On April 19th, ‘Team X’ hosted a kick-off event at Decentre, a public relations agency, located in Bongeunsa-ro, Gangnam-gu, where they shared the vision and notable features of their respective projects. Despite gloomy conditions in the crypto market, many leading industry experts and investors participated in the event with great enthusiasm and interest.

‘Team X’ is a blockchain alliance established by five startups that are part of Korea Blockchain Start-up Association. The group is comprised of GiftLand, SymVerse, Quiz Tok, Calorie Coin and MP Coin.

Shin Kyung-young, the chairman of the Korean Blockchain Start-up Association (CEO of GiftLand), said, “As the price of Bitcoin finally gained some stability after two years of tumultuous decline, developments surrounding blockchain platforms and dApps have finally started to pick up the pace.” He added, “to make a concerted effort to provide real value and drive adoption in blockchain ecosystem, we created TeamX as a way to gain competitive edge by expanding our user base.”

Soohyuk Choi, CEO of SymVerse, describes the self-sovereign method of identity verification on the SymVerse blockchain.

He explained, “SymVerse platform provides a decentralized ID system that can conveniently store ID and relevant information to a designated wallet and transfer funds when needed.” He added, “This can solve many problems inherent in the current blockchain.”

Moreover, SymVerse ID management allows users to fully control and manage their own data on their personal wallet at any given time, regardless of external circumstances.

Choi pointed out the distinct advantages of SymVerse blockchain by saying, “Where Ethereum 2.0 may be vulnerable to manipulation in a proof-of-stake network, SymVerse blockchain has an algorithm that is free from such attacks, with twice the speed.”

In addition, the consensus mechanism behind SymVerse platform has allowed for swift consensus process, as well as increased security that blocks malicious nodes and bad actors from participating on the network. This is made possible because SymVerse implements key insights drawn from various disciplines, ranging from Game Theory to Network Design.

Currently, SymVerse has been working closely with Tongin Express, famously known for being the oldest home moving service provider in South Korea, to develop blockchain-integrated smart home solutions. SymVerse is also is looking to expand its operations, calling it ‘SymVerse Global Project,’ to regions including the US, Middle East, Thailand and Indonesia.

SymVerse is preparing to launch its first IEO by May, ahead of its mainnet launch planned in Q2 later this year.

Reference: CCTV뉴스 조중환 기자 http://bitly.kr/nA8Ft0

To learn more about SymVerse, please visit our official links down below:

Official Site: https://www.symverse.com/ 
Telegram (ENG): https://t.me/SymVerse 
KakaoTalk (KOR): https://open.kakao.com/o/ggsgzhab (password:0110) Medium: https://medium.com/symverse 
Steemit (KOR): https://steemit.com/@symverse 
Facebook (KOR): https://www.facebook.com/symverse 
Twitter: https://www.twitter.com/symverse 
Youtube: https://www.youtube.com/channel/UCB8hrWAeXmHIdN5u3zv-brA