Watch on our official youtube channel.
Watch on our official youtube channel.
Here’s a playlist for the videos.
The video is always the same person. He sits in the same small room, in front of the same computer. Is he the only developer of BosCoin ? Why is the team not shown?
I saw this and other photos. But, I think, need to show the team more on the video. Team need to tell the about their achievements. This will stop the price reduction of the coin. Price is pulled down. Investors are increasingly selling coins. And now, at this second, someone is selling more than 159,000 BosCoin at a price of 0.00002050 BTC - this will additionally collapse the price of the coin. Thus, the price of the Boscoin coin is pounded to the floor and it can become unnecessary to anyone. The BosCoin team needs to show themselves more and tell about their successes in order to prevent the depreciation of the coin.
Yezune Choi is the CEO and was CTO lead architect of the platform. He is the most informed person you can find.
And where is now channel (group) Telegram BosCoin. Why can not I see him now? One hour or two hours ago he was still working. Now he has disappeared.
오늘 유투브에 올린거 봤습니다 하지만 지난번 내용들과 같은 기술적인 문제에 대한 질문 뿐이었고 원하는답은 없었습니다. 이제는 그런 내용보다 실제 가격을 올릴 수 있는 액션이 되야합니다. 바이낸스에 상장한다고 했는데 계속 미뤄지는게 큰 문제라 생각합니다. 계속 잘 만들면 뭐합니까? 잘 팔려야 가치가 올라가지않겠습니까.
Question - 1
Could you please explain: What P2P exchange is (related to BOScoin)? How it will work? Any current examples? Which trading pairs will be available?
The question is about the Peer-to-Peer (P2P) exchange, we are currently preparing and asking if there are any other such example.
First, I would like to provide some background on why BOScoin is interested in P2P exchanges. The main reason is because of the issue related to current regulatory activities around the world and also within Korea. More specifically in Korea, the regulatory authorities are concerned about whether the public’s interests are protected from existing exchanges. Our concern was how to abide all regulations and still enable trade.
As you might be aware, the advantage of a P2P exchange in principle is that it allows market participants to trade directly with each other without third party intervention. Therefore, the transaction is simpler and can be processed without requiring any middleman fees. However, many P2P exchanges today are not complete P2P, but a hybrid type of P2P platform. An agent needs to be involved in some part of the process since price and other various information need to be provided by someone. We are currently agonizing over a way forward to both, benefit the public, while also keeping in line with the regulations.
We can probably consider “Bisq” or “OpenBazaar” as complete P2P exchanges. As I mentioned before, the advantage of a complete P2P is direct trading – participants are able to transact directly with each other by using the platform without the middlemen. However, on the down side, since there are no ownership supporting the transaction volume, market creation, and advertising activities; there would be challenges regarding who will support the management of the exchange platform (marketing, expanding user base).
P2P is great, however if we ask the question of whether there is a market for this, my answer would be that there are none, or that it is fragmented. In other words, a P2P exchange is not necessarily better than existing (non-P2P) exchanges.
Currently we are determining how to integrate a solution to: enable P2P transactions, generate and sustain autonomous market management, and engaging third parties to assist. We are keeping informed of regulatory changes and finding out ways to sustain trading. Or to put it in another way, rather than referring to this type of platform as a P2P, it could be better considered as a combined platform, combining the advantages of existing exchanges and P2P philosophy.
Since we are not the expert for this, we have a partnership with a specialized company that has been working on this for a long time in Korea. This specialized company is proceeding on this project to enable BOScoin to be used as a key currency in financial transaction. This isn’t something that you will be waiting for too long. In March, we will proceed Beta testing and, based on the result, we will move to the next stage which will be the real transaction state. So, I think we can deliver this platform to you soon.
Question - 2
This looks like a question from a developer regarding the scripting support environment. The question is asking "Will BOScoin support a web development tool or SDK similar to Ethereum, such as web3 for smart contracts?”
Without a doubt, we believe such tools should be provided to the public as the web environment is our point of contact with the community. Currently, we have opened the TokenNet web API to the public. We also think it is necessary to provide public access to the Trust Contract environment when it is ready.
