Empowering Indigenous Sovereignty: Birri Gubba Nation Adopts MetaMUI CBDC Cloud Service

The Birri Gubba Nation, an Indigenous sovereign nation in Australia, has signed a Memorandum of Understanding (MOU) with Sovereign Wallet Co., Ltd., marking a significant advancement in their national digital financial infrastructure through the use of the MetaMUI CBDC Cloud Service.

Sovereign Wallet is a blockchain technology company that developed the MetaMUI blockchain, the first identity-based blockchain of its kind. By combining identity blockchain with token blockchain, MetaMUI provides an ideal solution for creating Central Bank Digital Currency (CBDC), a digitized version of national currency.

While over 80% of countries worldwide have shown interest in implementing CBDCs, many are struggling to develop custom-built solutions. Sovereign Wallet has pioneered the innovative approach by offering CBDC as a cloud service. In January 2022, the Yidindji Nation, an Indigenous sovereign nation in Australia, embraced this idea and became the first to utilize the MetaMUI CBDC Cloud Service.

After closely observing the success of the Sovereign Yidindji Dollar, an Australian dollar-pegged national currency of the Yidindji Nation, for about two and a half years, the Birri Gubba Nation decided to embark on its own journey with CBDC.

This initiative will enable the Birri Gubba Nation to establish a comprehensive national identity system, providing digital identities for all individuals, companies, and organizations within the nation. Managed through a Decentralized Identity (DID) system, these digital IDs will serve as both national identification and account addresses for the Central Bank Digital Currency (CBDC). Each individual will also receive a digital wallet linked to their digital ID, allowing them to store, manage, and use the CBDC. This ensures financial inclusion for everyone, including those without bank accounts, and is crucial for integrating the entire community into the digital economy.

Recently, Yidindji, Birri Gubba, and Sovereign Wallet signed a Memorandum of Understanding (MOU) to develop the Allodial Unity Digital Dollar (AUDD), a proposed common currency among Australian Indigenous nations. This initiative is akin to the Euro in the European Union. However, there are significant differences: the AUDD will be a fully digitized global common currency, with each nation retaining its sovereign currency simultaneously. The AUDD aims to become the first fully functioning cross-border payment system.

Glaree Banbure, Minister of Foreign Affairs & Trade representing the Birri Gubba Nation, stated, “The Birri Gubba National Identity and CBDC Initiative marks a monumental step towards economic empowerment and inclusion for Indigenous communities. This partnership underscores our commitment to leveraging digital innovation for sustainable growth and shared prosperity.”

Seokgu (Phantom) Yun, CEO of Sovereign Wallet Co., Ltd., added, “We are thrilled to extend our collaboration with Indigenous nations through this partnership with the Birri Gubba Nation. The implementation of MetaMUI’s CBDC Cloud Service will enhance financial services for the people of Birri Gubba, fostering economic resilience and inclusivity.”

The National Identity and CBDC systems for the Birri Gubba Nation are set to go live in September 2024. This initiative represents a significant leap towards economic sovereignty for Indigenous Nations, aligning with global efforts to create a more sustainable and inclusive financial ecosystem.

Sovereign Wallet is committed to delivering financial services to millions through its identity-based blockchain technology. The company's flagship product, MetaMUI, is revolutionizing the financial landscape by promoting self-sovereign finance and building a sustainable, inclusive economic model. Sovereign Wallet digitizes essential national infrastructure—from identity and credentials to financial transactions—eliminating paper usage and empowering individuals. MetaMUI's hybrid structure is perfect for global applications, including central banks, digital stock exchanges, and cross-border payments, reinforcing Sovereign Wallet's vision of an inclusive and sustainable economy.

The Birri Gubba Nation is a sovereign community in the mid-region of North Queensland, comprised of 20 clans linked through ancestral bloodlines. Rooted in rich cultural heritage and traditional Dreamtime stories, the Birri Gubba people maintain a deep connection to their land, which spans approximately 68,000 square miles, from the Haughton River to Charters Towers, following the Great Dividing Range southwest to Rockhampton, and north to Saint Lawrence. The nation is committed to preserving their environment and cultural practices while embracing modern technologies. Guided by respect, honour, and ancestral wisdom, the Birri Gubba Nation fosters unity, cultural preservation, and sustainable growth.

Country: International (Korea, Seoul)

Press Contact: Frances Kim

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