledge and agree to the applicable terms and any associated risks. We recommend consulting with legal and financial professionals before participating in the ESelfKey ecosystem and related transactions.

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

We use the "KYC" term here for general information purposes, without reference to particular legislation. Please check the laws relevant to you and contact us for the details.

Edmund Lowell: This is a really important question. The two sided marketplace is a tough egg to crack - however, ESelfKey has a good head start with a functional, working marketplace in several verticals, with a number of service providers! When compared to some competitors who also claim to have a marketplace, ESelfKey has more products and services available in a functional, working marketplace. For instance, users can set up a bank account (in 14 different countries), open a company in 11 different countries, get an exchange account, and soon users can get a crypto loan, where we compare lots of different companies. This is a good start, now to get users! More on this covered in other questions.

What are your strategies in building a big and strong community? Do you agree that the power of the community will lead your project to grow globally?

EL: An active and engaged community is fundamental to the success of ESelfKey. The question here is what are the strategies to build a big and strong community? There is no one strategy, but we employ many, probably this post would be very long to explain them all, so let's stick to three core ideas - 1) traffic 2) education 3) conversion. 

1) Traffic

First and foremost, we need to get people to the ESelfKey website and wallet. This is done through a number of different traffic strategies; a favorite is SEO. Search engine optimization is a longer term strategy based on writing content, and ranking for specific keywords in search engines like Google. 

Although it takes time, the ROI (return on investment) from SEO is historically quite good, and we are already starting to see dividends. For instance, search traffic has grown about 4x in just this year alone. For SEO, there are writers who have a sole focus on long form content strategy and keyword targeting. 

2) Education

Nextly, once users are on the ESelfKey website, they need to be educated on what the project is, why the product might solve their problems, and how it might be a good solution for the job they need to get done. We are constantly working to improve the website, and just translated it into Chinese. We have social links and encourage users to subscribe to mailing list, join our telegram, and other community channels to further their education. 

3) Conversion

SelfKey’s current website comes after an iteration of 4 or 5 previous websites where we are constantly working to get the messaging right, and for users to perform the next, and arguably most important task: convert into long term users! We need to convert website traffic and casually interested users into ESelfKey Wallet users. We believe that crypto wallets will become even more important in the future, and what makes the ESelfKey Wallet unique, is that it is also an identity wallet. There is no one thing which achieves conversion, but as we mentioned already - it's important to have traffic, and educate that traffic - a certain amount of which will always convert. Next we use a blend of quantitative and qualitative strategies to help build conversions. 

For instance, there are a few community admins who are spread across time zones of the Americas, Europe and Asia to be there to clean out spam. Another good strategy is testing and optimizing the website and applications to improve conversions with iterations with split testing. 

We absolutely agree that the power of the community can lead ESelfKey to grow - the success of the project depends on the community! That's why we routinely ask for feedback, and feature requests - these requests were automatically prioritized and made the top features in the next development release. Your efforts as a community are the most important thing to make ESelfKey succeed - keep up the good work everyone!

The Exchanges Marketplace is great, are there plans to get this in front of new crypto users as an on boarding platform to help navigate the crypto space and exchanges with one click sign up?

EL: Thanks for your comments on the Exchanges Marketplace - we do plan to do much more marketing for the Exchanges Marketplace in particular - first driving traffic, then educating users on various exchanges and the different advantages they bring, and finally, providing an easy way to sign up for the exchanges which is quicker, faster and easier than traditional methods. Also the idea of API integration for in-app trading has come up a lot - but more work needs to be done on this, in particular better ways of managing the funds, so they are non-custodial (some projects are already doing this for instance Kucoin).

In comparison to the other competitors in the blockchain identity space, how is the ESelfKey team feeling about its development and targets?

EL: Although we do pay attention to competitors products, we feel that it's actually better when competitors succeed! Here's why: decentralized identity is a paradigm shift - there needs to be a change in basic consumer behavior and demands on companies. Companies need multiple choices of vendors and will likely avoid vendor locking.

Therefore, we most likely want and need multiple companies to succeed. This will help from an adoption standpoint, and technically should make it easier to acquire users, as properly designed DID's are interoperable. This means a bigger pie for all to share. 

In conclusion, we are different armies fighting the same war. If "A rising tide lifts all boats" then Self Sovereign identity is a tidal wave that will impact lots of different industries, should it be demanded by consumers!

How do you maintain motivation amongst the team?

EL: The ESelfKey team is a really talented group of individuals who all believe in the mission, so many of the team members come to work ready to do what they love, and to work on a project and in a direction they believe in. However, motivating a team to perform is something which good leaders do consistently in any company, team, organization or group setting.  