In addition, we do believe that it is necessary to provide an SDK, and will release it to the public in due time. However, it is difficult to say whether this is our priority to focus on at this current stage.
Question - 3
Will it be possible to ‘atomic swap’ with any other coin?
This question is related to the concept of atomic swap – the exchange of one cryptocurrency for another without the need of a trusted third-party or the risk of one party defaulting – and whether BOScoin plans to implement the atomic swap feature.
There are specific projects in the crypto scene that handles such domain – Cosmos is a project specializing in inter-blockchain transactions. You could say its business is similar to a decentralized exchange platform.
Currently, we are not focused on issues such as this but we are planning to address inter-blockchain transactions via our partners with other cryptocurrency entities such as Cosmos.
As I have mentioned in the previous question regarding the P2P exchanges, we believe it can be solved in conjunction with inter-blockchain transaction. Although this is not one of our key focuses, we are looking to discuss it with our partnerships along with other items to be addressed, such as exchange related regulations.
Question - 4
Is the primary target audience primarily for public institutions or governments (and not individuals)? Can you please confirm the marketing model that best fits BOScoin’s overall business strategy?
This question is “What is BOScoin’s business strategy?” for instance, whether it is B2C, B2B, or B2G. If you look at a business strategy, it begins with the vision, mission, and further down the track, you will get the implementation strategies.
Before I answer the question, let me introduce BOScoin’s big picture focusing on social credit. We aim to provide a platform related to this concept. As we have mentioned at recent meetups and conferences globally, our strategy is about Public Financing. Therefore, our vision is to provide a platform to the public for the use of Public Financing as an Investment Bank.
One of our focuses right now is to research and review on the environment that Public Financing can be applied to, and from this, create services that would impact everyday life in a positive way. Determining whether the focus will be B2C, B2B or B2G will be the task after that.
Currently, we are determining how to position ourselves in a niche market. Since we have defined our product domain in a new environment we will review our business strategy and incorporate this into it. We are also reviewing additional sub-strategies, such as BOSolar – a solar energy project – as another consideration. In addition, we are investigating strategic partnerships with, or investment on, related tech companies. All of these strategies relate to the ultimate vision of Public Financing.
So to answer the question, our ultimate goal is Public Financing. Currently we are investigating and carrying out strategies, and tactics that best fits with our vision. Of course, since we are a start-up we are currently refining our niche market.
We will share the details of our business strategy later, on a separate piece to the interested community.
Question - 5
When is BOScoin expecting homographic encryption on the Platform?
This question is regarding homomorphic encryption – an emerging technology in cryptography – asking “What homomorphic encryption is?” and “What BOS Platform is planning to do with this technology?”
To start off, I will first provide a brief explanation of homomorphic encryption (HE) to members unfamiliar with the concept. HE is a solution to the question: “Can encryption technology allow computation to be conducted on encrypted data?” Usually, in order to process encrypted data, it requires access to a decryption key (decrypting the data first, then processing it). HE can obtain a result by processing encrypted data without decrypting it.
As you may know, HE is an emerging technology which is not yet matured. Currently at its infancy, the technology is being interrogated to understand its use. HE is starting to be commercialized and is looking to be applied in various environments and industries. For our BOScoin project, due to the technology in its infancy, the use of HE is still being interrogated.
The way we are looking at it is considering privacy as one of the primary components within the BOS Platform, we believe HE could be used as a tool to secure personal data. To be specific, HE can be used as a solution to prevent tracking an individuals’ transaction history. We aim to apply HE for proposal voting within our Platform.
Currently we are investigating how to verify that an entity has voted without knowing their identity, and what they voted on, using HE. Once we have furthered of our understanding of this technology we will look at other ways to utilize this – until then, our focus in using HE is related to what was mentioned earlier.
Question - 6
Can you please explain ill behaved / slow nodes in BOScoin. How is this different from Ethereum? How will BOScoin prevent attacks such as DDOS attacks?
