Cizion, Parameta form strategic partnership for data protocol

Cizion, a South Korean data-specialized startup, announced on Tuesday that it has entered into a strategic partnership with Parameta, a domestic IT venture company, to develop a Web 3 data protocol called "Perme."

Perme will be built on advanced blockchain technology, including decentralized identifier (DID) and personal data storage (PDS), and has been designed to ensure that users have complete ownership and trading rights of their data, including profiles and content.

Cizion plans to utilize Perme in its comment solution called "LiveRe" to create a Web3 data ecosystem that enables point-based user compensation. The new system will be designed to incentivize active participation and engagement from users.

Write to Jong-Woo Kim at jongwoo@hankyung.com