[AjuNews] CEO David Kim Do-yeon said, “Cryptocurrency should be supplemented, not replaced by legal currency.”
Agreement with Marx Project, CyrexPay, UnionPay, and Inblock
Entrusting third parties through Meta Wallet to strengthen transparency.
“Increasing market transparency will speed up the development of cryptocurrency markets.”
The blockchain project “MarX Project,” which aims to build an irreplaceable token-based value conversion platform for real assets, has signed business agreements with domestic and foreign partners and is expanding its network to support actual NFT transactions.
MetaverseSociety, which leads the MarX Project, recently signed an agreement with payment agency CyrexPay, Chinese credit card company UnionPay, and IBM’s Hyperledger Fabric-based cryptocurrency “Metacoin” and said it is negotiating further for the project.
This is drawing attention in line with the recent situation in which investors lose money and operators lose momentum as large exchanges, conscious of tightening regulations by domestic financial authorities, are moving to delist cryptocurrencies issued on various projects.
MetaverseSociety has been focusing on collaboration with partners who are actually carrying out projects since the project planning stage before signing agreements with CyrexPay, Inblock, and UnionPay. Previously, it presented direction for MarX Project through white paper and is currently in process of implementing it.
The MarX Project is aimed at eliminating the intermediate stage of distribution in digital-based commodity and goods transactions and directly connecting value producers and consumers to “support ethical economic and social activities and provide digital value conversion platforms for real assets.”
Early last month, it opened an NFT marketplace to trade NFTs for artworks, followed by establishing its own SwapDEX to support transactions with NFT Marketplace.
In addition, it is developing an internal system to issue and distribute ‘ticket-type NFT’, ‘coupon-type NFT’, and ‘bow-type NFT’. The NFT deal plans to create a token economy with partners by utilizing MarX Token, which was recently listed on the global exchange “Liquid.”
David Kim Do-yeon, CEO of MetaverseSociety, expressed regret over the recent project of large exchanges to delist poor cryptocurrency, but said, “It is something that needs to be done once to build a healthy market environment.”
“If the market becomes more transparent after the transitional period, the cryptocurrency market will develop faster,” he said. “Considering the movement to digitize legal currency and the continued tightening of regulations, it is desirable to pursue complementary token economy rather than replacing legal currency.”
MetaverseSociety recently entrusted its MarX token to ‘Meta Wallet’ to third party to increase transparency. Meta Wallet is a cryptocurrency wallet powered by Hyperledger blockchain on IBM’s security server “Linux One,” which has obtained international common evaluation standard (CC) certified EAL5+ grade security.
David CEO Kim advised, “Many investors do not check the white paper properly, but they must check the business and technology aspects contained in it for investment, and legally review whether they can proceed within due process and scope, and whether there is anything dangerous or illegal.”
“Personally, I think we need to think more about how to form a token economy ecosystem,” he said to other cryptocurrency projects. “The cryptocurrency project should be able to be a healthy socioeconomic pillar.”
