META WORLD gets invested up to USD 20 million from SAPA Thale Group to develop Blockchain projects
SINGAPORE - Media OutReach - 7 January 2022 - SAPA Thale group, specialized in ventures just announced that it has invested USD 20 million in the Blockchain ecosystem called Meta World (METAD) developed in Switzerland.
META WORLD aims for "a large digital economy" that will open up right inside the virtual universe under construction.
Billionaire Mai Vu Minh, the Executive Chairman of SAPA Thale group said that with Meta World, SAPA Thale aims for "a large digital economy" that will open up right inside the virtual universe under construction. Trade will be a big part of Meta World, where users can sell both physical and digital products.
"Meta World (METAD) will create millions of jobs for developers and creators, and be one of the most advanced digital infrastructures in the world" added billionaire Mai Vu Minh.
"This ecosystem will be developed in 6 areas: Smart contracts, financial services, play-to-earn games (GAMES - NFTs), supply chain, health care and cryptocurrencies to serve the ecosystem and partners of METAD worldwide" said Michael Sam, CEO of Meta World..
- Smart contracts: Blockchain-based smart contracts are proposed contracts that can be partially or fully executed or enforced without human interaction. One of the main objectives of a smart contract is automated escrow. A key feature of smart contracts is that they do not need a trusted third party (such as a trustee) to act as an intermediary between contracting entities -the blockchain network executes the contract on its own. This may reduce friction between entities when transferring value and could subsequently open the door to a higher level of transaction automation.
- Financial services: Within financial services, Meta World offers distinct blockchain products and services that conjoin our deep technological expertise with our traditional advisory and financial services experience and domain knowledge. Meta World is enabling and driving change across sectors. It is pro-actively evaluating many of the business ecosystems that can be enabled by blockchain and working with our clients to manage the business transformations made possible by this technology. Securitization, Payments and settlements, Intercompany settlement, Syndicated loans, Digital asset custody.
- Games Play to Earn (GAMES - NFTs): Blockchain technology, such as cryptocurrencies and non-fungible tokens (NFTs), has been used in video games for monetization. Many live-service games offer in-game customization options, such as character skins or other in-game items, which the players can earn and trade with other players using in-game currency.
- Supply chain: Blockchain technology can be used to build applications on which multiple parties can transact directly via a peer-to-peer network, without the need for a central authority to verify transactions. Each network participant has access to a shared ledger that immutably and cryptographically records all transactions, and there is no single network owner.
- Healthcare: Blockchain has a wide range of applications and uses in healthcare. The ledger technology facilitates the secure transfer of patient medical records, manages the medicine supply chain and helps healthcare researchers unlock genetic code.
- Cryptocurrencies: A cryptocurrency is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. Cryptocurrencies use encryption to authenticate and protect transactions, hence their name. There are currently over a thousand different cryptocurrencies in the world, and many see them as the key to a fairer future economy.
SAPA Thale sees the potential of Blockchain use for ensuring supply chain transparency, enabling quick transaction payments, digitalizing art and ensuring data privacy.
"Using Blockchain can bring unprecedented security, trust, automation and efficiency to almost any type of transaction" said SAPA Thale's Chairman.
The issuer is solely responsible for the content of this announcement.