Blockchain technology continues to disrupt various industries, and BOSagora Foundation is just one of the many driving forces behind its growth. The foundation, a public blockchain platform based in Switzerland, recently announced its partnership with The9Company Korea, a self-serve payment kiosk provider, to integrate their products and services together. This collaboration is set to unlock new potentials in the blockchain space.
Integrating Token Business with Kiosks
In January, BOSagora Foundation launched Agora, its proprietary mainnet that operates on a decentralized network with more than 2,348 validators worldwide. Tokens issued by services running on the Agora network are interchangeable with THE9, the kiosk mileage token of The9Company Korea, through BOASwap. Users can opt to pay using mileage or tokens when using the kiosks, and collected tokens can be utilized at other stores with The9Company kiosks or traded for other service tokens on the Agora network.
The BOSagora Foundation President In-hwan Kim noted that by creating tokens based on a public blockchain network like Agora, businesses could expand into daily life services beyond kiosks. The aim of the partnership is to enhance competitiveness and attract high-quality decentralized applications (DApps) to their network ecosystem that is integrated into daily life, setting it apart from other blockchain networks.
New Board of Directors
Aside from technological advancements, the collaboration between BOSagora and The9Company Korea also impacts the organizational structure of the two firms. Newly-appointed board members to the BOSagora Foundation are Cha Seung-hyuk and Ra Hyun-chae as chairman and CEO of The9Company Korea, respectively. This highlights the significance of the partnership in the further cultivation of the blockchain ecosystem.
Unlocking Potentials in the Blockchain Space
The partnership between BOSagora and The9Company Korea is expected to unlock many potentials in the blockchain space. By integrating blockchain technology into self-serve payment kiosks, businesses can benefit from the decentralized nature of the blockchain. It can help to reduce transaction costs, increase transparency, and provide a secure platform for transactions.
One potential that this partnership can unlock is the tokenization of various industries. By integrating tokens into payment kiosks, businesses can create loyalty programs that incentivize customers and increase customer engagement. It can also help to reduce the cost of loyalty programs and provide more flexibility in reward programs.
Furthermore, the partnership can benefit the tourism industry by providing a secure platform for transactions on the go. Travel agencies, hotels, and tourist attractions can all take advantage of the integration of blockchain technology into payment kiosks. It can help to reduce fraud and increase transparency in transactions along the way.
Final Thoughts
The partnership between the Switzerland-based BOSagora Foundation and The9Company Korea is set to unlock new potentials in the blockchain space. By integrating blockchain technology into payment kiosk services, businesses can benefit from the decentralized nature of the blockchain. The partnership can also benefit various industries, including tourism and retail, by offering a secure platform for transactions.
With the addition of new board members to BOSagora Foundation, this collaboration is expected to drive the development of the blockchain ecosystem forward in the years to come.