[Featured Stock] Bitnine, Metaverse Prodigy... Technology 10 Times Faster Than Global No.1 Company

[Asia Economy Reporter Hyunseok Yoo] Bitnine is soaring. This is interpreted as a result of increased attention to the metaverse, drawing focus to Bitnine's technological capabilities.

As of 10:32 AM on the 29th, Bitnine was trading at 14,750 KRW, up 21.90% (2,650 KRW) compared to the previous trading day.

Bitnine is engaged in research and development of graph database (Graph Database, hereafter GDB) technology, which is utilized as a core technology in the 4th industrial market including the metaverse, artificial intelligence (AI), big data, and blockchain. Bitnine developed the world's first hybrid database management system (DBMS) that combines relational database (RDB) and GDB. It is the only company in Korea possessing graph DBMS technology. Its GDB product, 'AgensGraph,' is the most widely commercialized GDB among public institutions, large corporations, and financial institutions primarily in Korea. It also has various use cases overseas with companies such as Intel and Verizon.

Kang Cheolsun, CEO of Bitnine, stated at the initial public offering (IPO) briefing, "Through listing, we will widely promote GDB technology, which is an important technology in the 4th industrial era, and focus the raised funds on research and development to advance toward becoming a global DB company."

Bitnine's technological capabilities are expected to be usefully applied in line with the growth potential of the metaverse market. With the advancement of information and communication technology (ICT), the importance of processing and analyzing large-scale data is increasing, and stable growth is anticipated.

Park Jongseon, a researcher at Eugene Investment & Securities, explained, "It will continue to grow along with the development of the data industry," adding, "It has proven technology at least 10 times faster than the global No. 1 company."

He continued, "Based on its technological capabilities, it holds various global references including domestic companies such as Samsung SDI and SK Hynix, as well as Intel, Ericsson, and the Canadian Department of National Defence," and added, "It is incubated in the Apache project, the world's largest open-source foundation, and plans to release a commercial version (Apache AGE) in April 2022."

This content was produced with the assistance of AI translation services.