“Some platforms are seeking to upload too many decentralized applications (DApps). This looks nice but can be very dangerous in terms of quality. BOScoin will help all partners enjoy profits jointly while focusing on ‘public financing’ in which financial portfolios are integrated into a single system.”

Speaking at the Reverse ICO Partners Meetup held at the Plaza Hotel in downtown Seoul Monday, BOScoin CEO Choi Yezune said, “We need to think about whether it’s efficient that businesses with different interests move up to a platform in droves.”

He reacted negatively to existing platform-style blockchains’ pursuit of becoming a platform for all DApps across every industry, saying, “This is too difficult a model to expand.” Choi said, “Most DApps terminate connections only after using platforms to issue tokens,” adding that “they can operate their respective economies even though they issue tokens individually and make DApps. But it would be difficult for them to link each other or seek expansionary services through their linkage and create synergy through efficient marketing.” His argument is that expansion is difficult to achieve unless a business consensus is reached at a single platform even if a merger with a blockchain is realized.

BOScoin has suggested its own alternative in such a way as to focus on one field, and that’s public financing (PF). BOScoin, Korea’s first blockchain project, believes that partners with same interests are able to enjoy diverse services in one platform if PF is used. Choi and his team think that a big platform will be created, paving the way for business opportunities, if one community brings business partners together. “We will generate a financial economy desired by many people and realize a virtuous circle of funds through PF. We will help partners with in-depth knowledge and expertise in one industry globalize their capabilities after coming across blockchains,” he said.

On Monday, BOScoin formed partnerships for PF with four partners _ PayExpress, Forbiz Korea, Korea Cashback and Nature Mobility _ which represent four industries (payment, e-commerce, travel and mobility). The Reverse ICO Partners Meetup is a partnership program between teams with conventional industrial abilities and BOScoin teams and is intended to trigger the maximum value when conventional industries are combined with blockchains. BOScoin provides funds and technology simultaneously to business models with growth potential. The four companies aim to cope with problems occurring in the real world through blockchains and show new values of which customers have known very little.

Asked why he chose BOScoin as a platform, CEO Kim Jae-hyang of Energy7, a subsidiary of PayExpress, said, “BOScoin has decentralized democracy solutions. We will offer a system in which blockchain-powered payment, lending and mileage accumulation are possible on the BOScoin platform.”

/Janice Yunji Kim Reporter yjk@decenter.kr

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yjk@decenter.kr