Based on a strategic collaboration with global IT company IBM, InBlock (CEO Sangwoo Chae) is opening up new possibilities in the digital asset market by issuing a cryptocurrency ‘Metacoin’ based on Hyperledger Fabric. Recently, as the latest version of Hyperledger Fabric, the Linux Foundation’s main private blockchain technology led by IBM, supports token issuance and exchange functions, InBlock’s ‘Metacoin’ is attracting attention as a case of leading commercialization of the technology.
‘Metacoin’ is the first cryptocurrency developed based on Hyperledger Fabric, and it has great technical significance in that it applied the most widely used technology among private blockchain platforms. IBM also highly evaluated InBlock’s innovative security technology, and made the unusual decision to assign InBlock to a presentation session at the ‘IBM THINK 2019’ event. This is evaluated as a case that well demonstrates the achievements made through InBlock’s blockchain technology and close collaboration with IBM.
Based on IBM’s powerful private blockchain technology, ‘Metacoin’ effectively overcomes structural vulnerabilities arising from the consensus algorithm of existing public blockchains and has excellent security. In particular, Metacoin stands out for maximizing security by applying IBM’s ‘LinuxOne’, a mainframe with the highest level of security rating adopted by the first financial sector, the international Common Evaluation Criteria (CC) EAL5+, to the cryptocurrency system.
Based on this differentiated security technology, Inblock is actively contributing to the creation of a sound blockchain ecosystem by developing various digital asset-related services such as its own coin issuance platform ‘Issue Token’, a secure cryptocurrency wallet ‘Meta Wallet’, and a transparent blockchain transaction information recording system ‘Metascan’. Inblock’s continuous technological innovation and solid cooperation with IBM are expected to play an important role in not only increasing the security reliability of the digital asset market, but also promoting the widespread commercialization of blockchain technology.