Hao Wang, representing MetaBank, will be a notable presence at the ICT Spring Conference in Luxembourg, sharing insights on the future of banking and financial innovation, and providing valuable perspectives on the evolving landscape of the industry.
Can you provide an overview of MetaBank’s role as a digital civilisation accelerator and how you utilise blockchain technology for holistic digital transformation in developing countries?
MetaBank plays a pivotal role as a digital civilisation accelerator, driving holistic digital transformation in developing countries through the utilisation of blockchain technology. Our mission is to empower nations to embrace the digital era, enhance economic growth, and foster social development.
We recognise that blockchain technology is a transformative force with the potential to revolutionise various sectors. By leveraging blockchain’s decentralised and transparent nature, we enable developing countries to build robust digital ecosystems. These ecosystems facilitate secure and efficient digital transactions, promote financial inclusion, and enhance access to essential services.
Our approach to digital transformation revolves around collaboration and knowledge sharing. We work closely with governments, local communities, and stakeholders to understand their unique needs and challenges. Through strategic partnerships, we implement tailored blockchain solutions that address specific pain points and drive sustainable development.
One key aspect of our role as a digital civilisation accelerator is the promotion of digital identity systems. Digital Identities provide individuals with secure and portable credentials, enabling them to access a wide range of services and participate in the digital economy. By leveraging blockchain’s immutability and cryptographic security, we ensure the integrity and privacy of these digital identities, empowering individuals while safeguarding their information.
Another area where MetaBank excels is in the digitisation of assets. By leveraging blockchain’s ability to tokenise assets, we unlock new opportunities for fractional ownership, increased liquidity, and simplified asset management. This enables developing countries to harness the value of their assets, such as real estate or intellectual property, and attract investment from a global pool of investors.
In addition, MetaBank supports the establishment of national digital exchanges, creating platforms for seamless and secure trading of digital assets. These exchanges facilitate the efficient flow of capital and promote investment opportunities, driving economic growth and empowering local businesses and entrepreneurs.
Ultimately, our role as a digital civilisation accelerator is to empower developing countries with the necessary tools and infrastructure to navigate the digital age successfully. Through blockchain technology, we foster transparent governance, financial inclusion, and sustainable growth, positioning nations at the forefront of the global digital economy.
What strategic blockchain-based solutions does MetaBank offer to governments to help them build their digital infrastructure and economy?
MetaBank offers a range of strategic blockchain-based solutions under the umbrella of Open3 to assist governments in building their digital infrastructure and economy. These solutions are designed to empower nations and drive their digital transformation. Here are our offerings:
- Open Identity: MetaBank provides governments with Open Identity solutions, revolutionising digital identity management. Through Meta ID, individuals can seamlessly link their Web2 and Web3 identities, ensuring data security, privacy, and availability. This solution enables governments to establish a robust and trusted digital identity framework for their citizens.
- Open Finance: MetaBank’s Open Finance solutions unlock the potential of digital financial services. Governments can leverage the power of blockchain technology to create secure and efficient payment ecosystems. With offerings such as dual-card (VISA/Mastercard) options and the stability of DUSD (official digital currency), governments can drive financial inclusion, streamline transactions, and foster economic growth.
- Open Assets: MetaBank facilitates the integration of Real-World Assets (RWA) into the blockchain through Open Assets solutions. This allows governments to tokenise and digitise assets, driving liquidity and unlocking new possibilities for investment and economic development. With sovereign credit backing and established standards, governments can ensure transparency, security, and trust in their digital asset ecosystem.
By implementing these measures, MetaBank empowers governments to build a resilient and inclusive digital infrastructure. The Open3 framework enables governments to harness the transformative potential of blockchain technology, driving economic growth, enhancing citizen services, and driving their digital transformation.
Could you elaborate on the upcoming launch of the Digital Civilisation Token (DCT)? What is its purpose and how will it contribute to MetaBank’s goals?
**Please note that the Digital Civilisation Token (DCT) has been renamed and is now the Digital Civilisation Chain (DCC). The new name does not affect its purpose or function.
The upcoming launch of the Digital Civilisation Chain (DCC) is an exciting milestone for MetaBank and a significant step towards achieving our goals. DCC has a clear purpose: to fuel the digital transformation and growth of the global digital economy.
