Ask Me Anything – PF & Congress Voting – February 2019

Written by Yezune Choi & PF Team of BOScoin
Fabruary 22 2019

Answer questions about PF & Congress Voting

We tried to provide and cover all the questions you’ve submitted. Thank you.

Q1. BOScoin has signed a Memorandum of Understanding with Payexpress, WOTI, Nature Mobility, Korea Cashback, and FORBIZ Korea, what checks and balances were they put through and would it be a setback if any of these were not approved in Congress? Thanks, Chef Bedo.

  • MOU is nothing more or less than a promise of cooperation between the companies. Thus, there are no checks and balances involved in the MOU.
  • MOU는 회사 간 협력의 약속일 뿐입니다. 따라서 MOU에는 수표와 잔액이 없습니다.


Q2
. On your website, it says under Insurance PF “The insurance PF’s purpose is an insurance budget for reducing the risk for the Blockchain oracles and guarantee trust in the BOScoin economy.” Can you please explain this as it is not clear to me, is Insurance PF different to regular Public Funding? Thanks, Chef Bedo.

  • Insurance PF is not yet set in concrete. Detailed plans will be shared in the related proposal.
  • 보험 PF는 아직 구체적으로 설정되지 않았습니다. 자세한 계획은 관련 제안서에서 공유될 예정입니다.

 

Q3. When credit is created to get various real assets in the economy for eg: We vote to swap PESS tokens at market price for BOS, won’t Payexpress then dump those BOS to pay for business expenses hence lowering the price of BOScoin? The way I see it this will punish BOScoin holders and reward those who invested in PESS private sale. Thanks.

  • Both BlockchainOS and partner companies are trying to find ways not only to expand BOScoin usage/transactions but also to increase the value of BOScoin at the same time.
  • For example, Payexpress is trying to make a deal with various financial institutions to receive a loan with BOScoin collateralized.
  • In this way, Payexpress plans to execute their business expanding BOScoin economy and to enhance the value of BOScoin at the same time.
  • BlockchainOS와 파트너 회사 모두 BOScoin 사용 / 거래를 확대 할 뿐만 아니라 BOScoin의 가치를 동시에 높이는 방법을 찾고 있습니다.
  • 예를 들어, Payexpress는 BOScoin이 담보로 제공되는 대출을 받기 위해 다양한 금융 기관과 거래를 시도하고 있습니다.
  • 이런 식으로 Payexpress는 BOScoin 경제를 확장하고 동시에 BOScoin의 가치를 향상하는 사업을 수행할 계획입니다.

 

Q4. Recently we had a pre-sale of Pay Express. Investors send BOS and received PESS with 30% discount. After that, I track the Pay Express account and observed that their account sold a huge amount of BOS dropping the price. So, they used the BOS to get fund for their project and it contributes to undervalued BOS from USD 0.07 to 0.03. It also destroyed BOS value creating an advantage for Pay Express swap their PESS by BOS in PF01. In this case what action will Blockchain OS provide to avoid the same future situations with other partners? My suggestion is to create a compliance partners rule that defines a fixed block or frozen period that the partner should keep all BOS received in pre-sale. The partner should assign a contract informing all public BOS, BTC, and ETH accounts, that they will be used to get the funds and also assign the agreement that not permit to sell the BOS until the date fixed and approved by Congress, under penalty of suffering sanctions and financial penalties. This subject is really important to create value for BOS and keep the project alive.

  • We deeply understand your concerns. BlockchainOS and partner companies together are trying to find ways to expand BOScoin usage/transactions and to increase the value of BOScoin at the same time.
  • For example, Payexpress is trying to make a deal with various financial institutions to receive a loan with BOScoin collateralized.
  • In this way, Payexpress is expected to execute their business expanding BOScoin economy and to enhance the value of BOScoin at the same time.
  • Once the deal is made, other partner companies can use similar methods with fewer difficulties.
  • 우리는 질문자님의 우려를 깊이 이해합니다. BlockchainOS와 협력 업체들은 모두 BOScoin 사용 / 거래를 확장하고 BOScoin의 가치를 동시에 높이는 방법을 찾고 있습니다.
  • 예를 들어, Payexpress는 BOScoin이 담보로 제공되는 대출을 받기 위해 다양한 금융 기관과 거래를 시도하고 있습니다.
  • 이런 식으로 Payexpress는 BOScoin 경제를 확장하고 동시에 BOScoin의 가치를 향상하는 사업을 수행할 것으로 예상합니다.
  • 일단 거래가 이루어지면 다른 파트너 회사들은 거의 어려움 없이 유사한 방법을 사용할 수 있습니다.


