Davinci Coin is drawing interests as it is expected to be used in various areas such as cultural contents, assets, finance, and IoT (Internet of Things) as digital asset that is applied with AI (Artificial Intelligence) and Big Data. It is maintaining steady price trend even when collapse of Bitcoin price is having negative impact on entire cryptocurrency market.
Davinci Foundation, which issues Davinci Coins, was established by South Korean businesses, Chinese businesses, venture investment companies, and business associations. It has connected many business communities that are centralized through blockchain technology and it is pushing for Davinci Project that will maximize participation of experts and general people.
CEO Han Seung-jae of Digital Optics, which is a listed company of KOSDAQ, and CEO Go Jin-seok are participating as executives of Davinci Foundation. Significant number of Chinese personnel, who cannot be in the forefront due to strict regulations by Chinese Government, is also participating as hidden members of Davinci Foudation.
Davinci Foundation has incorporated various cultural businesses by establishing a department that is exclusively in charge of cultural contents and it invested into many popular Korean dramas.
It is also working on establishing a business model for UAE after it was invited by the prince of UAE and it is also having discussions with 3 African countries based on its recently-launched Mainnet.
UAE is accelerating plans for development of large-scale new cities and large-scale projects that have been postponed due to low oil price. It is also planning to expand its infrastructure business as it is scheduled to hold Dubai Expo in 2020. It is heard that UAE has huge interests in accommodating blockchain platforms for development of its oil business and import and export business and commercializing global financial models that are applied with cryptocurrencies.
Dubai Government once announced that it will carry out every transaction through blockchain network until 2020. Although UAE had worked on demonstration project of digital currency for payments and wire transfer with Saudi Arabia, it was not able to commercialize its project.
“While UAE was looking for perfect partners in South Korea and China, where exchange volume of cryptocurrencies is high and blockchain-related technologies are rich, it saw excellence in our Mainnet and possibilities of using our Mainnet for its digital asset business.” said Davinci Foundation. “We are currently negotiating with UAE after it called us many times for partnership.”
Staff Reporter Park, Jungeun | jepark@etnews.com