Davies was created as a fork of Litecoin. We have decided to do a fork of Litecoin since it is a very versatile currency having as its main features a high speed of transaction combined with high safety.
We have not wanted to add the feature of Privaty Send since we want the currency to be used or money laundering or to buy illegal products. In other words, we want to be very transparent with the rest of the world in such a way that if there is a fraudulent act, transactions could be traced.
We will show the technical characteristics of the cryptocurrency later, but I want to talk about the project itself firstly.
In line with the birth of Davies the Daviescoin IT OÜ society, a company that is based in Estonia. Its founder Daniel García will lead the company with the help of different trusted partners (Spanish companies) which will be the ones that will run the software development of the project, marketing, communication, etc. (We will mention them later).
What will be the function of the company Daviescoin IT OÜ and Davies?
The function that we want to give to this coin is to create a company and people network who work with Davies endowing the currency with real applications, not just merely speculative, to extend the currency around the world, and what better way to support it than with the creation of the first company that will use and promote Davies, Daviescoin IT OÜ.
The company Daviescoin IT OÜ must meet several objectives, one of them will be to show to new entrepreneurs that companies using this cryptocurrency as a base can be constructed. Daviescoin IT OÜ will filter out different projects in any area and if it considers that they are innovative and high potential projects, Daviescoin IT OÜ will finance them.
On the other hand, another objective of this year and part of the next will be to launch an App for Android and IOS that will have the wallet function for Davies and two extras features, DaviesLoan and DaviesPay. Many of you will be wondering that what DaviesLoan and DaviesPay are, so let's make a brief introduction and then you can see many more details.
DaviesPay will be a payment module that will allow us from the app to buy coins by credit card and sell them receiving the amount in the user's bank account. This module will be available on our website and we will also enable a public API so that others can integrate it into their apps or other websites. In addition, as soon as the currency is quoting, and we have the module DaviesPay finished, we will integrate the currency with Tickebit and therefore the currency could be bought in Spain even with cash in more than 5000 points.
We also want to emphasize that DaviesPay is a required module to be able to develop a subsequent DaviesLoan, a system that will also be integrated into the Davies app in order to make loans between individuals, which will be able to fix their interests and even sign a contract with a legal electronic signature in any part of the world thanks to the homologation obtained by DocuSign.
As you see, we want to give much more importance to the use of the currency than to its characteristics.
Ultimately our ultimate goal is to decentralize the banking sector by converting each of the world’s person into their own bank, being able to transfer money in Davies format, create loans and buy and sell Davies for other currencies according to the needs of each user, for which we have already closed an agreement with TransferWise although we will continue to open trade agreements even with physical exchange houses to be able to reach any country in the world.