A Letter from Justin
This is Justin Park, the CEO of Metadium.
First, my team and I would like to thank you for your continued support of Metadium’s objectives, vision, and progress.
Looking at the overall trends of the blockchain industry, our team is constantly striving to protect investors in accordance to future anticipated regulations.
However, the market is still influenced by the price fluctuation of Bitcoin and Ethereum, and unfortunately, the technical achievements and marketing efforts of individual projects are not being evaluated in an objective manner.
I would like to discuss the current situation and direction of Metadium in the details below.
The Need for the Discovery and Defining of a New Market Over Developing New Products
- As we currently lack immediately applicable use cases, we will focus on creating new value propositions by first refining the public’s understanding of Metadium’s objectives and technical progress and improving our technological capabilities.
- Metadium aims to create tangible products that would lead to the development of an ideal identity ecosystem that includes all of society and allows for the use of identity in the utmost secure and convenient fashion within the near future. We will be focused on creating real solutions for real people in order to realize the mass-adoption of self-sovereign identities rather than simply researching its application for institutions.
- One example of such a product is, the Meta Pass: a blockchain-based multi-identification system with the capacity to replace existing banking and federated authentication methods (i.e. Google). It is currently implemented by Coinplug’s exchange service CPDAX and commercialized as a component of the Meta ID.
- Currently, there are many attempts being made to resolve the technical obstacles and limitations of implementing public blockchains. However, while there is tremendous potential for creating new opportunities and markets with this technology, the use-cases and the integration of public blockchains into services has yet to be fully fleshed out and therefore remains lacking. Thus, the full actualization and implementation of the technology is expected to take at least a year or two. Metadium is focused on achieving optimal business results (such as in creating intrinsic value of tokens) based on our public-blockchain centric philosophy, extensive technological prowess, and service know-how.
- Our Meta ID’s authentication module has been incorporated into CPDAX’s exchange service and registration verification process. As it has already been commercialized for Kookmin Card and Hyundai Card, the security of the CPDAX registration process authentication module has been verified.
- The MVP, initial pilot test, and internal demonstration of the Meta ID application has been completed in this past week. The planned release of the Meta ID is set for the same time as the Mainnet’s launch, but efforts are currently underway to hasten the release to an earlier date.
- Our business development efforts will be focused on establishing strategic partnerships for the commercialization of the Meta ID. We are currently receiving numerous partnership suggestions and requests related to decentralized identity standards from both domestic and international public and private institutions.
- To effectively communicate with our community members and to attract new supporters and investors, we will be releasing an “Ecosystem Paper” detailing our services and token economy mechanisms and an early version of our “Technology Paper” covering in-depth technical details.
Preparation for Leap
- To maximize the returns of all our investors, we are planning to strategically proceed at the opportune moments to ensure the greatest long-term impact and success.
- Partnerships and collaborations aligned with Metadium’s business direction and strategies are already taking place globally.
- We wish to sincerely apologize that our tier-one exchange listing planned for the end of November must be postponed. This is due to a multitude of factors, namely our exchanges’ decision on the listing dates, our prior exposure, and the market’s overall condition. We will relay an announcement addressing this in a clear manner as soon as possible.
- The longest bear market period during the last 10 years of Bitcoin’s history lasted for 550 days, and we are experiencing the sharpest decline which has lasted for almost a year. Although each of our community members may have their own opinions, we as a company will observe and choose the opportune moment to counterattack.
That being said, we as company take our responsibility to our investors and community members seriously, and we will make every effort to listen to each of your opinions carefully and respectfully.