BOSCoin CEO Yezune Choi responds to a question during an interview in Seoul, last week. / Courtesy of M&K PR



By Kim Yoo-chul



Blockchain technology is something new but it is definitely promising and has huge growth potential on multiple fronts with companies dedicating themselves to it.



Facebook and Samsung, for example, have recently created teams to study how the blockchain technology behind bitcoin, the most popular cryptocurrency, could be used in developing new products.



A few other options are also being explored. The project financing industry is one example that could benefit from distributed ledgers, as well, with BOSCoin CEO Yezune Choi pushing hard to bring credit and blockchain together in the years to come.



While it's true that there's been a lot of buzz about the pros- and cons- of blockchain in the digital currency community, Choi claims public blockchains are an appropriate application of the protocol in terms of the creation of a relevant ecosystem.



A public blockchain is basically the model used by bitcoin, ethereum and litecoin, and could be regarded as the original distributed ledger structure. The technology can receive and send transactions from anybody in the world. They could also be audited by anybody, and every node has as much transmission power as any other.