This question regarding the stability of the nodes: “Does the BOS Platform penalize on slow nodes?” and “How can an individual maximize their benefit or minimize their damage from DDoS attacks?” In other words, the question is asking how the BOS Platform is designed and protected from DDoS attacks – because conflicting interests may exist between node operators and individuals’ interests. This is a very good question but it requires a very complicated answer.
Our decisions are made to align with our vision and strategies, which would be to support the Public Finance feature – this requires consideration of various components such as security. For example, in Public Financing the voice of the customer and public demand are very important factors since it relates to social credit. Many people should be able to participate, and an individual’s vote should be identifiable – similar to general elections, falsified votes are a major issue.
Technically, our priority is to achieve and protect the network to support Public Financing. How to fend off DDoS attacks and how to run a node would be a subcomponent. Existing cryptocurrencies such as Bitcoin and Ethereum’s vision and business plans, and what they strive for, are different to ours.
Our solution to protect our platform against DDOS attacks will be aligned specifically to our business, values, and product; it will be incorporated into the design and delivery of our platform subcomponents.
The question is very important but complicated, however I can only share the principle of how we will address this since there are many underlying aspects to resolve in order to answer this question. Nevertheless, the reason for sharing the principle in how we will address this helps describe the various considerations required. We will explain in more detail later regarding how we will apply this principle.
Question - 7
Please explain the economic impact when decisions are made to add coins to the BOScoin ecosystem (i.e Ethereum allows coins to be created) - Please provide an example.
This question is about BOScoin as a "currency space”, as opposed to Ethereum being a platform, where you can create your own token and simply create another currency space. I also believe the question is “What kind of global impact are we expecting?” and more specifically, “What is our plan regarding the total volume of the coin or our coin issuance policy?”
I’m sorry to say but this brings us back to Public Financing once again. Currently, tokens there are being created on top of Ethereum according to specific business needs, but what we are aiming to do, which is the major difference to Ethereum, is to expand BOScoin’s currency space and utilize the platform itself, instead of creating a domain specific token with limited usage.
In Ethereum, anybody can create and add a new token as long as their vision is clear and they have the marketing capabilities. The process is fairly free because anyone can issue the token regardless of Ethereum Project control, and it does not impact the eco-system of Ethereum. Of course, since Ethereum operates as a base currency for those domain specific projects, there are some instances of synergy.
However, taking a look at the grand scheme of things, there is potential waste in terms of synergy by creating such endless number of tokens. The big difference is that we plan to increase the supply of BOScoins via self determination, rather than create domain specific coins, and enable the ecosystem to organically work their way out and integrate into the BOScoin currency space.
This may concern many people because cryptocurrencies are inherently designed to be resistant to arbitrarily manipulating the supply of tokens. People were not happy with the fact that entities such as the Federal Reserve or governments are manipulating the supply of currency unilaterally;cryptocurrencies were supposed to be an alternative or a solution for this.
Therefore, we completely understand the public’s thought on arbitrary manipulation of currency supply. What we are suggesting is not to arbitrarily increase the supply of tokens, but to increase it via the voice of the community. We would like to emphasize that these are two distinctly different things.
Increasing the coin supply may cause some negative effects, but we believe the community will approve increasing supply only when the benefits of doing so will outweigh the negatives, or only as much so as the community is willing to risk. If the benefits outweigh the negatives, increasing supply and expanding the currency space will be beneficial to the overall community and that is the platform and ecosystem we are aiming to create.
Question - 8
Please explain BOSolar.
The question is related to the BOSolar project, and I would like to explain the background of the project first. Initially this project started with an intention to apply the concept of Public Financing through blockchain rather than a focus on solar energy.
For this reason we started the BOSolar project. Currently in Korea, there is an ongoing issue with the distribution of solar energy. We saw an opportunity in this area and delivered a demonstration on how cryptocurrency can be used to optimize energy exchange, using BOS Platform as an example.
We are looking for potential projects and are prototyping and creation proof of concepts in order to find other suitable use cases for Public Financing. The BOSolar project is actually a use case with an actual business partnership, and this year we are planning to develop our experience to do work with a business partner on a solar energy related Public Financing project. We are looking for other partners to work with to expand our BOS environment.
