THEKEY Project is now developing a second-generation IDV solution based on NEO blockchain for the internet via BDMI technology. BDMI stands for?°Blockchain based Dynamic Multi-Dimension Identification?± technology. BDMI, and the results generated from online IDV are undeniable and unalterable.THEKEY Project team will also develop THEKEY Ecosystem for providing IDV services (the "Ecosystem"). The THEKEY Ecosystem will consist of three components of participants (Validator, Service Provider and Individual User), Smart Contracts and TKY Tokens (THEKEY Token). The objectives of setting up THEKEY ecosystem are, 1) to develop a healthy environment where Personal Identity Information (?°PII?±) can be properly used and protected, and 2) to provide a financial incentive to the participants in the Ecosystem.Compared to other peers in IDV industry, who are also applying IDV into Blockchain, BDMI has the following three advantages:?More reliable results ¨C The supporting data is gathered in real time, is comprehensive, accurate and reliable. The data is also validated in advance by government agencies or other public institutions.?Lower cost - Full use of existing data sources. Avoidance of duplicate work for data collection, processing and authentication, ?Better user experience ¨CIt is not necessary for individual users to install any application or upload any information. For successful development of BDMI, the THEKEY Project Team has already achieved the following, ?23 copyrights have been obtained, 15 patents have been accepted by SIPO (State Intellectual Property office of the P.R.C) and start attestation process.?THEKEY?ˉs first-generation IDV solution is currently in use for mobile social insurance pay in two pilot cities, which people can receive their payment for their pension, or healthcare insurance reimbursement. The IDV solution is currently being deployed in another 41 cities, covering more than 130 million people. ?Personal identity data of 210 million people in 66 cities, authenticated by the relevant government authorities, are connected on a real-time basis. This constitutes a solid foundation of IDV. ?Commercial contracts signed with world-leading firms and the business model of our IDV products has already been partly proven.?Six relevant national laboratories have been set up together with government agencies, banks, insurance companies and one university.