THEKEY ecosystem will be a decentralized autonomous community consisting of three parts - participants (validators, service providers and individual users), smart contracts and TKY tokens. THEKEY Token (TKY) is the only way to resolve smart contracts signed between THEKEY Ecosystem participants. Once validators, service providers (insurance companies, banks, hospitals, pharmacies, etc.) and individual users have all signed transactions through smart contracts, relevant parties will use TKY to determine the contract based on the agreed price and payment sharing plan. TKY can not only be purchased through sales activities, but can also be obtained in the following ways: individual user service providers and verifiers can perform valuable actions in THEKEY ecosystem to obtain TKY tokens.

1. Project technology

BDMI (Blockchain Based Dynamic Multi-dimension Identification) is a blockchain-based dynamic multi-dimensional identification technology. As the name suggests, it is composed of two major technologies: dynamic multi-dimensional identification technology (DMI) + blockchain technology. DMI identification technology cross-verifies users' real-time identity data, behavior data, and scene data to ensure the "non-repudiation" nature of identity verification results. The blockchain technology guarantees the "non-tamperable" of the identity verification results. At present, THEKEY project team has made a breakthrough in dynamic identification technology, thus laying a solid foundation for the success of the project:

· Obtained 23 copyrights, and another 15 related invention patents have been accepted and entered the stage of substantive examination.
· Dynamic multi-dimensional identification technology, as the key technology in the mobile medical insurance payment solution, has been practically applied in two pilot cities. Through mobile medical insurance payment, users can obtain reimbursement for basic medical insurance. Currently the THEKEY project team is deploying mobile medical insurance payment in 41 cities, covering a population of 130 million.
At present, the THEKEY project team has connected the identification data of relevant governments in 66 cities with a population of 210 million in real time, laying a solid foundation for the development and upgrading of its identification products.
· It has signed business contracts with many world-renowned companies, and the THEKEY project team's assumptions about the business model have been fully verified.
· Has initiated and presided over six national laboratories of related disciplines from the government, banks, commercial insurance companies and universities.

In order to promote the application of BDMI technology, THEKEY project team will establish a decentralized ecosystem consisting of three elements of participants (individual users, service providers, identity verification parties), smart contracts and TKY points. There are two purposes for establishing and creating the THEKEY ecosystem: First, to maintain a good data governance environment to ensure the reasonable and sufficient use of personal data and data security. Second, enable the identity verification party to obtain timely and sufficient remuneration to support the rapid, healthy and sustainable development of identity services. In the THEKEY ecosystem, take a Beijing resident who purchases local medical insurance in Singapore. The local medical insurance company triggers an identification request and needs to obtain the user’s health file as an example. THEKEY user identification includes the following 8 steps:

· The Singapore insurance company initiates the identification request as a service provider.
· Users submit their fingerprints or other biological characteristics such as face, iris, etc. through the THEKEY APP on their mobile phones or through the insurance company's equipment, and sign relevant smart contracts with THEKEY and the insurance company.
· THEKEY, as an identity verification party, compares the insurance company's request with the industry's requirements to check the rationality of the insurance company's request.
· THEKEY checks the consistency between the biological identification information uploaded by the user and the user's government-certified biological identification information in the government database to confirm the user's identity. At the same time, THEKEY also cross-checks its biological identification data with the same user behavior data and scene data from other data sources to ensure the reliability of the conclusions, all of which are automatically completed through encrypted and secure interfaces.
· After the user's identity is confirmed, THEKEY will collect the user's health file in accordance with the requirements of the smart contract and publish it on the chain.
· After the identity authentication service is completed, the smart contract will distribute TKY points in accordance with the provisions of the contract.
· At the same time THEKEY will store all calculation results for future data audit.
· THEKEY will conduct regular data audits and evaluate user credit.

2. Project Features

1. More reliable conclusions: As real-time, comprehensive, accurate and reliable data are used in the identification process, especially the identification data certified by public authorities, the identification conclusions produced by BDMI will be more reliable.
2. Lower cost: Since all existing data are used for identification, the huge cost of repeated investment in data collection, processing, analysis, processing and certification is avoided.
3. More user-friendly: BDMI technology users do not need to install and register any products and upload any information, and do not need to carry any equipment or even mobile phones during the identity authentication process!
(The above information comes from THEKEY official website)

Related link:
https://www.thekey.vip/#/homePage