SEOUL, South Korea, Aug. 20, 2018 /PRNewswire/ -- Korea's first blockchain project BOScoin (www.boscoin.io, CEO: Yezune Choi, Company name: BlockchainOS, Inc.) announced today that it had entered into a Memorandum of Understanding (MOU) with Korea Cashback Inc. (CEO: Youngmin Kim) at the Seoul Center of Korea Tourism Organization, forming a strategic partnership with the company to develop a global travel platform (tentatively named "Woti").
BOScoin is planning to introduce the distributed-network-based Human Identity Authentication for Woti, a platform which provides useful information for travelers using LBS (location-based service), so as not to violate personal information protection acts that are strengthening worldwide, more specifically the GDPR (General Data Protection Regulation), Europe's personal information protection act.
Woti will be serviced via a mobile app, providing travel and commercial information that can be helpful for FITs (Free Independent Travelers). The platform will also allow users to play in-app games or solve quizzes and let them earn rewards, such as entrance tickets or discounts at hotels or restaurants, anywhere in the world. This truly global platform, where travel agencies and travel service providers can participate from around the world, is working to accelerate the launch of new services by developing partnership support programs.
BOScoin is currently developing "BOS-Net," a blockchain-based MainNet for public financing, and is striving to discover and nurture corporations that will run financing projects on BOS-Net through its "Reverse ICO Partner Program," announced during the June Community Meetup.
"We signed an MOU with Korea Cashback because we considered the company to be a suitable partner for us to expand the business into a global platform, with its outstanding know-how and achievements in the domestic travel industry," said BOScoin CEO, Yezune Choi. "We are going to hold a BOScoin Partner Community Meetup soon to showcase the partnerships and the progress we have made to date."
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.
About Korea Cashback
CEO Youngmin Kim joined Segye Tour Co., Ltd. in 2000 and since then has been engaged in the tourism industry. The know-how and various experiences accumulated throughout his career will be the basis for the project with BOScoin. Korea Cashback is gaining attention as a company that will contribute to the development of the tourism industry by virtue of being selected as the Preliminary Venture Business in Korea's tourism industry and receiving support via crowdfunding by Korea Tourism Organization (KTO). These were part of KTO's businesses launched in May 2018, aiming to nurture tourism venture companies which will create new values and synergies based on creativity, innovation, technology, etc. by cooperating with existing tourism companies.