MetaBlox Protocol: A DID driven Web3 User Centric Network

Name of Project

MetaBlox.io

Proposal overview

An on-chain composable identity is a digital representation of an individual stored on a blockchain. Using on-chain identities means that businesses can rely on verification instead of trust when hiring candidates. They could also be used to complement KYC compliance, for voting, deciding who to delegate tokens to within a DAO, and more.

MetaBlox is a DID-driven Web3 User-Centric Network Protocol. It will enable developers to disrupt the current Web2 telco/platform-centric network foundation into a decentralized foundation for Web3 user-centric infrastructure. The project is initiated by members who have extensive experience in blockchain, telco, IoT and fintech. MetaBlox has already raised $2M USD in funding (led by Synergis and Collab+Currency).

MetaBlox protocol is developed from DID W3C standards. It is independent of blockchain design and could work with all major L1 EVM networks. The protocol supports the DID integration with Hotspot 2.0 (IEEE 802.11 u), allowing an easier and more secure connection to public WiFi hotspots. Hotspot 2.0 is supported in the latest version of Windows 10, macOS 10.9 or newer, Android 6.0 or newer, and iOS 7 or newer. MetaBlox integration with Hotspot 2.0 networks aims to provide cellular-style “web3 roaming” for WiFi networks in major L1. As you move around the world with your Web3 DID, your device automatically connects you to all available public hotspots and all defi/nft dapps.

This will make a decentralized high-speed wireless network FREE. It does not require any centralized operator, but this network will provide a more accessible and more secure public WiFi. MetaBlox has demonstrated its proof-of-concept with a world-leading telco, achieving <150 ms response time, > 1 million DID and VC, and > 3000 TPS. And Metablox is looking forward to deploy on a tier 1 blockchain such as ONE.

Besides broadband wireless access, MetaBlox will use DID / VC to provide decentralized edge computing as well edge storage/cache systems to support a decentralized foundation layer for native Web3 applications. As a DID-driven protocol with supporting infrastructure, MetaBlox can also support other applications in DeFi KYC, GameFi ID, NFT airdrops and etc. It will release a mobile app for users to manage their DID profiles and related applications across multiple blockchains.

MetaBlox token (MBLX) functions as a utility token in the network. Anyone who wants to provide services to the users needs to spend MBLX. MBLX is also needed during the election of the community management committees.

Market

Metablox blockchain DID based technology allows for users to create and manage digital identities through the composiblity of the following components:

  • Decentralized identifiers
  • Identity management
  • Embedded encryption

The anchor application: decentralized Free web3 WiFi network shall have a larger market potential over Helium (market cap ~ 3 billion) as the latter primarily focuses on IoT narrowband data. Note that the WiFi gateway market is > 10 billion USD per year with over 500M devices globally.

On chain Identity market is estimated at 10 billion increase annually.

Roadmap

  • Technology:

– POC Dec 2021 (completed)

– Alpha testing: Q1 2022

– Initial launch: Q2 2022

– Decentralised edge computing POC: Q4, 2022

– Complete release, Q4 2023.

  • Business:

– Miner commercial launch: Q2 2022

– First MetaBlox Web3 experiencing zone: Q4, 2022

– > 400,000 web3 wifi nodes, Q4 2023

  • Tokenomics:

– Seed round (completed > 2 M USD)

– Strategic VC round, April 2022

– IDO Q2 2022

– Become deflation token, 2026

Team

The team includes industry leaders in telco, fintech and blockchains, including senior executives from Qualcomm, Telus, Philippines DICT; a web3 blockchain engineering team who wins the first Canadian Federal Government blockchain project; as well as smart city veterans.

Team members are mainly in Vancouver, and the Philippines.

Proposal ask

$250K in MetaBlox strategic VC round, with the valuation of 0.15 USD/Token, with an initial total market cap of 39M at TGE, and a total fully diluted market cap at 150M.

Metrics for success

Phase 1 - Complete integration of Metablox protocol with 2 major L1 (such as Harmony L1 EVM). Project initial launch with Harmony in NYC NFT June 2022

Phase 2 - Commercial Release MetaBlox miners in 2022

Phase 3 - 5 additional applications other than decentralized Web3-WiFi by the end of 2022

External links

MetaBlox website: metablox.io

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Super excited on the metablox project and investment opportunity. Harmony will invest in Metablox!

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The investment was funded.