One small thing we have done for the past few years is to have a weekly teamwide meeting each week, called a level 10 meeting. During this meeting we share various successful updates. Hearing teammates talk about their big and small wins is really motivating. Next we go into any important company wide news and goals for the next cycle. Previously we had 1 quarter goals, but crypto moves so fast! Therefore we shortened our sprint cycle to 6 week "bets". 

Next up in the meeting, we go through culture points/fun questions. This is where we ask everyone to answer (in advance) a question related to how their culture might be different, or just a fun, open ended question. Recent examples: "How late is considered to be late, in your country?", "How do you say hello in your country?", and "If you could have any superpower, what would it be?" We don't want to spend too much time on this, we'd rather be writing software! But we do spend some time each meeting bonding and learning about the personality of our team members. 

Finally, we wrap up with quotes from our #Quotes channel - and call on various teammates to explain why they selected that quote from a famous person, and what they interpret it to mean. Every quarter we try to have a small team meetup in a region (like Europe) and every year we have a global meetup - we try to post pictures of the meetups here in Telegram. 

Also one really recent thing we did with COVID-19 is have a workout challenge. We post pictures/videos of us working out from home, since it's really tough to go to the gym! I read recently that one company got a huge return on investment for investing in employees physical fitness, they got $8 back for every 1$ invested!

Will we be able to buy KEY with fiat?

EL: Based on user feedback, this is being prioritized. This service needs to be provided by a fiat<->crypto onramp. And we are trying to find the right partners. Right now what we've found is a service where users should be able to purchase ETH directly from a bank transfer, and then swap into KEY. Exact implementation details TBD but we've identified several regulated partners who could provide this service, and who have API's. We may need to integrate with several providers or there won't be global coverage.

The crypto market is vast and widely diverse: what makes you unique or what makes you different from others?

EL: From a product perspective, we are always looking to try and meet unmet needs in the Marketplace. If someone else is doing it, usually we won't pursue this idea. ESelfKey places a huge emphasis on innovation and doing things differently, and we hope that shines through. This could be reflected in our industry first Marketplace, the separate R&D team who focuses on innovation, or the uniqueness of our Marketplace verticals.

Very few, if any, crypto/self sovereign identity platforms offer bank account opening, and from what I understand, no one else has incorporation services. These two are massive markets and very unique at this point. A clear way to differentiate is by expanding horizontally to different Marketplace verticals. However, there may be ways to differentiate further in a 'vertical' approach (e.g. a new chain) or a hardware wallet, or other things we are being discussed and validated through user testing, interviews and surveys.

The Wallet needs more/most chains to be a success. Thoughts? Thanks?

EL: We have considered adding more chains to the wallet on many occasions. In fact, we have a pretty exciting update to share about a partnership with a very important upcoming chain! (announcement of an announcement ? ) Like most things, it's the community who will decide this, and there is a poll on this question coming soon - stay tuned!

Just read an article about Zoom having identity verification problems on its platform as well as security issues for user data. They are planning on integrating cryptocurrency payments into it as well. Is this not a perfect use case of Login with ESelfKey and users needing to have self sovereign ID? Partnering with Zoom could start to fix their security issues. Could it be worth a try to partner with them and get them on board for LWS? What are the team's thoughts on this and companies in similar positions?

EL: Great idea! We are always open to suggestions for clever partnerships. Need to keep in mind a lot of this is out of our control, we can't tell another company what to do! That being said, we are aware of the issues with Zoom and think this would be a great partnership opportunity. As a reminder, if you have suggestions or ideas like this, please submit them at ideas.selfkey.org - the success of ESelfKey relies on the efforts of the community!

Update: we did contact Zoom through several contacts on LinkedIn - let's see what can be done here! interestingly, also since this question was asked, Zoom acquired Keybase - we are on the right track!

Can ESelfKey add a Real Estate Marketplace?

EL: This is a good question! Real estate is a very domestically based transaction - for instance, in many countries in Asia, you need to be a local to own land. Furthermore, people usually want to see real estate before they buy it. But - there is a segment that we like which is real estate for passports - this is interesting because it is inherently international - also, you get a passport for yourself and your family if you buy the property - so there is no risk of the country saying "citizens only" - because you are a citizen. We want more feedback on this - would ESelfKey users want to buy real estate and get a citizenship?

Are you preparing to establish a lending platform?

EL: Yes, we have an upcoming crypto loan marketplace - lots of interesting opportunities to evolve this marketplace as well here!

Are there any plans for staking? In my opinion this could bring a lot of users to use the mobile wallet.

EL: We do have some plans around staking - but want to release a full plan before we announce anything. Ideally should be able to do it Q3 - but cannot promise this as there are a few moving parts! Patience is a virtue ? HODL!

Is there going to be a way to buy KEY through the app using a credit card or something similar?

