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Taiwan blockchain company BSOS raises over $600 angel funding from NDC

Sat, 04 Apr 2020, 07:32 am UTC

Taiwan blockchain technology company BSOS announced in a press release that it just raised over $1 million in its angel funding.

BSOS received $666,000 from the National Development Council (NDC). Prior to that, the country has been said to be focused more on cryptocurrency as opposed to enterprise blockchains. Daniel Huang, CEO at BSOS, said that the investment from NDC is not only an endorsement from the council for BSOS, but it opens more opportunities because it creates a positive ripple effect for enterprise blockchains.

“We will cooperate on blockchain issues concerning ‘privacy,’ ‘interoperability,’ and microservice structure in 2020,” said Huang.

Huang added that J.P. Morgan has been a strategic partner to BSOS. The blockchain technology company has also acted as the bridge between local developers and international blockchain technology. It even hosted several blockchain tech meetups last year.

BSOS also collaborates with Taipei Fubon Commercial Bank, Cathay Financial Holdings Company, Financial Information Service Company and other large financial institutions for blockchain applications.

“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,” BSOS said in a statement.

Meanwhile, NDC announced in 2019 that it was setting up a blockchain alliance. The agency already held consultations with a number of government departments as well as experts and academics to discuss the mission of the alliance which was expected to be established three months from the announcement.

NDC also called upon the central and local governments to work towards building a “smart government” that would involve applying innovative technology so that the government services could address the needs of the people.

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