BOScoin – Ask Me Anything – Management and Foundation

Written by Yezune Choi, CEO of BOScoin
June 29th, 2018

Answer questions about management and foundation

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

Q1 I understood how PF works. Could you tell me how you can proceed proposals through the Commons Budget. (I wonder if this is done in such a way that the overall quantity of the BOScoin increases)

  • The proposals for the Commons Budget in White Paper 1.0 has changed to Public Financing on White Paper 2.0. The difference is that credit generation via PF is not limited, although the total number of the Commons Budget transactions are limited to 1.8 billion. The purpose of the Commons Budget may be questionable, as we are currently designing for what purpose it will be used for. It could be used as a budget to support PF (marketing, GTTP costs, etc.), or it would be possible to generate PF credit in the first few years as the Commons Budget. The detailed plans will be covered in the White Paper 2.0 Part 2.

Q2 Why developers would prefer Public financing and not ICO. In situation when this two types of funding are equal for developer, why should he choose BOS platform?

  • The PF program is intended for those who want to do business in general, not only for developers or companies who want to enter the crypto business. For those who need credit in the general business sector, the investment can be made with better terms than the existing finance method, and allow access to financing easier.

Q3 What will management to do to come up with realistic and accurate timelines. It seems the dates are always not honored most of the time.

  • Our dev team building is almost finished. In the past, the major issue of delivery was a problem (lack of resources) caused by incomplete teams. Now, the dev team building is completed, and will provide concrete(expected) milestones. As you feel lacking, we will work harder on development and update development progress more frequently.

Q4 How do you plan to expand our community to increase the number of users/node operators, I’m not talking about paid advertising but fear the strategy up to now hasn’t been very engaging as far as outreach goes.

  • BOScoin is being offered collaboration from various companies through the Reverse ICO Partnership program, among them we shall collaborate only with the company who can help to expand the BOScoin ecosystem.

Answers to Korean questions

We provide Korean answers only for Korean questions.Answers to Korean questions

Q1 PF의 방식에 대해서는 이해를 했습니다만.. 그렇다면 커먼스 버짓을 통한 제안서에 대한 구체적인 진행방법을 이야기해주시면 감사하겠습니다. (이거 역시 BOScoin의 전체 수량이 증가되는 방식으로 진행이 되는건가 싶습니다.)

  • White Paper 1.0의 Commons Budget을 통한 사업 제안이 White Paper 2.0에서 PF로 바뀌었다고 생각하시면 될 것 같습니다. 차이점은 Commons Budget 발행량은 총량 18억개로 제한되어있지만, PF를 통한 신용창출은 현재로서는 제한량이 없다는 것입니다. 그러면 이미 예산으로 설정되어있는 Commons Budget의 용도가 의문일 수 있는데요, Commons Budget을 어떤 용도로 사용할지는 현재 설계 중에 있습니다. PF를 지원하기 위한 예산(마케팅, GTTP 비용 등)으로 사용될 수도 있고, 초기 몇 년 간의 PF 신용 창출을 Commons Budget으로 할 수도 있을 것 같습니다. 구체적인 계획은 White Paper 2.0 Part 2에서 말씀드리겠습니다.

Notice

AMA responses will be posted on the homepage between the 21st and the end of the month. There is no exact date they will be posted.

Any questions which are repeat questions, not constructive in nature, don’t serve the interests of the broader community, are inappropriate and/or vulgar in nature will not be answered.