Jonghyup Kim, CEO of PARAMETA, Receives the Minister of Science and ICT Award at 2023 BlockChain GrandWeek

[Jonghyup Kim, CEO of PARAMETA, Receiving the Minister of Science and ICT Award (right)]

 

November 16, 2023 – ‘Web3 Enabler’ PARAMETA Corp. (formerly ICONLOOP, CEO Jonghyup Kim) announced today that Jonghyup Kim, CEO of PARAMETA, has been selected as a recipient of the 2023 Blockchain Achievement Award and received the Ministerial Commendation from the Ministry of Science and ICT (MSIT).

As the head of Korea's leading blockchain technology company, PARAMETA, Jonghyup Kim received the award in recognition of his contributions to realizing innovation by applying unique blockchain technology to various industries. In particular, he was praised for his success in creating a clear differentiation from the majority of blockchain companies that utilize overseas open source by introducing 'loopchain', a blockchain core platform for public and enterprise use, through years of proprietary technology development, and for driving innovation by applying it to various industries such as public, finance, distribution, authentication, and healthcare with several successful use cases.

The awards ceremony was held today at the 2023 BlockChain GrandWeek, held at COEX in Gangnam-gu, Seoul. Held under the theme of 'Blockchain adds trust to digital platforms', PARAMETA participated in the event by operating a promotional booth to introduce its battery life certification service business with PMGROW and its high-performance blockchain framework, Parameta Framework.

Earlier, PARAMETA was selected as the lead business operator of the 'Battery Residual Life Certification Service' project among the 'Blockchain Private Sector Focus Project in 2023' promoted by MSIT and the Korea Internet & Security Agency (KISA) to revitalize the blockchain industry and formed a consortium with participating company PMGROW to jointly develop the service. At this event, we focused on the service, which will provide practical value by creating a user-centered and transparent battery data distribution ecosystem through blockchain technology.

Parameta Framework, the optimal platform for Web3 Transformation, was also highlighted. Parameta Framework is a full package blockchain toolkit that enables full development from Layer 0 to Layer 4 (L0~L4) and supports groundbreaking transaction (TX) processing speed based on PARAMETA's Hyper Performance Blockchain core 'loopchain', which already supports up to 20,000 TPS performance and is under development to realize up to 100,000 TPS. As a result, it is expected to be utilized for real-time transactions such as STOs by overcoming the limitations in industrial applications due to processing speed.

"We are pleased that our continuous efforts to contribute to the development of the blockchain industry and the delivery of practical value by securing differentiated technology have led to good results," said Jonghyup Kim, CEO of PARAMETA. "As a member of a healthy blockchain ecosystem, we will continue to do our best to help everyone experience the value of technology in their daily lives through practical use cases."

Meanwhile, the BlockChain GrandWeek, hosted by MSIT and organized by KISA, the Korea Information and Communications Industry Promotion Agency, and the Information and Communications Planning and Evaluation Institute, has been held annually since 2018 to raise public awareness of blockchain and revitalize the ecosystem.