SEOUL, South Korea, Aug. 13, 2018 /PRNewswire/ -- Korea's first blockchain project BOScoin (www.boscoin.io, CEO: Yezune Choi, Company name: BlockchainOS, Inc.) announced today that it entered into an Memorandum of Understanding (MOU) with the middle-sized enterprises focused ecommerce platform solutions provider, Forbiz Korea (www.forbiz.co.kr, CEO: Hoon-shick Shin) to introduce blockchain technology to Relaket (www.relaket.com), a global ecommerce platform, and also provide funding through BOScoin's Public Financing service.
BOScoin has introduced the concept of 'Public Financing' in its White Paper 2.0 Part1 Overview and worked to discover small and medium-sized enterprises (SMEs) in the payment, ecommerce and logistics segments that the concept can be effectively applied.
Forbiz Korea is a provider of ecommerce solutions that guarantee high performance and scalability for SMEs with a manufacturing facility in the consumer goods sector such as KGC Ginseng Corporation and Daiso. Going beyond providing solutions, Forbiz Korea plans to help SMEs easily connect to overseas markets including Amazon, Lazada, shopee, and Zilingo through its SaaS global ecommerce platform service called 'Relaket.' The company will also allow small and medium-sized brands to work together with Korea's major open markets, online shopping malls and multi-brand shops so that they can successfully expand into a new market.
Relaket is a one-stop platform where influencers who endorse opinions about products online can select products they want to sell and process shipping, payment and settlement on a single platform. Currently, the service is offered in 4 different languages, and the company is in the process of making it to support up to 10 languages so that global influencers can easily sell "Hallyu (The Korean Wave: popular Korean culture)" products.
Working together with BOScoin, Forbiz Korea will apply blockchain technology to the Relaket platform to enable payment in cryptocurrencies as well as fiat money, automate shipping and settlement, and provide funding for mass production. It will provide an ecommerce platform with a new concept by making product information and distribution share available to the public transparently using blockchain in order to make monopolistic and oligopolistic sales work effectively.
"We are looking for projects in the payment, ecommerce and logistics areas to democratize assets and global financing with credit creation and collective intelligence enabled by participation through public financing," said BOScoin CEO Yezune Choi. "We entered into an MOU with Forbiz Korea, because it will be a great case to apply public financing to as the company is poised to expand its business to global platform service from ecommerce."
"Relaket is a platform designed to support SMEs in penetrating the global markets easily while driving stable revenue streams, and we plan to offer various services including global influencer intermediary service, V-commerce service, etc.," said Forbiz CEO Hoon-shick Shin. "We chose the new funding method, public financing, to run our service efficiently and transparently with blockchain technology by partnering with BOScoin."
Korea's first blockchain project BOScoin was launched by BlockchainOS in May 2017 through an initial coin offering (ICO). 5 million BOScoin were initially offered during the ICO and the project's hardcap of 13.7 million dollar (USD) was reached within 9 minutes of the start of the ICO. TestNet sources were partially revealed on GitHub in June 2018. The MainNet is being developed with BOScoin's own technology and is aiming to launch at the end of 2018. BOScoin is engaging in new partnerships to apply blockchain technology in key industry areas to innovate and expand its business model and actively build up the BOScoin ecosystem.