What is Skey Network?
SmartKey (SKEY) is a groundbreaking platform that bridges the gap between physical assets and decentralized finance (DeFi) projects on the Ethereum blockchain. With a clear vision outlined in its whitepaper, SmartKey aims to unlock the full potential of DeFi by enabling users to create innovative business models around traditional car rental, carsharing, and home rental services. Leveraging the power of Blockchain Internet of Things (BIoT) technology, SmartKey creates unique smart contracts in the form of NFT tokens, revolutionizing the way physical assets are connected to the digital world.
The concept of the Internet of Things (IoT) involves connecting various devices to the internet and enabling them to communicate with each other. SmartKey takes this concept a step further by integrating BIoT, which links the unique IT records of IoT devices to the blockchain. By installing these devices in cars, gates, homes, and more, users can establish a secure and transparent connection between physical assets and the Ethereum blockchain. This connection allows for the creation of NFT access tokens, which serve as a digital representation of ownership and access rights.
The NFT access token is a fusion of three key technologies. Firstly, BIoT establishes the connection between the IoT device and the blockchain, ensuring the integrity and immutability of the access token. Secondly, Oracle II is utilized to verify external factors that may impact the value of the asset, such as weather conditions or seasonality. Additionally, Oracle II can validate user-related information, including credit records, which are crucial when executing smart contracts for renting apartments or cars. Lastly, smart contract conditions are implemented to customize the access token according to the issuer's preferences. These conditions encompass variables such as contract expiration time, access time, price, user verification rules, deposit amount, and more. The combination of these three technologies culminates in the creation of the Skey Network, a smart contract embedded within an NFT token.
One of the primary challenges SmartKey aims to address is the complexity and inefficiency of transactions involving physical and digital assets. Traditionally, such transactions require multiple stages, including converting one digital asset to another and then converting the digital asset into traditional currency. Each stage introduces intermediaries that charge fees or commissions, resulting in value loss. SmartKey revolutionizes this process by serving as a single bridge between physical and digital assets, significantly reducing network fees and preserving the value for asset holders.
At the core of the SmartKey ecosystem is the SKEY token, the native cryptocurrency that fuels the platform. The total supply of SKEY tokens is set at 1,000,000,000. Distribution of the tokens is as follows: 30% allocated to the BoTGlobal company, 20% assigned to the team, and 10% dedicated to marketing efforts. An additional 10% each is allocated to the Pre-sale Stage A, Stage B, and UniSwap. Lastly, 5% is distributed among the Exchange and reserve, respectively.
In conclusion, SmartKey (SKEY) is a groundbreaking platform that connects physical assets with DeFi projects through the power of BIoT technology. By leveraging NFT access tokens and smart contracts, SmartKey enables users to unlock new business models within the car rental, carsharing, and home rental sectors. With its focus on simplicity, transparency, and cost-efficiency, SmartKey revolutionizes the transactional process between physical and digital assets, eliminating intermediaries and preserving value for asset holders. As the platform continues to develop and expand, SmartKey is poised to reshape the landscape of decentralized finance, empowering users to harness the full potential of their physical assets in the digital realm.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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