Sector: Blockchain Awards
Aplicación: Large Corp
Empresa: Metaco
Metaco was founded in 2015 in Switzerland and is a blockchain technology company whose mission is to enable financial and non-financial institutions to securely build their digital asset operations. Harmonize™, Metaco’s main product, is a platform that, apart from custody, allows the orchestration of the necessary processes for the secure handling of digital asset operations. From the custody of any type of asset, to tokenization, staking and smart contract management, the platform seamlessly connects institutions with the broad universe of decentralized finance and Web3 decentralized applications. Metaco has established itself as the institutional standard for digital asset infrastructure, trusted by both global custodians and banks, regulated exchanges, and large corporations worldwide.
Its technological solution enables institutions to store, buy, sell, issue and manage any type of digital asset such as cryptocurrencies, digital currencies, digital securities or non-fungible tokens (NFTs), with the highest possible security and agility. Today 6 of the top 10 global custodians work with Metaco on strategic technology projects. In addition, Metaco has entered the world of other innovative corporations in the Blockchain world such as Togg. Togg is an electric vehicle manufacturer with headquarters in Türkiye and a provider of global mobility technology ecosystems.
IDENTIFIED PROBLEM AND PROPOSED SOLUTION
Togg’s goal has been to become “a global provider of USE CASE – MOBILITY®” and has chosen Blockchain technology to achieve its goal. Togg Mobility Ecosystem, based on the Togg Blockchain platform, emerges as a solution to address the challenges around urban mobility and lead the future, where mobility services merge with smart technologies to make the user enjoy a frictionless journey. The Togg Blockchain platform is being developed as an innovative Mobility-as-a-Service (MaaS) platform. Built on top of Avalanche’s C-Chain, this solution allows users to exchange data across the ecosystem in a secure and eco-friendly way.
Togg enables users of its mobility ecosystem to benefit from a range of innovative use cases backed by smart contracts, including tokenization of mobility services, CO2 footprint assessment and NFT ownership (art, collectibles, etc.), included in the in-car digital asset wallet. Metaco’s digital asset custody and orchestration platform, Harmonize™, which has already been tested and implemented in many financial institutions, provides Togg with the ability to manage secure custody and governance of digital assets for treasury management, as well as an easy-to-use wallet solution for end users. In addition, Harmonize provides a versatile smart contract management framework for the Togg ecosystem, providing comprehensive lifecycle management of digital assets and full service asset support, including minting, burning, storage and transfer of NFTs.
DIFFERENTIAL VALUES
- Security: A security model (tested by T1-grade financial institutions) with the highest security rating in the market to protect digital assets.
- Future-proof: A unique platform that creates a fully integrated and unified foundation to connect, unify, secure, and manage all transactions and operations of digital assets.
- Use case and asset independent: A comprehensive smart contract management framework enables Togg to convert any type of asset into digital tokens. The versatility of the platform allows Togg to implement multiple use cases, from minting, burning, custody of NFTs, to treasury and corporate payments, and registration of key ecosystem data on the Blockchain. It also allows to integrate these use cases with other third-party systems and ecosystem participants.
- Versatile governance: Fully customizable risk and compliance controls allow Togg to own its policies while eliminating compromise points.
- Fast and cost-effective deployment: By using the platform from a service (SaaS), through a public cloud, Togg was able to launch to market quickly, in 4 months, without the overhead of managing software or hardware on-premises.
SUCCESS INDICATORS
- Number of people affected by the initiative: Togg aims to produce 20k smart devices in the first year and 100k NFTs related in this ecosystem.
- Number of institutions affected by the initiative: Institutions include Metaco, IBM, GFT, 2ART Company, Veridise, Amani, Chainanalysis, Avalabs
- Economic impact it has had so far on countries, cities, municipalities, professional groups, or companies. Togg has raised so far 10 million euros worth of AVAX in an auction. In the long term, they want to reach 100 Mio EUR that flow into this ecosystem.
IMPACT ON SUSTAINABILITY
- Tokenization of mobility services, assessment of CO2 footprint.
- Next-generation smart electric vehicles (‘Smart Device’) and surrounding mobility ecosystem, for which the company also develops new technologies, services, customer experiences and business models.
- Monitoring of CO2 footprint – Blockchain.
TECHNOLOGIES USED
- Blockchain, C-chain of Avalanche.
- Key management cryptography (multipartite computing and secure hardware modules).
- IBM confidential computing.
- Public clouds Azure and IBM.
- RestAPIs, SDK and Postman collections.
- Custom front-ends by GFT Technologies.
- Smart contracts.
- Electric vehicles.