DAWINKS enters world market with UK ICOC
DAWINKS enters world market with UK ICOC
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  • 승인 2021.01.29 11:10
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Blockchain digital fintech firm DAWINKS Co., Ltd. (CEO: Lee, Jong-myung) signed a strategic business partnership (MOA) with the ICOC (CEO: Stanley Segal, International Casino Olympic Committee, International Brains Sports Tournament), which was established in the UK. Considering the COVID-19 pandemic, the two companies held an agreement signing ceremony at the ICOC Korean office instead of the UK headquarters.

The ICOC plans to establish branches of the International Brains Sports Tournament Association in a total of 25 countries, including India, Japan, the United States, Taiwan, and Malaysia, and hold international competitions every October. The Association will host international competitions in 10 sports such as Go, Chess, Korean chess, Bridge, Mahjong, Hold'em, Billiards, and Screen Golf, and for this purpose, it is preparing an online and offline competition that selects national players from around the world every month.

"DAWIN's proven technology is a blockchain and fintech convergence technology that will be fully recognized even in advanced countries," said ICOC Stanley Segal, founder. "Compared to existing institutional financial institutions, it enables worldwide overseas remittance and foreign currency exchange more efficiently and inexpensively. In particular, it is expected that DAWIN's innovative digital finance can be supplied and used in countries underprivileged in fintech such as Africa, Latin America, and Southeast Asia, where the financial environment is relatively poor. As DAWIN's partner, we will work together to supply the global market for blockchain digital finance."

Ha, Kyung Hwa, chairman of the ICOC Korea Steering Committee, said, "DAWIN's ID cards, passport forgery detection, and adult authentication-related technologies enable ID verification and adult authentication and are used by the UK's ICOC International Organization to issue IDs at International Brains Sports Tournament to all participants in the national selection. Mobile and card-type membership cards (membership cards) can be issued to members. I appreciate DAWIN's decision to support us with the related technologies, and sure DAWIN's blockchain fintech convergence technology will play a very important role in the growth of the International Brains Sports Tournament."

DAWINKS develops and supplies untact DIGITAL ATM (brand name: DTM/Digital crypto Teller Machine) and POS (QR Pay) that are capable of the world's first KYC and AML functions by interlocking with the DPEC (Digital Payment Exchange Currency) platform developed based on blockchain fintech for payment, settlement, remittance, exchange, and charging of digital (crypto) money.

As of the 27th, 14,554 Bitcoin ATMs are in operation in 71 countries. Among them, 12,225 units are operated in most 50 states of the U.S. The U.S. and Europe, including 1,155 in Canada, 242 in the UK, 147 in Austria, and 118 in Spain, are operating more than 95% of them, and the remaining 5% are in operation in Asia and the Middle East. Korea is currently 0 unit. ATM, which had been operated mainly in the U.S., was carried out as a two-way (deposit and withdrawal) service for anonymous transactions, which is the basic concept of Bitcoin. There was no need for identification devices to implement KYC (Know Your Customer/ID authentication) functions. However, with the recommendation of the US FATF (Money Laundering Prevention Organization), a related law is being legislated to mandates KYC and AML (Anti Money Laundering) functions for future cryptocurrency transactions, especially in G20 countries. Korea will also enter into force the Act on Special Law for Cryptocurrency Asset Operators (Exchange) on March 25.

DAWINKS has developed ID cards, passport forgery detection, and adult authentication-related technologies over the past 16 years and is recognized for its technology by combo scanner currently being used in about 650 places such as airports, duty-free shops, government agencies, casinos, and currency exchange dealers. In the past three years, it has developed a platform for payment, settlement, remittance, currency exchange, and charging based on blockchain to complete ATMs and POSs that will implement digital (crypto) financial services. It should be noted that during the development of ATM and POS, the company predicted the future of cryptocurrency transactions and fused and solutionized scanners and programs with KYC and AML functions. Moreover, it developed AI facial recognition function last year, added it to existing KYC engines, and implemented an advanced KYC function.

The combination of digital ATMs, POS technologies, ID card and passport scanner has also led to inquiries from overseas markets such as the U.S., the Philippines, Vietnam, CIS, Cambodia, India and Nicaragua. In particular, in March of last year, the company learned that the financial service environment of most countries in Latin America, such as Honduras, Guatemala, Panama, Chile, and other countries, is poor, so the penetration of public accounts and credit cards is low, and the spread of ATMs is low when it signed a supply contract for the supply of digital ATM and ERP solutions with CARUNA R.L., a government financial institution in Nicaragua. Payments and settlements at all small business stores are in cash, and the introduction of untact digital financial services is desperately needed due to the addition of the COVID-19 pandemic. In a meeting with a local company, the company confirmed the possibility of developing and supplying new ATMs based on blockchain that can also use electronic money along with DIGITAL ATM export.

Meanwhile, DAWINKS acquired 5 related patent registrations to supply blockchain-based digital (CRYPTO) ATM and POS to the domestic market and an official letter from the Ministry of Science and ICT(MSIT), which consolidated the opinions of the Ministry of Justice, Ministry of Strategy and Finance, and the Financial Services Commission through an application for quick confirmation of the ICT regulation sandbox, and secured a legal position for the start of the business last year.

Government to raise digital finance competitiveness!

It is making various efforts to pave the way for growth of fintech industries.

Attention to the small but strong moves of DAWINKS devoted to developing and supplying fintech digital financial services based on blockchain.

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