SINGAPORE, Oct. 26, 2017 /PRNewswire

THEKEY Project has been officially founded recently by global top-tier big data experts organized by a Singapore Foundation. It's developing a second-generation identity verification (IDV) solution for the internet via BDMI technology. BDMI stands for "Blockchain based Dynamic Multi-Dimension Identification" technology. It can create a vivid and holographic digital identity online, which will be "the key" to migrate people from the real world to the online world. THEKEY Project aims to solve the internet IDV issues and create a parallel online world.

THEKEY Project team consists of world leading experts in the domain of R&D, data modeling and analysis, commercialization of big data as well as marketing and promotion, namely Xueli Li (Founder and CEO), Guochun Xu(CTO), Kun Chen (CMO), Lin Zuo (COO) and Yuli Huang (Chief Data Officer).

Once the BDMI technology is implemented by THEKEY Project, people's daily life will be changed enormously. Here are some example uses below.

When you open the door, face recognition and fingerprint digitals on the door handle will scan the user to confirm the identity, and compare it with the latest behaviors maintained on Blockchain, by which it will justify the rationality of the time and place you are now granting access. Exit and entry through customs is complicated. However, with THEKEY Ecosystem, things get easier via face recognition and fingerprint verification, backstage information, blacklists from public security offices, visa records, flight information and hotel information, will ensure effective clearance by customs. The intelligent device on your body will detect the detailed data about your body when you feel feverish. Moreover, it can also tell where you are sick; MTS (Medical Term Standardization) will diagnose your disease and recommend the most suitable medicine or diagnosis and treatment scheme according to your health record. It can even recommend the nearest and best doctor to you. The Blockchain IoT technology will help you get the cheapest medicine as fast as possible, which can be traced back to the source.

The existence of THEKEY Ecosystem will make the internet and the real identity integrated together to facilitate your life, and it will serve as the fundamental layer of the future Artificial Intelligence (AI). Individual's privacy will be better protected based on the BDMI facilitated by blockchain technology with cryptographic algorithm. The identity data will be possessed and controlled by individual.

The founder and CEO of THEKEY Project, Xueli Li, has stated, "Our team has been dedicated to the technical exploration and the commercialization of the individual data which has been validated by government agencies or other public institutions for years. The difficulty in data acquisition, data processing and data utilization has impeded the use of individual data. In the light of the blockchain technology development, it has fundamentally solved the data security, data efficiency and data privacy issues. The BDMI technology can not only be used as an anti-fraud tool in social insurance industry, it also fuels the online IDV solution. And this will be a great transformation of internet technology."

"The BDMI technology is currently mostly developed. We have made great achievements in data acquisition and data standardization. And the business model of IDV has been successfully verified in two pilot cities. Personal identity data of 210 million people in 66 cities, authenticated by the relevant government authorities, are connected on a real-time basis. In the near future, every aspect of life will be in need of IDV based on BDMI technology. THEKEY Project will pass the systematic test in 2018", said Guochun Xu, CTO of THEKEY Project.

Source: THEKEY

Illustration Photo: Iris recognition (Public Domain from Pixabay.com)

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