Online bookstore Yes24 is taking one step deeper in the blockchain and crypto-currency market.
Yes24 said today that it has signed a MOU (memorandum of understanding) with Israel-based blockchain platform provider Orbs to cooperate to develop a blockchain main net.
The announcement comes on the footstep of its issuance of crypto-currency token ‘sey’, demonstrating the company’s strong intention to diversify its business line into the yet uncharted crypto-currency market.
Under the terms of the agreement, both of the companies will jointly embark on the development projects of a digital contents-dedicated blockchain main net, which will shape up as a main platform to create its own ‘sey’ ecosystem.
In a bid to speed up the penetration of digital contents, Yes24 issued Ethereum ERC-20-based crypto-currency ‘sey’ in August 2018 and then has mainly book authors and readers use the crypto coins on its digital contents platform ‘shiftbooks.yes24.com.
To accelerate the commercial use of the ‘sey’ tokens as a digital currency to buy movie premier or musical theater tickets and join a lottery or draw for gift vouchers, the company also opened a dedicated token mall ‘seymall.yes24.com’ in November.
Orbs is a R&D subsidiary of Israel’s blockchain-dedicated Hexa Group that offers a hybrid blockchain platform.
Kim Seok Hwan, CEO with Yes24 said, “With the launch of the blokchain main net, we aim to recreate ourselves as an innovative digital contents platform.”