First of all, we would like to thank each and everyone of you for your trust, support, and faith in our company and project.
We value our community highly and know that we are stronger together.
Now the dust has begun to settle following our ICO, we think the time has come to give you a solid update and be as transparent as possible about our product development, the token, exchange listings, and our medium- and long-term goals.
As with every great journey, new obstacles and challenges appear every day. We have presented our initial roadmap in the whitepaper, but this will need some adjustments in terms of the timelines, due to the final result of the raise.
The raise was less than we anticipated, so we cannot do everything at the same time; we need to refocus in order to be successful. Therefore, some of our objectives will take longer to accomplish.
But we do have a plan and are able to present our next steps towards our final goals. We are able to start developing the Smart Layer and the basic fundamentals of the technology. We can work on the development of the tools that are required in a decentralized Metaverse to create a secure private, self-sovereign, and quantum-safe environment for consumers, brands, and enterprises.
We have outlined the products that are currently under development in the diagram below. The products marked in blue are the first ones we will bring to market.
1. Home & Office Metaverse Suite with data and communication tools
2. Blockchain Development
As well as consumer & enterprise solutions, DigiCorp will invest in the development of blockchain layer-1 and layer-2 solutions. This will help us ensure that our solutions, wallet, and the underlying technology is stable, secure, and interoperable with solidity-based smart contracts, and can interact with different protocols to exchange information and digital assets in a secure, private, and trustless manner.
Our developers will continue to work on the DigiByte blockchain core protocol and our marketing will promote DigiByte technology in the corporate world.
DigiByte technology is a crucial pillar for a decentralized Metaverse and it is our belief that DGB is the currency of the Metaverse, where DGMV is the utility token in the DigiMetaverse.
We are also working on educational content for several platforms, on which developers and decentralized communities can contribute, learn, and share information.
Let’s take a closer look at the product we will be delivering first: the Identity Suite.
Any online environment, solution, or application always starts with identifying yourself. We all know that our personal data isn’t always safe, and is often used for monetization purposes. Put simply, we have become a product.
This needs to be changed. We need to be able to enter any environment or application in the most secure way, without sharing any additional data that isn’t required. As soon as we’re in a specific online environment, we should be in full control and able to decide whatever information we want to share - and with whom.
To enable this, DigiCorp is developing an identity suite with products and tools. We will use trustless infrastructures like blockchain technology and a decentralized quantum-safe grid to ensure further transparency and security by eliminating the middleman and eradicating dependency on third-party security measures and authorities.
This is a secure authenticator, using blockchain wallet technology to enter websites or applications. It can even be used for access control.
DigiCorp’s trailblazing Secure Authenticator uses DigiByte’s Digi-ID blockchain wallet technology. DGMV secure authenticator ensures that all risks and inconveniences that are present in current solutions can be avoided.
The secure authenticator automatically creates and stores very complicated passwords, so there is no need for you to remember them. It creates a different password string for every different platform, meaning that if a system is compromised, the obtained data (username & password) are worthless to a hacker.
Without your physical device containing the authenticator app, nobody can access your account on any platform.
By using DGMV secure authenticator, companies and consumers can be assured that:
DGMV Password is a ‘passwordless’ password manager that uses the DGMV Secure Authenticator (see description above) together with a desktop browser extension to manage and autofill username, passwords, and 2FA on existing websites.
It solves all the problems that we have with passwords and existing password managers today.
Challenges with passwords in general:
What most people still do today:
Because of these challenges, most people create passwords that are either:
a) Too simple
b) Easy to guess
Or they use the same username & password for different sites.
The risk of doing this is that if a site is compromised because of a lack of security, usernames and passwords can be obtained and traded on the dark web. Hackers will then try to use these usernames and passwords on different platforms to get access to your personal accounts.
Current password managers:
There are several password managers that automatically create different passwords so you don’t need to remember them. The problem with these programs is that you still need to create and remember a password to access the password manager itself. If a hacker gained access to the password manager, they would then have access to all your passwords for all your accounts. This means that there is still a risk of one single password getting into the hands of a bad actor.
These password managers also use centralized systems to store your passwords and personal data, and are therefore single points of risk and failure in themselves.
Thirdly, the user experience for many of these programs leaves a lot to be desired.
On the roadmap (H2/2022-2023): A self-sovereign, validated and verifiable identity, integrated within the wallet. A digital identity you own and manage yourself.
On the roadmap (H2/2022-2023): An interoperable Metaverse wallet that will contain the secure authenticator, self-sovereign identity, credentials, and attributes you own and manage, with data that can be shared based on ZKP (Zero-Knowledge Proof).
The following products from the Home & Office Suite will be offered to corporate enterprises first, shortly after the launch of our secure authenticator (H2/2022-H1/2023).
These products will be built on the Threefold grid and include Threefold technology.
DGMV is a true utility token by design, based on the ERC-20 standard and issued on the Ethereum mainnet. The DGMV token is one of the first to be fully compliant with one of the best legal frameworks for cryptocurrencies in the world: The Liechtenstein Blockchain Act.
DGMV unlocks access to a portfolio of enterprise and consumer services and intellectual property in the DigiCorp Metaverse, and will be used as gas in our DGMV Smart Layer.
The circulating supply and initial market cap is low. Only 14% of the tokens were offered for sale, and 33% of the offering was sold, translating to 4.6% of the total supply. Leaving a majority 95.4% in the possession of DigiCorp. Per our legal opinion letter, DGMV is a utility token, not a security. Therefore, DigiCorp is not allowed to offer staking, airdrops, or burn tokens.
The private and public sale was valued at the equivalent of 7.5 million USD. The majority of our assets are held in fiat and stablecoins, so the impact by volatile markets has been kept to a minimum.
Our tokenomics is designed to complement our long-term vision and stimulate real token utility. Those who have invested in our project, believe in what we’re doing and recognize the long-term value. We believe that there will be many future benefits.
We have heard many of the community ask for more listings. More exchange listings are not always beneficial for a project, particularly in the case of CEX listings. Listing fees vary wildly, and can be up to almost 1M USD.
Most of the time, we then also need to take care of liquidity and market making ourselves.
This all requires quite a lot of financial outlay that could better be used for our business, operations, and product development. We think it is best to focus on our business and products and being recognized by tier-1 exchanges, which will list DGMV without charging exorbitant fees, and will be able to provide solid liquidity themselves.
We also are aware of low trading volumes, but this will grow over time as we prove to be successful. Nevertheless, we have decided to go for a cost-effective option for retail investors by creating a bridge to Binance Smart Chain. We will be opening a pool on Pancake Swap very soon.
The current developments in the world and the global economy aren’t helping the rather poor overall market conditions, but we are confident that these will resolve eventually.
It is important to understand that DigiCorp Labs is in this for the long run. We are one of the first projects with the ability to connect blockchain and crypto to the commercial enterprise world. We want to create a better and more secure online environment; one that is available to everyone in the world.
The world will become more immersive, and the Metaverse requires trustless technologies. DigiCorp recognizes that there is a paradigm shift to decentralized technologies and is at the forefront of offering alternatives to those who want to have a choice and be in control of their own identity and data.
We are convinced that we’re in the right place at the right time.
Due to our focus on corporate enterprise, we are not always able to go into detail about what we have been doing or what we have accomplished, but if we are able to announce partnerships or Proof-of-Concept, we will definitely do so.
We are trailblazers: we’re not doing this because it’s easy, but because it’s needed.
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