BOScoin which is Korea’s first ICO project that successfully completed its first community vote on the main net, released the whereabouts of their second community vote today.
The objective of the second vote was to decide if BOScoin’s community will sanction the issue of one billion Korean Wonworth of BOScoins to be exchanged with 100 million PESS tokens issued by PayExpess, which is a BOScoin partner company. It has been decided that PESS amount going to BOScoin would be burnt. The newly released BOScoins will supplement its bid to innovate itself as a global logistics power in the form of a business reinforcement for PayExpress.
If the vote gets approved, it will be possible to use BOScoins in real-life global logistics industry as a mode of payment in exchange and distribution of goods. BOSPrime, an e-commerce website that takes in cryptocurrency as payment, will make products available in both domestic and foreign markets. BOScoin and PayExpress collaborated to release BOSPrime.
The conditions for eligibility of vote include passing the Know Your Customer (KYC) certification. Also, you need to hold and freeze 10,000 BOScoins to be eligible for the voting process. Freezing BOScoins is just like having savings in banks. BOScoins should be available in the personal wallets of participants.
BOScoin co-founder and CEO Yezune Choi explained the intention of this vote by saying,
“Through this vote, BOScoin and PayExpress are pursuing innovation in the conventional logistics chain. This will be the first case of applying advanced blockchain technology to existing real world economy and users will benefit more in effect than the conventional way.”
PayExpress CEO Jaehyang Kim said,
“Starting with the trade of Senegal’s cutlass fish, we will participate in Korea’s imported seafood market armed with price competitiveness of overseas fish.”
“We are going to raise awareness in the local supply chain sector about the BOScoin ecosystem and expand cases where we can introduce the use of cryptocurrency in the real world economy.”
Meanwhile, O2&B CEO Seunghyun Ban remarked,
“We have been supplying purified water to Senegal for a few years through O2&B’s water purification technology business. Based on the local recognition of our work, we have gained a deep understanding and mutual trust in Senegal, which led to the beginning of this trade. We will do our best and work closely with the Senegalese government to secure a stable supply of fish for e-commerce at BOSPrime.”
BOScoin is prepared to give specialized assistance for those dependent on blockchain innovation and closely link its ecosystem to the recent addition, Queenbee Company. PayExpress will offer the essential set of budgetary administrations which includes advance administrations, blockchain-based payment administration, worldwide cash administrations, and mileage frameworks.