EL: Hopefully yes! It's a great idea - buying KEY through the app with a credit card. Right now the major sticking point is API - we haven't found any company who has an API to receive KYC, and purchase with a credit card. Does the community know anyone?

And that concludes our AMA. Thank you Edmund for taking the time to talk to the community and thank you everyone for participating!

That being said, some countries are particularly hospitable to business owners. This article provides a list of the best countries in which to launch your incorporation. In order to evaluate the suitability of a jurisdiction, we will be paying close attention to each country’s current situation, applicable taxes, important legal requirements, and the incorporation process.

1. Hong Kong - The Winner

Starting off our list we have the flourishing, autonomous territory in Southeastern China: Hong Kong.

Not only is it the gateway to the largest economy in the world, but it also boasts a very stable financial and political situation. In fact, Hong Kong ranks among the top 40 countries in terms of GDP, and is the freest economy in the world according to the Index of Economic Freedom. No wonder then, that Hong Kong is very business-friendly and has a great international reputation.

Taxation is simple, corporation tax is low, at 16.5%, there is no capital gains tax and no customs duties. The personal income tax rate is set at 17% and there is no VAT.

Additionally, the incorporation process is beautifully simple, as it can be done remotely in as little as two days. Hong Kong is also home to some of the strongest banks in the world, and enables entrepreneurs to set up a bank account with ease.

Overall, Hong Kong is a superb jurisdiction to incorporate in, and a deserved first place on our list.

Price of Incorporation: $1,850 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

2. Estonia - Progressive and Welcoming

Next on our list we have the Eastern European country Estonia. Not only does Estonia have perhaps the most technologically advanced governance, but it also boasts some of the most progressive legislation on voting, healthcare, banking and taxation anywhere in the world.

You may have seen Estonia in the news, because they digitized almost every branch of government, and launched wildly popular services like e-residency. As a result, Estonia has become a hub for technology and dozens of startups have thrived there. Blockchain companies have done particularly well, as Estonia has the easiest and most affordable licensing process for crypto exchanges and wallet service providers.

This country has a straightforward and reasonable tax system. There is no taxation on retained profits and 20% taxation on distributed profits. Corporate compliance is made very simple as all mandatory filings can be done electronically.

As for the incorporation process: Estonia leads the world, allowing you to remotely register a company in under an hour.

Finally, Estonia is part of the European Union and gives you access to the shared market comprising 500 million people. The European market is a steady and profitable one, and starting your business in Estonia is a gateway to the European Union.

Price of Incorporation: $2,950 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

3. Switzerland - Established and Trusted

With a long tradition of financial, political, and economic stability, Switzerland is also a great country to start your business in. As Switzerland is small and landlocked, its economic policy is very hospitable towards foreign free trade, with low import duties and just a few import quotas.

As a result, this country is known worldwide as a center for trade and finance, which means you’ll have access to top shelf corporate banking facilities and services.

From a taxation perspective, Switzerland is also very attractive. It has one of the lowest value-added tax rates (8%) and the country offers a number of tax incentives, grants and rebates for companies involved in many different industries. Corporation tax is only 7.8%, which is the same as capital gains tax - both of which are very low compared to other countries.

For this reason, many large international firms and SMEs choose to establish their headquarters here. Incorporation is relatively painless and can take as little as five days. Importantly, you’ll have access to free trade and movement in the EU.

Price of Incorporation: $9,900 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

4. British Virgin Islands (BVI) - Great tax regime

The British Virgin Islands are one of the world’s largest offshore financial centers and one of the best countries in which to incorporate.

Importantly, BVI has a strong offshore regulatory environment, which combines oversight with economic freedom. This approach allows you to do business with ease, while still enjoying reputable banks and a comprehensive compliance framework.

Of course, English speakers are drawn to BVI because English is the primary language used on the islands. Fortunately, you do not need to appoint a local director or local secretary. Instead the application process as well as the control over the legal entity can be done remotely. One thing to keep in mind however, is that all international business companies are required to maintain a Register of Directors.  

The BVI also scores points with very friendly taxation, only levying a stamp duty on the transfer of land. There is no capital gains tax, corporation tax, personal income tax, or offshore tax.

With all this in mind the British Virgin Islands are a fantastic country of incorporation and definitely checking out.

Price of Incorporation: $2,350 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

5. Cyprus - Very hospitable to foreign businesses

Cyprus is number five on our list and an excellent choice for your business. Located in the Mediterranean, the former British Colony is a member of the European Union and boasts annual GDP growth of just under 4%. It has become a gateway to the European market by many non-EU companies.

Besides the strong economy and beautiful location, Cyprus is attractive because of its fair and transparent tax regime. The offshore and corporation tax rates of 12.5% are very fair and there is no capital Gains tax. Dividends earned by companies in Cyprus are exempt from all taxes - with the exception of foreign-source dividends which are still tax deductible for the paying company).

