PARAMETA Wins KISA Project to Build National “Public Blockchain Shared Infrastructure”

SEOUL, June 20, 2024 — PARAMETA Corp. (formerly ICONLOOP, CEO Jonghyup Kim), a leading Web3 Enabler, announced that it has secured the government-led project to build the “Public Blockchain Shared Infrastructure.”

The initiative, promoted by the Ministry of Science and ICT (MSIT) and the Korea Internet & Security Agency (KISA) as part of the 2024 Blockchain Expansion Project for the Private Sector, aims to establish a government-operated national blockchain infrastructure in line with the global trend of treating blockchain as a strategic national technology.

PARAMETA has been selected as the lead operator of the project and will form a consortium with Fingerlabs Inc. (CEO Sangseok Lee) to build the infrastructure, which is scheduled for deployment in 2025.

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Transforming Public Blockchain Adoption through a Shared National Infrastructure

In the past, local governments and public institutions developed independent blockchain platforms for each service, making it difficult to expand or interoperate with other systems.
This resulted in redundant investments, low operational efficiency, and fragmented user experiences, as citizens were required to install multiple digital wallets for different services.

The new Public Blockchain Shared Infrastructure to be built by the PARAMETA consortium will enable efficient development, operation, and interoperability of public blockchain services through a shared, subscription-based model.
This approach is expected to reduce blockchain adoption costs by up to 90% compared to conventional methods, while providing a unified wallet system that enhances user convenience and promotes a citizen-centric national platform.

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Integration of Proven Platforms and Cloud Security Compliance

PARAMETA and Fingerlabs will adapt their proven blockchain platforms for use within the public sector, while also obtaining Cloud Service Security Certification (CSAP) — a mandatory requirement for government cloud services in Korea.
Based on extensive operational experience, the consortium will also add new developer-friendly management and automation tools to enhance usability and efficiency.

Under the project:

• PARAMETA will leverage its “MyID” decentralized identity (DID) platform to power public-sector digital identity and authentication services.
• Fingerlabs will utilize its FAVORLET NFT-based customer management solution to expand blockchain DID and NFT service models within the shared platform.

Additionally, PARAMETA will integrate its “ZZZing” digital wallet, based on the MyID platform, to unify previously fragmented functions — such as identity, credentials, and digital assets — into a single, cohesive wallet experience.
This will provide citizens with a consistent entry point and UI/UX, increasing accessibility and familiarity with blockchain-based public services.

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Statements from Project Leaders

“With the Public Blockchain Shared Infrastructure, government agencies can now easily implement blockchain-based services without the burden of building their own infrastructure,”
said Jonghyup Kim, CEO of PARAMETA Corp.
“PARAMETA will continue to deliver trusted and competitive blockchain services that meet the standards of the shared national framework.”

Sangseok Lee, CEO of Fingerlabs, added,
“We’re excited to contribute our Web3 expertise to this landmark public-sector project.
By combining Fingerlabs’ technical capabilities with PARAMETA’s infrastructure, we aim to create an integrated, user-centered blockchain environment that is both convenient and secure.”