Question - 9
How was the meeting with Franz and their association with BOScoin?
This question is related to the meeting with Franz during our trip to the US this February. Franz is a company who specializes in ontology, and has been researching on this area for a long time. As mentioned in our initial white paper, we have a strong interest in ontology and smart data construct.
Therefore during the meeting, we were interested to see whether it would be possible to, for the development of our ontology component, collaborate with Franz who are experts in this field, with almost 30-40 years experience.
We have been working on the task to connect the blockchain with the real world. Through this, we have discovered a key emerging topic relating to Trusted Third Party (TTP) data and how to ensure third party information on the blockchain.
We should find a solution to combine the existing ontology and semantics components to TTP. Conceptually, ontology is a trust system, however the issue is whether we can trust it or not. Franz has been researching on this aspect for a long time. We are interested in an opportunity to collaborate with Franz, an ontology specialist entity, to address TTP related issues.
Our meeting focused on two topics: first, understanding how Franz’s ontology expertise and our blockchain knowledge can be used to put ontology on our Platform; and second, establishing a joint partnership to develop and solidify our (mutual) understanding around TTP.
Franz has visited Korea once before, but last February was our first official meeting specifically on these matters. During the meeting we explained the plan for our Platform and discussed our interests. We are looking to continue meetings with Franz and refine areas of common interest between us.
Question - 10
Please explain homomorphic encryption and the future of this on the BOS Platform?
This question relates to homomorphic encryption (HE) which we have discussed previously. However, I would like to explain it once more since there are many questions regarding this technology.
We aim to address personal and data privacy as we believe a solution to this would help us expand the user base for our Platform. We think we should provide solutions for privacy for two areas; data privacy, and personal privacy.
Currently, we are incorporating HE into our blockchain – in relation to voting, we aim to use HE to receive an accurate result without publicizing, or even distribution an individuals’ personal information. Further in the future, we will look to incorporate this technology into other features – however with technology at this maturity, we will proceed with the current scope.
Question - 11
Is BOScoin hiring?
Looks like this question has been asked by a developer as it relates to our plans on hiring additional developers. We are continuously hiring developers through various channels including using world-class headhunting and HR organizations.
As you may be aware, there are a shortage of blockchain developers.Therefore, I want to take this opportunity to inform the community of job openings for our project. On our homepage, we have a banner advertising our job openings. If you are interested to join our team please feel free to apply and we will reach out to you as soon as possible.
We have established an employment process to assess the skills and experience required, for those who are interested in working for a blockchain company, so please feel free to apply.
Question - 12
What is BOScoin’s relationship with Cosmos?
This question is regarding to our relationship with Cosmos, and if there are any collaborative work happening right now.
Cosmos is being developed in accordance to their white paper, but I cannot comment on any specifics about their project. What I can say is that the partnership is still there and when things materialize we will have more things to develop as a joint project.
As far as I am aware, development is going well apart from some delays, so I am sure we can do great things together soon.
Question - 13
Does BOScoin have an account freezing feature?
This topic has not been my focus to date, however, according to this question, I am assuming that Stellar and Ripple have an account freezing feature. The question is asking if BOScoin currently has this type of feature.
There are two answers to address the question. First, the current BOScoin TokenNet does not have this account freezing feature. So, if the question is asking about re-freezing the account or locking the account to restrict individuals using it, our BOScoin TokenNet does not currently provide this feature.
The second is a similar answer I gave in one of the last AMA videos about the need to freeze accounts involved with bad activities.
It is not difficult to implement this feature, however account freezing requires disabling the use of the account via a congress voting mechanism, which could potentially expose itself to an abuse of power, using a majority consensus against the minority. If we were to implement this feature we need to be cautious and review all possible implications tied to this feature.
Question - 14
What are BOScoin’s thoughts on Lightning Networks, and what are their plans?
This question is asking for our thoughts on lightning networks, a major topic in the cryptoworld, and how we are responding to this. Lightning networks were introduced to solve transaction saturation in the Bitcoin network, to speed up certain transactions.
