- Payexpress, Korea Cashback, FORBIZ KOREA and Nature Mobility met with 380 institutional investors and community members on September 3, at the Plaza Hotel
SEOUL, South Korea, Sept. 4, 2018 /PRNewswire/ -- Korea's first blockchain project BOScoin (www.boscoin.io, CEO: Yezune Choi, Company name: BlockchainOS) held a BOScoin Partners Meetup at the Plaza Hotel on September 3 together with 4 partners selected through a "Reverse ICO Partner Program" which was launched last June. At the meetup, the companies presented their projects to 380 institutional investors and community members.
"Public Financing" which is executed on BOScoin's mainnet is a new way of financing in the blockchain era that addresses the high costs of using traditional project financing with 3 alternatives - credit creation through participation, global financing through collective intelligence and democratization of assets. With its testnet source code released into the public domain and its mainnet BOSNet launch just around the corner, BOScoin announced the Reverse ICO Partner Program with the goal of discovering and nurturing Reverse ICO companies to develop technology and execute financing projects on BOSNet together. From the selection process to review all qualified applicants, the first four partners were selected.
Each selected partner has successfully operated a business based on its own business model and turned to BOScoin for additional funding through blockchain-based ICOs or public financing instead of choosing a conventional financial institution.
The partners selected this time are as follows:
- Payexpress - It is a project driven by Energy Seven Ltd., which has participated in the 100 trillion won energy logistics market since 2015. It provides a platform for blockchain-based payment, lending, and mileage awards. Through cooperation with BOScoin and other companies in the blockchain space, it aims to address problems such as payment processing fees, payment amount, payment cycle, and lack of mileage rewards for consumers.
- Korea Cashback - It is a project to provide useful information to travelers using location-based services (LBS). Working together with BOScoin, it will help introducing personal identity authentication technology based on distribution networks to meet privacy protection regulations, the GDPR in particular, that are becoming increasingly tougher around the world. Woti is a platform to provide free independent travelers with information about travel destination and available merchants nearby through a mobile app. Users can receive rewards by participating in the games and quizzes within the app and enjoy deals and discounts for admissions, accommodations and restaurants at their domestic and international travel destinations.
- FORBIZ KOREA is an e-commerce solution provider for small and medium-sized enterprises (SMEs). Through its global e-commerce platform service Relaket (www.relaket.com), the company plans to help SMEs easily connect to overseas markets including Amazon, Lazada, shopee, and Zilingo and help small and medium-sized brands 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.
- Nature Mobility -- It is a project to address issues caused by the information asymmetry while buying a new car, renting, sharing, and selling a used vehicle. It aims to innovate the auto sales and ride-sharing industries based on BOScoin's technical prowess. In the monopolized rental car market by large corporations, Nature Mobility aid the creation of a "Bundling" platform service that allows customers to try out various car models with pooled effort of small and medium-sized rental car services and local merchants. Jeju Island will be the launch pad for such service with additional locations like Guam and Okinawa in the pipeline.
"We have selected the first four projects to run public financing campaigns on BOScoin's mainnet," said BOScoin CEO Yezune Choi. "All four companies have successfully operated their businesses with their own business models and chosen BOScoin to raise additional funds. I believe this meet up will become a foundation for the four projects to earn trust from the communities and carry out successful ICOs."
Korea's first blockchain project, BOScoin, was launched by BlockchainOS through an ICO in May 2017. Five hundred million BOScoins were initially offered during the ICO, BOScoin reached 13.7 million dollar (USD) hardcap within 9 minutes from the start. 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.