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SEOUL, South Korea, Feb. 22, 2019 /PRNewswire/ — BOScoin (CEO: Yezune Choi, Company name: BlockchainOS), Korea’s first ICO project that successfully held its first community vote on the mainnet, announced details of the second community vote today.
The agenda of the second vote is to decide whether BOScoin’s community will allow the issue of one billion Korean Won worth of BOScoins to swap with 100 million PESS tokens issued by PayExpess, a BOScoin partner company. The vote will last for one week starting at 1:00 pm on February 22 to 1:00 pm on February 28(KST).The PESS amount going to BOScoin will be burnt while the newly issued BOScoins will contribute in innovating global logistics as a business fund injection for PayExpress.
If the vote is approved, BOScoins can be used in real-life global logistics industry particularly as means of payment in the process of distribution and actual exchange of goods. Products will be made available in both domestic and foreign markets for purchase through BOSPrime, an e-commerce site that accepts cryptocurrency as payment. Both PESS tokens and BOScoins are being accepted. BOSPrime was launched through close cooperation between BOScoin and PayExpress.
The preconditions for participating in the vote are same as the first vote. Individuals, who passed the Know Your Customer (KYC) certification, need to both hold and freeze 10,000 BOScoins will be able to participate in this vote. Freezing BOScoins is similar to account savings in banks. Individuals must hold their BOScoins in personal wallets.
BOScoin co-founder and CEO Yezune Choi explained the meaning of this vote by saying, “Through this vote, BOScoin and PayExpress are pursuing innovation in 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.” He added, “We are going raise awareness in local supply chain sector about the BOScoin ecosystem and expand cases where we can introduce the use of cryptocurrency in the real world economy.”
O2&B CEO Seunghyun Ban said, “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 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.”
For more information regarding BOScoin membership and the second community vote, please visit BOScoin’s website. A community meetup video that explains the second community vote is also available on BOScoin’s YouTube channel.