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BOSAGORA Press Conference 16th May 2019

Part 3 Q&A

When BOS coin was launched in 2017, the only thing that could be called a blockchain platform was etherium. In the past two years, there are a lot of mainnet competitor platforms, including EOS, Cosmo, and Tejos. What’s BOSAGORA’s competitive edge against them? Can we officially reveal how much money we have left after spending two years without any development?

Lang) Project Competitive Advantage: The majority of platforms are based on proof of work and this is based on trust. But It is important where to put trust. EOS has fewer nodes and only they make decisions. It is basically based on the ‘spirit of distribution’ and fails to achieve scalability. The lightning network (Bitcoin) has two nodes off-chain. It is to realize a decentralization, but if we try to develop both together, one will only degenerate. Our methods are differentiated because of their broad scalability as the blockchain grows.

Kim) The differentiation is the tool to implement direct democracy. We will be able to implement democracy through voting, and we will be able to build an ecosystem by providing enough functions or tools in it. In addition to the consensus algorithm, the function of the congress (the governance function) allows full collective intelligence and the function of the DeFora also enables mature democracy.

Serge) Currently our fund is 20% more money than the ICO. The ICO amount was 12million dollars

Blockchain OS launched Sebak, but you said you cannot use it. The preparation committee of Blockchain OS (Boscoin holders) says it would be nice to use Sebak. Are you issuing ERC20 after looking for some negotiation points? Don’t you become enemies with those community members? Is it possible to implement BOSAGORA?

Lang) I know it because I participated in the development work of blockchain OS. The voting function is not completely decentralized, and it is controlled by blockchain OS. It’s not encrypted. Of course, it will work if they change several things, but more work is needed to be done in order to be fully functional. As the Congress is mentioned, the voting system is an open source system that is not decentralized. It is based on blockchain OS server. So you can manipulate the code. There is also KYC, but there is also a problem in transparency. DeFora is a transparent decentralized system. There can be no manipulation at all.

When the two sides failed to reach an agreement, are the two BOSs and BOA exist? I wonder why BPF Korea is developing its own version of BPF Korea when it said BPF Korea was just a Korean office of the Foundation.

Lang) BPF Korea will become the direct entity and develop the BOA.

Lee) I felt that there had been a lot of damage to structures and decisions that were not transparent, and thought it was better to proceed with checks, though the foundation with a desire and goal directly controlled. Therefore, with in-house development and the formation of outside advisory personnel, we will structure the BOSAGORA project.

Kim) BOS and BOA are now separate projects. However, it was decided only that the BOS was not funded by the foundation. Blockchain OS can proceed with its existing development independently.

Is the Foundation no longer involved in the Boscoin?

Kim) The foundation is no longer involved in blockchain OS.

And what kind of services will be applied to BOSAGORA platform services, and where did you sign a contract with? Please introduce Lee Moon-soo, the CEO of BPF Korea.

Kim) Although it is difficult to elaborate on business services, in the white paper, it would create applications such as Stardaq because the value of the coin increases only when there are many coin holders. By July, the Stardaq service will be opened. And because BOSAGORA is a platform, it has to be chosen by apps. I will try to show potential through applications.

Lee) I have worked in IT for 27 years and in Fintech security field recently. In 2017, I became a member of the Blockchain OS service development staff and was separated, and recently became the CEO of Stardaq’s Xtremer, and this time, I was appointed as the head of the new BOSAGORA project.

If you have existing token holders and they don’t move to BOSAGORA or the exchange doesn’t support BOSAGORA, isn’t BOSAGORA not working? How to solve this problem.

Kim) Starting today, BOA Coin will be released by airdrop for those who apply on its website, so it is not up to us to decide whether to buy it or not. The BOS coin is listed in 4 exchange, and what is more important than being listed on many exchanges is to raise liquidity plus value, with projects centered on it. It expects to be listed on an exchange in mid-June.

BPF Korea is 100% owned by the Foundation, and I wonder why it has created 100% corporate ownership. We talk a lot about checks and balances, but the foundation has a 100% stake. Do you have any outside auditors?

Lang) There are two supervisory bodies. There is TAB Technical Advisory and BOM Management Advisory. The TAB is made up of three technical experts. Some of them have worked at financial institutions, some of them have a solidity developer. They have an insight into technical things and will have a monthly meeting including financial aspects. So we can check to see if the technical things are going right.

Serge) There is a management advisory body because there are times when large amounts of capital are required to be managed. The foundation is not a shareholder there (independent).

What is the specific evidence that the project on the Sebak Mainnet has failed? Also, there is a big difference in PF and details of blockchain OS, but it looks similar in a big frame. I understand that Blockchain OS has been creating a new white paper, so please explain in detail what the other parts are.

Lang) Since faithfulness is important in business, I will not answer blockchain OS. The second question is, “White Paper”. There are two white papers. One is white paper and the other one is a political manifesto. A political declaration is a document that answers various

political questions but does not contain technical details. In the white paper 1.0, there was also an idea to use Commons budget for business, which may have good results if it is well utilized. But White Paper 2.0 only talks about issuing coins. Since the resulting inflation will reduce the value of the coin, it is meaningless to vote (in PF00) such as at least 30% rewards.

Lee) I think there is a need for opinions and functions on many areas related to Congress voting. At least people need these diverse functions to get together to decide the agenda and to vote on it, audit for correct notice, consideration and transparent voting and enforcement. But there was a great shortage in many areas, and what BOSAGORA is pursuing is to fill these gaps. Currently, 1.0 is also presenting a roadmap called “Commons budget.” PF is also an extension of it. But at present, PF has problems as there are many things that have not been specifically decided, such as measures to handle inflation.

The ICO is also a type of contract and a foundation has been created in the accounting situation. The company is in a state of change, but investors can say that the contract has been changed, and there was a discussion with investors to make it new. If people say they broke the contract, would they be willing to refund it?

Kim) The main body of the ICO is not the BlockchainOS. The foundation became the main body and proceeded the ICO. And 75 percent amount of ICO are from abroad. Those who participated abroad do not even know about the existence of BlockchainOS.
Serge) If a foundation is created, no one can own it. The same is true in Korea. If a commercial company owns the foundation, it will be impossible to check and balance, and it will not be able to protect the assets collected by participants.

What happens to Energy Seven Payexpress’ partners?

Kim) It’s true that BlockchainOS invested 500 million won in Payexpress, but that was a pre-sale and not PF. Business relations, including PF, are not part of the Foundation as it has the BlockchainOS

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