Loon Network Announces Partnership with Davinci Project

Cryptocurrency Loan Processor Pairs with Digital Escrow Service
 
SINGAPORE - Feb. 2, 2022 - PRLog -- Singapore-based cryptocurrency loan broker the Loon Network announced today that it has signed a Memorandum of Understanding with digital asset transfer escrow service provider the Davinci Project to develop exclusive protocols for securing loans and NFT transfers within the Loon ecosystem.

The Memorandum was signed by Loon Network Chief Operations Officer Ms. Feng Mian and by Mr. Baxter Chu, Chief Executive Officer of the Davinci Project.

"Because smart contracts are irreversible, best business practices require an additional layer of verification because closing important deals. We at the Davinci Project are thrilled to work with the Loon Network to develop industry-first protocols to protect all parties to cryptocurrency loans and NFT transfers," Mr. Chu said.

"It's a rare opportunity for us to scale security and reliability while increasing efficiency," noted Ms. Feng. "The Davinci Project provides us with the services we need to prepare blockchain-secured lending for global market penetration."

Coincidentally with the two companies' announcement, the Chinese government announced on Monday that it is instructing 164 mainland entities - including local governments, universities, banks, hospitals and utility companies - to develop real-world pilot projects for the use of blockchain software and hardware technologies. The initiative is part of President Xi Jinping's announced drive to "seize the opportunities" presented by new industries.

Asked whether the Loon Network and Davinci Project took the Chinese project into account in their discussions, Ms. Feng responded that the future needs of mainland Chinese business and government units were an important part of long-term planning for both companies. When asked whether either company was negotiating to provide services directly to mainland Chinese entities at this time, Ms. Feng declined to comment.

Learn more about the companies at:

https://www.loonetwork.com and https://www.davinciproject.net

Contact
Sheryl Goldberg
***@midpacificholdings.com
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Tags:Altcoins
Industry:Loans
Location:Singapore - Singapore - Singapore
Subject:Partnerships
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