As a utility token, DCC will play a crucial role in the ecosystem we are building. Its primary function is to power transactions and interactions within the MetaBank network, enabling users to access a wide range of digital services and participate in the digital economy. DCC will serve as a means of exchange for various services, including digital identity creation, payment processing, tokenisation of real-world assets, trading on digital exchanges, and more.
Furthermore, DCC will empower individuals and communities by providing them with enhanced financial inclusion and access to digital services. By utilising DCC, users will be able to transact securely, access exclusive features, and participate in the governance of the MetaBank network. This ensures that the community has a voice in shaping the direction and evolution of our platform.
In addition to its immediate contributions, DCC aligns perfectly with MetaBank’s long-term goals. It facilitates the establishment of a robust digital infrastructure and economy, fostering economic growth, innovation, and social development. By leveraging the power of blockchain technology and DCC, we aim to bridge the digital divide and empower individuals and businesses in both developed and developing countries.
Overall, the launch of the digital civilisation chain (DCC) marks an important milestone for MetaBank as we continue to drive the digital transformation agenda. It not only enables secure and seamless transactions within our ecosystem but also empowers users and contributes to our broader goals of building a thriving digital economy and inclusive digital infrastructure. We are excited about the potential of DCC and the positive impact it will have on our community and the digital civilisation at large.
Can you share more details about the wallet app and accompanying card that MetaBank plans to launch in June? What functionalities and features can users expect?
The wallet app that we will launch in June is an extension of our partnership with Lao PDR in launching DUSD, which is the Laos stablecoin that we have created.
Deposits: Our wallet app supports convenient and seamless deposits, allowing users to deposit fiat currencies and stablecoins through purchasing or exchanging. We prioritise user convenience and ensure there are no deposit fees, providing a cost-effective way to add funds to the wallet.
Withdrawals: With the Laos National Bank (LNB) digital wallet, users can easily withdraw funds by exchanging DUSD for other digital stable tokens. We have taken great care in designing a secure and efficient process for online withdrawals.
Transfers: One of the key features of our wallet app is the ability to make real-time, fee-free transfers between LNB digital wallet users. This allows for seamless peer-to-peer transactions, enabling users to send and receive funds instantly.
Overall, our wallet app and accompanying card offer users a comprehensive suite of functionalities for managing their digital assets. From convenient deposits with no fees to secure and efficient withdrawals, users can expect a seamless and user-friendly experience. Additionally, the ability to make real-time transfers without any fees within the LNB digital wallet ecosystem enhances the ease of transactions.
Could you provide insights into the agreement MetaBank has reached with the Lao PDR government and how your services will contribute to establishing their digital economy?
MetaBank is proud to have reached an agreement with the Lao PDR government, which lays the foundation for establishing a robust digital economy in Laos. We foresee our services and expertise playing a pivotal role in this transformative journey.
Through our partnership, we aim to leverage blockchain technology and innovative solutions to drive the digital transformation of Laos. One of our key contributions is providing comprehensive digital infrastructure and financial services that will empower individuals, businesses, and government entities in Laos.
MetaBank’s services will enable secure and efficient digital transactions, financial inclusion, and access to essential digital services. We will work closely with the Lao PDR government to establish digital identity systems, develop digital financial infrastructure, and facilitate the digitisation of assets. These initiatives will enhance financial inclusivity, streamline processes, and foster economic growth in Laos.
Furthermore, our collaboration will focus on building a national digital exchange and facilitating the trading of digital assets. This will provide a platform for investors and businesses to engage in secure and transparent digital asset transactions, contributing to the growth of the digital economy in Laos.
We understand the importance of capacity building and knowledge transfer to ensure sustainable growth. Therefore, MetaBank will also support the Lao PDR government in training programs and initiatives aimed at building local expertise in blockchain technology and digital financial services. By nurturing local talent and skills, we aim to create a thriving ecosystem that can sustain the digital economy in Laos.
In summary, our agreement with the Lao PDR government reflects MetaBank’s commitment to leveraging blockchain technology and digital solutions to support the establishment of a vibrant digital economy in Laos. We are excited about the opportunities this collaboration presents and look forward to working closely with the government and other stakeholders to unlock the full potential of digital transformation in Laos.