Seoul, South Korea /PRNewswire/ - BOScoin (www.boscoin.io, CEO Yezune Choi, Corporate Name: Blockchain OS), Korea's first blockchain project announced that it signed an agreement with the Society of Logistics Science and Technology (President Nochul Park) to conduct research on ways to utilize blockchain in logistics and distribution.
This research focuses on promoting the implementation of blockchain technology by discovering specific business models that demonstrate ways to utilize blockchain in the logistics and distribution industry in Korea as well as by putting forward ways to collaborate with existing logistics and distribution companies.
A researcher at the Society of Logistics Science and Technology said, "Few blockchain companies in the private sector both at home and abroad have collaborated with academia to conduct a research project to implement blockchain in the logistics and distribution industry. I hope this project will find ways to transform the logistics and distribution industry through new technologies such as blockchain."
In May, BOScoin forged a strategic alliance with Energy7 (http://www.energy7.kr, CEO Jaehyang Kim), an energy Fintech platform company, to transform petroleum distribution through blockchain. In particular, BOScoin plans to introduce a payment system based on its Trust Contract to enable transactions without involving a third-party intermediary. It also provided the definition of Public Financing (PF) in its Whitepaper 2.0 Part1 Overview and is seeking a project of Reverse ICO in the logistics and distribution industry.
The research is expected to help discover a public financing project that best fits BOScoin's mainnet and put forward an efficient business model of a close partnership with logistics and distribution companies.
Yezune Choi, CEO of BOScoin, said, "Efficient implementation of blockchain by logistics and distribution companies will simplify and automate the dealing process resulting in paperless transactions. The logistics and distribution is one of the industries that will achieve the highest efficiency by transforming its transaction structure through blockchain since it has a complex transaction structure involving multiple stakeholders at each stage."
Korea's first blockchain project, BOScoin, was launched by Blockchain OS through an ICO in May 2017. 500 million BOScoins were first released, and the ICO of BOScoin reached about 15.7 billion won hardcap within 9 minutes from the start. Approximately 60 billion won worth fundraising was completed within 17 hours. BOScoin opened its testnet source in June and prepares to open its mainnet based on its own technology.
BOScoin ultimately aims at turning into an investment bank based on a new type of finance brought about by its Public Financing (PF). Currently, it is seeking partners who pursue to build an innovative business model by grafting blockchain technology onto their industry on the BOScoin platform, pushing ahead with the creation of BOScoin ecosystem. It is expected to be listed on Coinbene (www.coinbene.com) in August.