Our BOS Platform uses the Stellar Consensus Protocol, and already it has addressed some of the aforementioned Bitcoin issues at the consensus level alone. Our transaction speed is pretty reasonable, so there is no immediate need to introduce a lightning network for our Platform at the present.
However, we think it is meaningful to prepare the Platform for interoperability with other coins or some form of linkage to other cryptocurrencies. We are currently focusing efforts on developing our mFBA, and will present to the public the improvements once we have it at a suitable level. After this, we may interrogate potential lightning network solutions to address interoperability with other crypto-networks.
Question - 15
Has Public Financing taken priority over Trust Contracts?
This person has mentioned that Trust Contracts are an important aspect in the Platform, however the release in July appears to focus on Public Finance and not Trust Contracts. They’d like to understand the difference between the two and has expressed concerns about the difference in the plan against the current white paper.
Trust Contract is a technology related to creating a code for final settlement, however Public Finance is a business model. As you may be aware, cryptocurrencies are positioning themselves in many different domains. Regarding BOScoin, we aim to focus on a business domain called Public Financing.
In addition to this, we aim to release technologies to supporting this in July. Our attention on Public Finance does not mean that we are disregarding or de-prioritizing Trust Contract development. It is almost impossible to compare the two concepts since Trust Contract is a technology, and Public Financing is business related.
We will create a blockchain oriented towards businesses, which will require the development of sub-components such as Trust Contracts to drive Public Financing. In July, we aim to release Trust Contract features needed for the Public Financing business domain. In March our release of the code will also include an initial view of our Trust Contract technology.
In saying that, I would also like to briefly explain about Trust Contract technology in this clip. The level of the technology that we are targeting is very advanced since it is aimed to be a tool for final settlement, this requires many complex concepts to be addressed.
It also needs to deliver to the fundamental safety of the program. Due to the complexity of this we would like to approach the delivery in two phases, initial release and a later release. In July, we will release the details focusing on our business model and technologies that support the initial release of the platform.
We believe that it is not foreseeable to deliver the Trust Contract technology in its completeness in July, however we aim to ensure it addresses all necessary components to achieve Public Financing.
Question - 16
How do Trust Contracts compare to Ethereums’ smart contracts, and what is the development progress?
The question is asking how BOScoin’s Trust Contracts are better than Ethereum’s Smart Contracts, and if there are any updates since the previous meetup in Berlin last year.
As I mentioned before, Trust Contract technology should deliver the code, it is much more difficult to create algorithms and code in a standard smart contract than writing a Trust Contract. In addition, the functionality of Trust Contracts will be further enhanced once it is at a more matured state.
There are two different approaches to deliver this; TAL which is related to the language modeling, and OWL which relates to data stability. Regarding our updates, we previously only mentioned about specific components that make up the Trust Contract architecture.
Currently we are focusing on the constraints of this and the environment for which Trust Contracts can be written in – this is the first phase and we working in Iterations. We aim to share a prototype of the Trust Contract environment later this month in March, in addition with the code release. Along with the initial prototype release, we will share the details of the Trust Contract technology in our updated white paper later.
Detailed components of this include challenges relating to this technology, our approach to the problem, the proposed solutions, and short-term and long-term work packages.
Question - 17
What is BOScoin’s plan with retinal scanning technology?
I believe this question was from an attendee at our US meetup. It is asking if retinal scanning technology – a very complex technology to identify people – can be used to enable single voting on our BOS Platform. I also believe the intent of the question asking whether retinal scanning is a core technology on our Platform or not.
The reason that I brought up retinal scanning technology at the meetup is because the BOS Platform is determining a way forward between either one-person-one-vote or one-node-one-vote. In blockchain, addressing one-person-one-vote is very difficult.
To implement one-person-one-vote without a third party on the blockchain requires overcoming several challenges. I mentioned retinal scanning technology as an example tool to overcome the challenges. We have a established a partnership with a Korean company who specializes in this human identification technology. They are developing an identification system and we aim to have it integrated into our platform to enhance the KYC requirement.
Of course, it also will be challenging to merge the two technologies and to have them both operate effectively. In the current blockchain environment, KYC verification is done at the individual level. However, since we are not verifying at the individual level the challenge would be to publicize the use of this technology to the community.
