Blockchain Startup BOScoin, Korea Cashback Partner To Develop Global Travel Platformbr>
Blockchain project BOScoin has entered into a Memorandum of Understanding (MoU) with Korea Cashback to develop a global travel platform.
Launched by South Korean FinTech startup BlockchainOS in May 2017, BOScoin is a self-evolving cryptocurrency platform for trust contracts. Trust contracts provides a decidable and approachable framework for creating and executing contracts on the blockchain. BOScoin is currently engaging in new partnerships to apply blockchain in key industry areas to innovate and expand its business model and actively build up the BOScoin ecosystem.
Korea Cashback is company that is aiming to contribute to the development of the South Korean tourism industry. It was selected as the Preliminary Venture Business in Korea’s tourism industry and received support via crowdfunding by the Korea Tourism Organization (KTO).
The two companies will work together to develop a global travel platform, dubbed Woti. The platform will utilize BOScoin’s distributed-network-based Human Identity Authentication to provide useful information for travelers using location-based service (LBS), so as not to violate personal information protection acts that are strengthening worldwide, including Europe’s General Data Protection Regulation (GDPR).
The goal of the mobile-based platform is to provide travel and commercial information that can be helpful for “Free Independent Travelers” (FIT). Once developed, Woti will also allow users to play in-app games or solve quizzes and let them earn rewards, such as entrance tickets or discounts at hotels or restaurants, anywhere in the world. Woti also plans to work with travel agencies and travel service providers to add new services.
“We signed an MOU with Korea Cashback because we considered the company to be a suitable partner for us to expand the business into a global platform, with its outstanding know-how and achievements in the domestic travel industry,” said BOScoin CEO Yezune Choi. “We are going to hold a BOScoin Partner Community Meetup soon to showcase the partnerships and the progress we have made to date.”