Place/Date: - July 7th, 2021 at 10:46 am UTC · 4 min read
Contact: MetaverseSociety Corporation, Source: MarX
The crypto market is noisy and hot. Countries are pouring in new regulations, and investors see a big buy-out of prices. Many projects that are open to the public are also well-performing. However, some healthy projects are conducting business as planned according to the white paper they published. MarX is also one of them. This project started with a unique ambition to support ethical economic, social activities by directly connecting value-givers and value-managers to provide a digital value conversion platform for physical assets.
Since the beginning of the project, MarX has published transparent and objective data to the market through differentiated white papers and received technical reviews through legal reviews and overseas specialized organizations. In recent years, the number of tokens held has been increased through digital asset trust in meta wallets. These wallets are encrypted running on IBM Security Server Linux One, with EAL5+security levels in International Common Criteria CC, and are based on hyperledger technology.
MarX has started and disclosed collaborations with influential partners who are conducting real business from the project planning phase. The company has also signed agreements with strong partners such as CyrexPay, Inbloc, and China’s UnionPay to strengthen its business structure. Additionally, there are consultations still known to be underway.
The company is on track with its process of refining the token economy. In early June, MarX also opened the ArtNFT Trading Marketplace and recently started trading in the NFT Marketplace by building a SwapDEX to help users with their trading convenience. After the completion of the internal system, the development will begin to issue and sequentially distribute ticket type NFT, coupon type NFT, voucher type NFT, etc. Through utilizing these NFT transactions Marx tokens will create a token economy with partners. Furthermore, the company also listed on the global exchange Liquid the other day, which is very challenging to record, completing its objective verification,
David DoYeon Kim, head of MetaverseSociety Corp, which runs the MarX Project, said “It was an essential gateway to building a healthy market environment” but expressed his pain at projects that have been struggling with sudden situations in recent years. He stressed that it is essential to “stay true to the basics and proceed with business normally” to go beyond these issues.
The most fundamental thing about working on a crypto project is the white paper that releases the project first. Many investors do not adequately check these documents of crypto assets they are investing in. A legal review is essential, as the business must be identified and reviewed for non-speculative investments. Crypto projects need to examine what is mentioned in the actual white paper or whether the business they are trying to conduct will proceed within due legal process and scope that excludes any risk followed by technical reviews. Existing blockchain technology should be verified as it’s applied to maintain objectivity, transparency and fundamentally protect investors from major cyber threats.
Additionally, through this, the exchange can prove its listing to investors. As investors will participate in investments with confidence only if they have passed the standards and reviews of the exchanges and appropriately traded. A recent series of situations shows that the problem occurred because at least one or two of these basics were not met.
After a transitional period, the cryptocurrency market is expected to develop faster as the market becomes sounder and transparent. However, considering how each country is expanding its digitalization of cryptocurrency and the continuous strengthening of regulatory policies, it isn’t easy to proceed with regular business with traditional routine projects. Mr. Kim said,
“It is desirable to build a complementary token economy rather than an attempt to challenge or replace the legal currency, and to aim for an efficient economic ecosystem.”
He expressed his personal opinion that more concerns need to be made about how to form the token economy. He expects cryptocurrency projects to be sound and the main building of this so-called socioeconomics.