MaxinAI becomes the first AI company in Eastern Europe to announce a transition to Blockchain
Tbilisi, Georgia–(Newsfile Corp. – Oct 26, 2022) – Maxin AI, one of Eastern Europe’s leading AI companies, has become the first in the region to move to blockchain. They are now focused on providing development services for web3 products including DeFi, dApps, crypto marketplaces and smart contracts.
CEO David Khosroshvili says the switch became inevitable when MaxinAI realized that web3 and its underlying blockchain technologies are quickly becoming the new iteration of the internet. AI engineers have exactly the kind of mathematical skills required to build and innovate hyper-secure smart contracts and other web3 products.
The Artificial Intelligence Industry has long been a lucrative export for Eastern Europe. Their ability to offer talent at lower costs has made them a popular outsourcing choice for American and Western European companies. There are currently over 400 AI companies in the region with a combined market capitalization of over $50 billion.
MaxinAI was founded in 2017 by Ioseb Khutshishvili, David Khosroshvili, Giorgi Jvaridze and Levan Tsinadze. Based in Tbilisi, Georgia, it is composed of an 80-person full-time team. As an AI company, it delivered over 100 international projects, including Warehouse and Logistics for Gaea, and Insurance Analytics for ClimateX. Specializing in advanced solutions for small and medium-sized businesses, they helped businesses automate label extraction, expedite insurance claims and improve livestock tracking.
They piloted the transition to blockchain in September 2021. Their first project involved a state-of-the-art smart contract with an account freeze function and an automated coin burn.
Since then, they have delivered over 30 robust smart contracts. Their most notable innovations include their work for the Digital Landowners Society, the largest community of metaverse landowners. This involved leveraging the Chainlink oracle to build a revealing randomization algorithm on the Polygon chain for NFTs minted on the Ethereum mainnet.
In addition to ensuring that their smart contracts are hyper-secure, MaxinAI has focused on distinguishing two distinct USPs. First, they are extremely fast – using AI-informed techniques to build top-quality smart contracts in under a week. Second, by being based in Georgia, a country with prominent IT tax rates, they are able to offer significantly cheaper prices than other Eastern European blockchain development companies.
“We strive to help businesses implement blockchain technology to automate processes and accelerate execution, while increasing transparency. We believe blockchain has the potential to transform several industries, and we are ready to contribute our expertise to the cause, says David.
The transition from AI to the blockchain was a gradual process. It began with the recruitment of new developers with top experience across different blockchain technology stacks, as well as the retraining of AI programmers through an in-house School of Blockchain course.
In a further effort to onboard a new wave of Eastern European blockchain developers and respect social responsibility, MaxinAI is launching the free educational course School of Solidity.
Company details:
Website: https://maxinai.com
Name: MaxinAI (David Khosroshvili)
Address: Ilia Chavchavadze Avenue 37m, Tbilisi
City: Tbilisi, 0179, Georgia
Email: [email protected]
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