06 June 2018
THEKEY informed us via ‘Twitter’ that their TKY token is now listed for trading on HitBTC. In this article, we will also dive deeper into the AMA session with CEO, Catherine Li which was held on Reddit on June 5th.
A few days ago THEKEY hinted at the upcoming listing on a Korean exchange. Today they’ve lifted the veil of mystery by announcing that the TKY token is available for Trading on HitBTC. At this time, the available trading pair is TKY/BTC.
The listing is another win for THEKEY project which has been on a tear as of late. The TKY token is also tradable on the exchanges Kucoin, Switcheo, BitZ, Allcoin, Lbank, and Coinswitch. At the time of writing, TKY is trading at $0,0174 USD and holds a market cap of $80 million USD.
The Reddit Ask-Me-Anything session was an interesting read. It is packed with little details which make the foreseeable future exciting, to say the least. Let us unpack some of the questions and answers!
In the opening statement of the AMA session, Catherine expressed she was very pleased with the progress of THEKEY project and the on-time delivery of the MVP. She especially highlighted the importance of the award that was won. Over 10.000 projects applied for an award at the ‘Big Data Expo’. The ‘Expo’ was jointly hosted by the ‘National Development and Reform Commission’ (NDRC), the ‘Ministry of Industry and Information Technology’ (MIIT) and the ‘Provincial Government of Guizhou’. On top of that, president Xi Jinping wrote a congratulatory letter applauding the ‘Expo’ initiative. For a Blockchain project to win an award in a country where ICO’s and cryptocurrency exchanges are banned, is an honor indeed!
When Catherine was asked about the consequences of the Chinese ban on cryptocurrencies and the ‘illegality’ of holding TKY tokens by Chinese citizens, she had the following to say.
This is also a fundamental issue for all ico projects in China that by law institutions and individuals are banned to acquire TKY or any other cryptocurrency in the open market. Currently we are in discussion with Chinese government incl. the Central Bank regarding this issue. I am pretty sure we are able to work out a solution with the government in the not so distant future. And Chinese government is positively promoting the R&D of blockchain technology. And I believe the high quality cryptocurrencies will be utilized in China, which includes TKY. Please stay tuned.
Note that she sounds quite confident that a solution is in the works for ‘legitimate’ blockchain projects. You would almost forget that most of the investors in TKEKEY are currently foreign investors. A shift in the Chinese policy would probably result in a tide lifting all ‘legitimate’ boats.
THEYKEY’s founder further used the AMA forum to clarify that the project is now focused on improving the MVP of its BDMI technology and is working towards Mainnet launch. It will also continue pursuing its goal to connect the PII data of over half a billion Chinese citizens by mid next year. She did specify that this means that THEKEY aims to achieve this amount of coverage when it comes to its capability as an IDV service. This does, however, not say anything about user adoption. The objective is to boost connectivity of PII data from the current 210 million citizens across 66 Chinese cities to 150 cities and 500 million people.
The community supporting the project has been fortunate to have a ‘Team’ behind the THEKEY that has been continuously delivering on its promises. Now that the MVP is here, the focus is slowly shifting to what is coming up next. As the minimum viable product/service is in place, it is only natural to further explore the growth potential. While THEKEY’s achievements in China speak for themselves, it seems that we are in for more good news when it comes to international expansion. I’ll leave the following excerpts of the AMA session do all the talking.
Question: “can you tell us more about the trip to America, like wat is the main purpose of the trip beside the the speech? is it to seek for partnership?” Answer: “Several goals were achieved during the US trip, which includes the speech and other potential partnership. More news will be released in the future, please stay tuned. Thanks.”
Question: “Does Thekey have plans to develop this service outside of China?” Answer: Yes, we are expanding the business globally. As this point we are in discussion with several governments outside China. Please do stay tuned.”
“It’s time to say goodbye. No promise, but it’s very likely that we’ll have an important press report released around July 5th. Please do stay tuned and hope to see you soon.”
The AMA session left us with many questions answered. However, Catherine equally succeeded – if it was her intention – in having us wonder about the upcoming announcement in July and other potential partnerships. Here at Neonbeginner.com, we’ll try to keep you informed. Do subscribe to our newsletter if you’d like to receive our updates straight into your mailbox.
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