Singapore, January 7, 2022 – Sovereign Wallet Network (SWN), the company behind the development of METAMUI identity-based blockchain, has successfully concluded a pilot project with the Sovereign Yidindji Government (SYG), the first indigenous nation on the Australian continent to become a fully digitized nation using MetaMUI innovative technologies on Jan. 7, 2022.
During the six-month pilot project, we have successfully built the first self-sovereign identity-based national identity system and digitized all government services to allow the Sovereign Yidindji Government to become the world's first fully blockchain-based e-government. Future features of the system will include the implementation of an identity-based payment network that enables the Yidindji nation to perform digital transactions using their Yidindji dollar without sacrificing the privacy of their people.
MetaMUI is the first identity-based token blockchain. The design approach of MetaMUI is the complete opposite of that used by most cryptocurrencies and other anonymous token blockchains. While most token technologies follow the anonymous token design of cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc., MetaMUI chose to completely redesign the blockchain structure based on the concept of identity to satisfy the regulatory framework of current financial systems such as FATF’s travel rule.
The MetaMUI SSID app is a self-sovereign identity portal and wallet for various digital assets, such as digital fiat currency, digital arts, digital stocks, gold certificates, real estate certificates, etc. Ownership of the assets is bound to the identity of the user, not to the private key, therefore, it can be recovered should the user lose the private key. A user authorizes the transfer of the asset to another user by signing the authorization certificate on the blockchain. This authorization of critical actions is provided by the MetaMUI SSID app through two-way cryptographic binding.
MetaMUI SSID is a decentralized identity verification app that stores and manages personal information and private keys on the user's device, unlike existing apps that store personal information and private keys on a central server. This fixes the issue of leaking personal information and seizing assets due to private key hacking. Individuals, as well as companies, can create and use public digital IDs. MetaMUI SSID supports a variety of digital tasks, including digital identity verification, proof of vaccination and issuance of electronic signature documents.
A robust e-government system to digitize the entire government services, the MetaMUI SSID app can be employed by users to connect to other public entities such as banks, government organizations, shops, schools, etc, through Pairwise Trust authentication. Commercial sites that have a public identity on the MetaMUI identity blockchain can offer the Pairwise Trust login to their customers. The user no longer has to register the website and create an ID and password. Users can simply connect their SSID to the website through Pairwise Trust connection and login instantly. Users do not need to provide sensitive private information to every website they visit anymore. The MetaMUI SSID app provides seamless login capability without sacrificing private information.
"The “MetaMUI SSID” is the first public identity blockchain that allows anyone and any organization to create their digital identities on the internet, owns digital assets and perform true peer-to-peer transactions," said Phantom Seokgu Yun, the company CEO.
"It has been an incredible journey to work with Sovereign Yidindji Government in converting the entire nation into the most-advanced digitized nation with MetaMUI’s innovative technologies," added Mr. Yun
“For thousands of years, the Yidindji people's identity has remained somewhat hidden from the modern world. Thanks to MetaMUI, this SSID application will help identify a Yidindji citizen with relative ease and more importantly with integrity and security. For a small and relatively new government, the identity and the security of person will provide a clear foundation and enhance our intentions to fully realize an e-governance environment,” said Murrumu Walubara, the Foreign Affairs and Trade Minister of the Sovereign Yidindji Government (SYG).
“We hope it inspires other indigenous peoples to identify in their true and correct capacities in how they may choose to participate in both the natural and digital worlds. With the earth closing in on a population of an estimated 8 billion people, the SSID will assist jurisdictions around the globe in learning about the Yidindji nation and its citizens. We are Yidindji,” added Mr.Walubara
On the other hand, the Sovereign Wallet Network (SWN) has now obtained a domestic patent related to the identity blockchain and has completed an overseas PCT application. As a roadmap for 2022, the company plans to introduce: transaction processing rates of more than 1 million transactions per second; a central bank digital currency (CBDC) with offline payments; cross-border payment services; atomic swaps that allow real-time exchange between different CBDCs and nonfungible token (NFT) carbon emission marketplaces through the MetaMUI SSID app.
[SOVEREIGN WALLET NETWORK ‘SWN’] is the genius behind the development of the MetaMUI identity-based blockchain. The Sovereign Wallet Network (SWN) has redesigned blockchain and developed MetaMUI blockchain. We are proud to provide the state-of-the-art 4th generation blockchain with a mainnet launched on January 3, 2021. The Sovereign Wallet has a presence in six (6) different countries globally, with headquarters in Singapore, and offices in Korea, Sweden, the United States, India and Uzbekistan. The MetaMUI blockchain is paving the way towards building the Internet of Sovereign Digital Currencies (IoSDC) and currently employs around 30 people. The company’s website at www.swnglobal.com contains additional information.
The Yidindji people are a rainforest-based society with several clan groups in the area described as far north Queensland on the Australian continent. The Yidindji territory is home to some of the world's most pristine rainforests and is an important gateway to the great barrier reef. Academics and scientists claim the Yidindji people have been around for more than 60 thousand years, so it is one of the oldest living cultures on the planet. In 2014, history was made on September 20 as the official government of the Yidindji nation came into life with the launch of its coat of arms. Since then, the SYG, as it is known, has created several departments and its parliament continues to pass laws for the peace, order and good governance of the Yidindji territory. Currently, SYG has 17 ministers and 22 ministries and plans to be the first government to become fully digitized in its venture towards e-governance.
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