The reason Cyprus is a little lower on our list is that the Incorporation process takes a little longer. You can expect to wait 2 weeks to complete the process, which is significantly longer than most other countries on this list.

Nevertheless, Cyprus is an excellent location to incorporate in, especially if you want access to the European Market, while paying very reasonable taxes.

Price of Incorporation: $3,900 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

6. Panama - Excellent access to the Americas

The Republic of Panama is located in Central America and is home to the renowned Panama Canal. This has allowed the country to become an international trade hub, providing both a stable economy and political situation.

Panama also has great infrastructure, and is one of the largest free trade and international distribution centers in the world.

For new business owners Panama offers a fair and transparent tax regime. Corporations that conduct their business outside of Panama are exempt from all local taxes and there are no foreign exchange controls.

Companies that do business domestically, can expect to pay a 25% corporation tax but no capital gains tax.

If privacy and confidentiality are a concern, you’ll be happy to hear that shareholders and beneficial owners’ details are not publicly disclosed. Confidentiality of business and banking transactions are protected by law.

Overall, this makes Panama a great country of incorporation.

Price of Incorporation: $3,250 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

7. Malta - Join the European Single Market

Malta, the southern European Island, is another popular choice for international and holding companies. Comprising just 400,000 citizens, Malta is particularly amenable to entrepreneurs from abroad that wish to set up a business there.

With access to the European Single Market, attractive taxation and progressive legislation, Malta is a deserved member of our list. You might be taken aback by the ostensible 35% corporation tax, but rest assured that there is a system of tax credits and refunds which bring the effective tax rate down to 10%.

Malta has also signed a large list of Double Taxation Agreements, and startups in Malta have access to a skilled English-speaking workforce.

The Incorporation process is straightforward, with an expected processing time of 5-10 business days.

Price of Incorporation: $4,300 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

8. Cayman Islands - Taxes of the Caribbean

The Cayman Islands is number eight on our list and represent another excellent country of incorporation.

Located in the Caribbean, the autonomous British Territory has built a stellar reputation in the business world, being the world’s leading offshore financial services hub. In fact, the small country offers a stable economic and political environment in which entrepreneurs can thrive.

One of the key reasons for the success of the Cayman Islands, is the attractive tax regime. Here business owners do not have to pay corporation tax, capital Gains tax, or offshore tax. Additionally, an Exempted company can even apply to be free from any law enacted in the Cayman Islands that levies tax. Not bad.

The reason the Caribbean Island ranks towards the bottom of our list, is because of the relatively large import duty tariffs which range between 22% and 27%. Depending on your industry, this could prove to be a real pain.

Nevertheless the Cayman Islands is one of the best places to start your business.

Price of Incorporation: $3,400 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

9. New Zealand - The World’s Easiest Country to do Business

Last but certainly not least, we the easiest country to do business in the world (according to the World Bank). The government welcomes business and has taken many steps to make immigration easier for investors and business people. Along with a strong economy that shows steady growth and a relatively laissez-faire regulatory environment, it’s no wonder it’s the top of the World Bank’s list.

As far as taxation goes, the current corporation tax rate is 28%, but there is no Capital Gains tax. There are also a number of tax incentives, plus New Zealand has tax treaties with a large number of countries. Incorporation can take just a few hours online. With a modern, prosperous, and developed market economy, New Zealand might be the right place to start your business.

10. Singapore - Get Access the Asian Market

As the trading hub of Southeast Asia, Singapore is home to the busiest port in the world. With one of the fastest growing regional economies, it has major potential for entrepreneurs who are looking to start a business in a hospital environment. Singapore is a country that encourages entrepreneurship, and the government supports a free market.

One of the best parts about starting a business in Singapore is the transparent tax scheme. Although Singapore has a corporation tax of 17%, there is no Capital Gains tax and startups are eligible for several different tax breaks and incentives. The Personal Income tax rate is reasonable at 22% and VAT is only 7%.

Launching an incorporation in Singapore can be done through the ESelfKey Marketplace in less than an hour and you can expect to hear back in 1-3 business days. Singapore’s court system is known for being fast, providing a great bureaucratic environment in which to work.

On the down side, all Singaporean-incorporated companies are required to have at least 1 director who is a citizen or permanent resident. This is the reason Singapore is last on our list, despite offering a great country of incorporation otherwise.

Price of Incorporation: $6,200 (29th of April 2019)
Download the ESelfKey Wallet and head to the Incorporations Marketplace to get started.

Country of Incorporation: Our Top 10

I hope this list has been helpful. It represents a fraction of the information available to you in the Incorporations Marketplace. If you’re looking to launch a legal entity or are still researching the benefits of starting a business overseas, the ESelfKey blog has what you need.