Q5
. Where do you stand on the side of burning a percentage of tokens so to limit the supply or is this counter-productive in BOScoin’s case when it comes to public financing etc? Thanks, Chef Bedo.

  • Let me bring back the question to you. Would you want your BOScoin to be burned to increase the total value of BOScoin? The answer would be no.
  • Likewise, we can’t burn anyone’s BOScoin for the whole. Decreasing supply will add BOScoin’s scarcity, but it will infringe on someone’s rights.
  • Rather, BlockchainOS is trying to increase the demand for BOScoin more than the added supply.
  • For example, the year 2019 total supply of BOScoin can increase from 500 million to 650 million.
  • If the increase occurs without any added demand, its price is likely to drop. If demand exceeds added supply, the price will rise.
  • Thus, more than 150 million BOScoin should be demanded by more users to freeze or to use in the real economy.
  • In principle, Public Financing aims to achieve this. By utilizing partnerships which will bring in real-asset based business into BOScoin economy, we would like to increase demand for BOScoin.
  • 질문자님의 질문을 다시 불러오게 된다면, BOScoin의 총 가치를 높이기 위해 BOScoin을 태우고 싶습니까? 에 대한 대답은 ‘아니오’입니다.
  • 마찬가지로 우리는 누군가의 BOScoin을 전체적으로 태울 수 없습니다. 공급 감소는 BOScoin의 희소성을 증가시키지만 누군가의 권리를 침해할 것입니다.
  • 오히려 BlockchainOS는 추가 공급보다 BOScoin에 대한 수요를 증가시키고자 합니다.
  • 예를 들어, BOScoin의 2019년 총 공급량은 5억에서 6억5천만으로 증가 할 수 있습니다. 추가 수요 없이 증가만 발생하면 그 가격은 하락할 것입니다. 수요가 추가 공급을 초과하면 가격이 상승합니다.
  • 따라서 실제 경제에서 동결하거나 사용하는 데 더 많은 사용자가 1억5천만개 이상의 BOScoin을 요구해야 합니다.
  • 원칙적으로, Public Financing은 이를 성취하고자 합니다. BOScoin 경제에 실질적인 자산 기반 비즈니스를 가져올 파트너십을 활용함으로써 BOScoin에 대한 수요를 늘리고 싶습니다.

 

Q6. Hi, I think there should be a fund set aside for individuals who bring in a partner company or a connection to expand any of BOScoin’s partners into their country, it wouldn’t need to be too large an amount but imagine having bounty hunters doing all the foot-work approaching and courting large companies seeking public financing. Would this be possible? Thanks, Chef Bedo.

  • You are right. We’re designing a proposal to provide incentives to the entity which brings shops and stores to accept BOScoin as a payment option.
  • 네, 질문자님이 이야기 하신 게 맞습니다. 우리는 BOScoin을 지불 옵션으로 받아들이도록 가게와 상점을 가져오는 회사에 유인책을 제공하는 제안을 설계하고 있습니다.

 

Q7. Part of BOScoin’s White Paper 2.0 is public financing to acquire public assets and partners but have you thought about diversifying into Fiat and physical assets like gold and silver with a portion of your BTC? This is a good hedge against inflation and with China and Russia being big buyers the price is only going up.

  • I am sorry that operating asset management is not the purpose of BlockchainOS.
  • 운영 자산 관리가 BlockchainOS의 목적이 아니라는 것을 유감스럽게 생각합니다.

 

Q8. In order to increase the value of BOScoin, I wonder if there is any idea to make a reverse ICOtoken a small amount Airdrop for those who have a BOScoin membership. Example) 1 BOScoin = 1 reverse ICO token or 2 BOScoin = 1 reverse ICO token.

BOScoin에 가치상승을 위해서, 리버스 ICO token을 BOScoin 멤버십을 보유한 사람들에게 소량이라도 Airdrop 할 생각이 있는지 궁금합니다. 예)1 BOScoin=1 reverse ICO token 이나 2 BOScoin=1 reverse ICO token

  • Partners have already paid more (30% PESS) tokens to BOScoin holders during the pre-sale period. BOScoin Airdrop does not directly increase the value of the BOScoin.
  • 파트너사들은 이미 프리세일 기간 중 보스코인 홀더들에게 더 많은 (PESS의 경우 30%) 토큰을 지급하였습니다. 보스코인 에어드랍이 직접적으로 보스코인의 가치를 상승시키지는 않습니다.

 

 

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