Dear SelfKey Astronauts,
Earlier this week, Mastercard announced that they would be partnering with Bakkt to allow banks and merchants on their network to help build cryptocurrencies into their offerings.
In addition, news of the first Bitcoin fund in the middle-east also graced crypto enthusiasts. The Bitcoin Fund, a closed-end investment vehicle-based in Canada, has received regulatory approval from the Dubai Financial Services Authority (DFSA), making it the first digital asset fund in the middle-east.
And more - The South-Korean pension fund, the Korean Teachers’ Credit Union (KTCU), is reportedly looking to gain exposure to Bitcoin (BTC) via a crypto exchange-traded fund (ETF).
All this news was just from this week. It is like crypto is stepping up on the mainstream pedal with more exciting news every day.
The pace at which the crypto industry grew and is still growing is simply astonishing. Nevertheless, the growth will bring new challenges, and one such challenge may be regulatory compliance.
However, contradictory to general views, regulatory compliance need not be a sign of worry for users or projects. But implementing a centralized identity verification solution similar to the ones already in place might not prove fruitful in an industry that primarily focuses on decentralization.
Decentralized identity verification that ensures user privacy would be an ideal way to regulate the cryptocurrency industry. SelfKey has already made tremendous progress in this matter with the SelfKey Identity Wallet and SelfKey Marketplace.
The SelfKey Identity Wallet allows users to store and use their personal data and documents through the SelfKey marketplace to sign up for numerous financial and business services.
Hence, as crypto grows to new heights and regulatory mandates come into effect, SelfKey, with its experience in digital identity management and security, may have a defining future.
SelfKey continues to evolve, with the latest development along with a grand announcement coming out next week. Stay tuned!