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BSOS, a Taiwan blockchain technology company, raises over $1 million

BSOSTaiwan blockchain technology company BSOS announced the closure of over $1 million in its angel funding round which included $666,000 from the National Development Council. Priorly, Taiwan has been said to be focused more on cryptocurrency as opposed to enterprise blockchains. Daniel Huang, CEO, BSOS, stated that the business angel investment from the National Development Council is not only an endorsement from the council for BSOS but also creates a positive ripple effect for enterprise blockchains.

Daniel stated that J.P. Morgan has been a strategic partner to BSOS, saying that, ”We will cooperate on blockchain issues concerning ‘privacy,’ ‘interoperability,’ and micro service structure in 2020.” The blockchain technology company has acted as the bridge between local developers and international blockchain technology, hosting several blockchain tech meetups last year.

The company presently collaborates with Taipei Fubon Commercial Bank, Cathay Financial Holdings Company, Financial Information Service Company and other large financial institutions to apply blockchains in practical situations. In a statement, BSOS mentioned, “…BFSI (banking, financial services and insurance) still remains the most intuitive application scenario for blockchains, accounting for 40% of blockchain projects worldwide. BSOS is especially positive towards applying blockchain to supply chain finance and will be launching related services and products in 2020.

“BSOS’s core products and services can solve authentication problems on financial data while cutting costs, helping financial institutions conduct risk checks at all levels.”

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