MUI MetaBlockchain Use Cases

Central Bank Digital Currency

The most beneficial application domain of MUI MetaBlockchain is the publication of CBDC(Central Bank Digital Currency). Utilizing the structure of Bank Node, MUI MetaBlockchain supports the model of M2 currency publication. Based on the asset of M1 base currency from the central bank, commercial banks can generate M2 currency dynamically on MUI MetaBlockchain. SovereignWallet users use CBDC and can participate in operating CBDC with mobile full nodes. MUI MetaBlockchain supports the fractional reserve banking model. Currency Exchange between digital currencies published on MUI MetaBlockchain can be swapped atomically. This provides a simple currency exchange on a mobile device. MUI MetaBlockchain’s unique chain code structure and identity-based account system enable special monetary policy to be implemented. Redenomination of CBDC can be performed on-chain. The cost of performing onchain redenomination is just a fraction of the cost of publishing new paper currency and collecting and destroying old currencies. With MUI MetaBlockchain’s chain code, the implementation of basic income or disaster-aid can be paid programmatically. By running the basic income chain code, it is possible to increase the balance of all citizen’s account balance. Based on the user’s identity, eligible users can be selected or the user can prove himself or herself to receive the money by presenting VC(Verifiable Credential)s.

Digital Stock Exchange

With its identity-based feature, MUI MetaBlockchain is a perfect tool to build Digital Stock Exchange. Corporate stock can be published easily on MUI MetaBlockchain. Since MUI MetaBlockchain uses identity-based transfer, the transfer of tokenized stock is actually an ownership transfer. Also, MUI MetaBlockchain’s Identity Blockchain eliminates the need for paper-based public notarization. Various Assets can be tokenized on MUI MetaBlockchain. There is a direct link between the ownership of assets and the user’s identity in MUI MetaBlockchain. This simplifies the ownership transfer along with the token transfer. With Asset Registration Blockchain, the oracle problem of the link between the tokenized assets and physical assets can be established. With Public DID(Decentralized Identity) on Identity Blockchain and VC(Verifiable Credential) from the legal entity, legal and physical ownership can also be verified.

When users are trading digital stocks or assets in a peer-to-peer way, MUI MetaBlockchain provides an atomic swap of digital stock and digital currency. Since digital stock is bind to the user’s identity, ownership transfer notification and tax payment can happen at the same time as the stock trade. This eliminates the need for separate shareholder registration, issuance of shareholder certificates, tax reports to the government, and tax payments.

Stable Coins, Tokenized Assets, and Wrapped Cryptocurrencies

With its collateralized asset blockchain and a digital certificate issued by a trusted identity, MUI MetaBlockchain provides a one-stop solution to generate stable coins and tokenized assets. MUI provides identity-based token transfer and it is fully compliant with FATF(Financial Action Task Force)’s recommendations. It can be used by the conventional financial institute to publish stable coins backed by various assets such as gold, oil, or other fiat currency.

With MUI MetaBlockchain, it is possible to overcome the cost and performance issues of many cryptocurrencies. Based on the collateralized asset of Bitcoin, the user can generate a MetaBlockchain version of Bitcoin, let’s name it Meta-Bitcoin. This Meta-Bitcoin is then traded with other users or use it as a payment to purchase other goods or services. Then the merchant who received Meta-Bitcoin has a 100% guarantee that it can be converted to original Bitcoin by claiming Meta-Bitcoin to the Bank Node who published it.

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