THEKEY is a decentralized ecosystem of Identity verification (IDV) tool utilizing big data and blockchain. THEKEY’s business model revolves around the use of their services in IDV. In order to use this service, individuals, enterprises, or institutions must first purchase the underlying utility token as a payment source, THEKEY has an opportunity for huge advancement in China, leading THEKEY price to follow and reward investors.
TKY Opportunity in China
THEKEY is backed by the Chinese government, which has given the team access to their data centres with over 210 million Chinese citizens currently on their database and utilising THEKEY’s IDV service for services such as KYC, payments, or reimbursements for Social Security pension or medical.
One of the main issues in China’s healthcare sector is the lack of a national electronic record infrastructure. This is one of the main issues ironed out in the China Health Care reform policies.
In order to achieve a more affordable health insurance and ease of access for Social security benefits in the Government reforms, THEKEY plays an important role in the implementation and creation of these databases for the Chinese government. It is immutable and transparent and will improve the wellbeing of its citizens
THEKEY is going to save companies, enterprises, and the Chinese government a lot of money through its new technology by reducing transactional service costs
TKY Price Action
Up until now the price of TKY has been in a downward spiral. Many thought March was all-time lows and the perfect buying opportunity then came June and there was more downward pressure.
The price remained low and stayed low due to a number of factors. One, for instance, was that locked tranches of TKY tokens were released and large volumes were dumped on to market around those times, whales taking profits and bad market conditions.
Secondly, “fud” and regulation also contributed where there was a misconception that China is banning all cryptocurrencies,, but rather it was just ICOs, as the government wanted to protect their citizens from scams. Meanwhile, the TKY team was working around the clock to deliver a real product that will create benefits to society and wellness for both Governments, businesses, and individuals.
My price prediction for THEKEY is by end of the year we may even see $0.02 to $0.05 USD. With the increase of usage of its services and fixed circulating supply, the supply-and-demand economics will come into play.
Basics And TKY History
TKYs ICO was launched in February 2018 at a price of $0.032 USD per token its price currently is sitting at $0.00483 USD, Testnet was scheduled to be launched by end of June 2018 but was completed ahead of schedule end of April.
Currently, we are in early October and the price of each TKY token is at its all-time lows,
The Mainnet is scheduled to be launched in December, but with TKY’s good proven track record on hitting milestones and accomplishments, I predict that Mainnet could launch ahead of schedule.
Secondly with a ready product available to over 200 million of its citizens there maybe even be an exchange listing on either Huobi or Binance. TKY is part of the NEO NEP token network, which could see more listings in Q4 of this year.
With TKY being more accessible on multiple exchanges, it will give people more opportunities to purchase the token, so the predictions above could be a conservative one. Over the next 3 to 6 months, $0.10 USD to $0.50 USD is a very real possibility for THEKEY price.
Author: Vincent runs the Youtube Channel ‘2TheMoon’ which you can view and subscribe to here.