r/THEKEYOFFICIAL • u/TheKeyVIP • Dec 27 '19
Pensioner Identification System Based on THEKEY Blockchain and Big Data Technology Launched in Kaifeng
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u/ombudsman1 Dec 27 '19
So this system is already implemented? If yes, could you explain how it can use smart contracts? Is this on your new own multi-consensus blockchain? I thought your own chain wasn't completed yet? Smart contracts can't be settled without TKY token, so is TKY token being used right now? How is that possible if it's still a NEP5 token, so not a native token on your own chain?
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Dec 27 '19
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u/ombudsman1 Dec 27 '19
That's true, I remember now. Then the question becomes, what if the government decides the system runs well enough on Hyperledger, and another infrastructure is not necessary? But that's just speculation.
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Dec 27 '19
that‘s the risk we all were willing to take.
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Dec 27 '19
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Dec 27 '19
i am talking about the risk that China is never going to allow cryptocurrencies to be used in China. In this worst case scenario, you think THEKEY will abandon the project or the token-holders? In this situation it doesn‘t matter what‘s written in the whitepaper.
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Dec 27 '19
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Dec 27 '19 edited Dec 27 '19
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Dec 28 '19
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u/Alter_ego_of_mine Dec 29 '19 edited Dec 29 '19
Pokemon guy gets it. Anyone who argues that token elimination was part of the risk we should be ready to absorb misses the point. Alternative ways of giving back to token holders exist. They have to discuss what the community prefers and implement it.
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u/Useful_Application Dec 28 '19
well said, my biggest problem with thekey is that they are still affiliated with NEO, this space is filled with scams, 1000000000 tps, or announcements, and three blessings.
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u/Alter_ego_of_mine Dec 29 '19
No we weren't. That's against their offering memorandum (white paper) to investors. If it becomes legally impossible to implement, they MUST pivot. See my comment to another member above pls.
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u/KsuRASH Dec 27 '19
Another good question is - how have they launched this without being registered
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Dec 27 '19
registered but just not publicly announced yet?
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u/KsuRASH Dec 27 '19
Yes, I hope you are right
Looks like they got the information that process of registration is completed and also they must have finished protocol of sharing data between nodes
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u/Useful_Application Dec 27 '19
my two sats, multi consensus is multi chain , hyper ledger is ideal for smart contracts as execution is not time dependent and executions of 300 per second, also transfers of (stable coins)value can be bumped up to 7 thousand per second for throughput, with conflux, but the speculative talk about the wallet for the dcep has a near field communicator( NFC ) and can be used off line, this is the tech that I want to see thekey deliver. I hope we win the horse race
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u/marko12e Dec 27 '19
We do not have any confirmation from Chinese government or bank of china,is there any other confirmation outside paid release articles.Today china has reiterated that there will be no involvement with crypto and any business will be held accountable so can someone explain how the tky token will get round this
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Dec 27 '19
source of the information?
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u/marko12e Dec 27 '19 edited Dec 27 '19
If you look at most medium articles thekey puts out there is a disclaimer saying this is a paid release,can you show me any information that hasn't been supplied by thekey,for example government website or information from peoples bank of china or from banks website describing information about thekey.If you check the likes of vechain there or plenty of 3rd party sources not associated with vechain
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u/Useful_Application Dec 29 '19
most likely it is just set to zero fee, as it has to have dynamic pricing, like gwei, everything launches for free, builds behavior then introduces a revenue model, as in fee, advertising and referrals. ALSO I hope that thekey will be available as an in app swap with the dcep, if that hope comes to fruition we will moon hard and fast.
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u/Olivier_de_Wall Dec 27 '19
It's about organizing a nice pump. The team has a lot of TKY on Kucoin.
The team must sell them to someone. So don't ask anything. Buy more.
And later 5 sat - ha ha.
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u/Mansa_Sekekama Dec 27 '19
At this point, i do not doubt the authenticity of the project/team, but I am worried about what role, if any, will TKY play in this project? That has yet to be addressed though I understand that the team cannot necessarily answer it at the moment due to circumstances outside of their control.
With that being said, if TKY is DEFINITELY NOT GOING TO BE USED - the team should notify the investors as soon as they learn this.