We believe the realization of one-person-one-vote, and proving that the actual democratic process on our Platform works, will be greatly valued in the market. In saying that, we are challenging ourselves and aiming to have a pilot project this year in this regard.
Question - 18
Can you deliver to the July deadline?
This question relates to whether we can keep to the milestones, and also whether we can meet our planned BOSnet (MainNet) release deadline.
When managing projects, there are three elements to consider – something we call QCD: quality, cost, and delivery. Meeting the deadline relates to the delivery of these three elements.We should ensure a balanced priority of all three and not forego any element over another. For example we cannot disregard cost; delay the deadline forever; or drop the quality of the Platform.
In relation to BOSnet, we have described the components in the white paper, and our team is currently sculpting the finer details of each component. This requires us to continuously define and prioritize the various components and sub-components to achieve the ultimate goal – this relates to delivering quality in the product.
As our development includes refining the details to ensure quality, we are accordingly balancing the cost and delivery in parallel. This includes adjusting our resourcing and managing additional required tasks. I would love to say that we will keep to the deadline for delivery in July more than anything else;however in order to keep this promise we need to balance the priorities appropriately on an ongoing basis.
Our development includes a constant revisit to define and re-define the parts to maintain quality – these will then lead to prioritization tasks to address the needs,
and to meet our target deadline.
Question - 19
What are BOScoin’s thoughts about the Commons Budget / Proposal voting process?
This is a very good question, and I would like to offer a bounty to the person who asked this question. The question relates to whether is a conflict of interest between pre-sale/fundraiser participants and the new participants, and if so, how BOScoin is planning to solve this problem regarding the gap between one-person-one-vote and one-node-one-vote.
We are aware that there are differences between one-person-one-vote and one-node-one-vote. One-node-one-vote relates to a PoS type of framework, which is what we had in our original white paper. However when looking at Public Financing, we believe the product should be tailored towards the voice of the community, more specifically one-person-one-vote.
Respecting the differences between the two voting frameworks, we are working towards a solution to ensure a fair and sound system. This work is currently ongoing and we are working to include this in the second version of our white paper to be released in March – this will have more detail in this area, and our decision.
It is difficult to share our current direction of this topic due to its maturity, however we would like to invite the public to express their opinion instead of us enforcing our decision onto the Platform – we will open this to the community in due time.
To assist the discussion, we will prepare our thoughts such as pros and cons of one-person-one-vote and one-node-one-vote, the outcome of mixing and separating the two voting principles, possible options on this topic, our perspective(s), and so on.
The public might believe that the white paper, when upgraded from version 1.0 to version 2.0, is a mere upgrade, however it is actually quite significant. e believe it would be good to invite the public to participate with their input on this topic,
where the outcome will be used to update our white paper.
I would like to take this opportunity to share my experience during the 10 days attending conferences and meetups last month in the US. I presented at the conference on BOScoin and answered some questions; however I believe the most important achievement is the release of our initial concept of “Public Financing” to the public for the first time.
My first concern was the community’s reaction to a very new “Public Financing” concept since it has not been associated with BOScoin, or even in this business domain before.
But to my surprise, we received a good response from the public at the Dallas conference; and it was a good lesson for me. Even at the San Francisco meetup, where approximately 100 people attended, the attendees was very favorable towards our Public Finance concept.
I gained confidence on our concepts and our business model, and more specifically at Public Financing, and on communicating this to the wider public. In addition, my thoughts were reinforced seeing the interest of our Public Financing concept being gracefully accepted by the community. From this experience, I realized the need for more marketing activities, and it has motivated me to push work in this regard.
Our AMA received many questions about Public Financing and homomorphic encryption. We will continue to share more, including various technologies and development of this business model and the wider technology.
We are continuously discovering homomorphic encryption related privacy technologies advancements and applications, but in the future it may develop to other technologies such as multiparty computation. Our research center and teams will continue developing necessary technologies for Public Financing
so that it can bloom all across the world. Thank you!
Can you provide English subtitles for AMA2?