June 19, Seoul – BOSCoin (BOSCoin, www.boscoin.io, CEO Yezune Choi, BlockchainOS), “a finance blockchain project to hack capitalism in the most capitalist way”, is taking a problem from Project Financing—high financial fees—and providing a solution: A new financing methodology based on three alternatives for the Age of Blockchain—credit creation through participation, global finance through collective intelligence, and the commonization of assets. BOSCoin is developing “BOSNet”, a blockchain based mainnet for Public Financing. Furthermore, in order to discover and nurture reverse ICO corporations who want to run financing projects on BOSNet, BOSCoin announced the “Reverse ICO Partner Program.”
This program targets corporations that are already operational with their own business models, and looking for additional financing through blockchain based ICOs or Public Financing, not the traditional financial system.
Companies can apply to BOSCoin’s “Reverse ICO Partner Program“. Applicants are judged by and selected as partners according to their business models. Partner companies who successfully raise 500 million KRW (approximately $0.45 million) in the pre-ICO stage will be funded an additional 500 million KRW, bringing the total early capital to a billion won. The partners will be given technical consultations and blockchain technological support in order to facilitate the ICO process. After the ICO, business can be conducted on the BOSCoin mainnet, and additional capital funded through public financing.
When reverse ICO corporations use BOSCoin, they can conduct business quickly, without the need for extensive technological investments into the blockchain. Furthermore, raising post-ICO capital on BOSNet through Public Financing is drastically cheaper than using the traditional financial system with its high fees. CEO Yezune Choi said, “Because the BOSCoin mainnet development is on-schedule, we want companies who want Public Financing on the mainnet.” He also said, “In order for the market to accept the new concept of Public Financing, we will cooperate with reverse ICO corporations beginning in the pre-ICO stage, and support building real businesses on the blockchain.”