Recently, the digital currency market has been falling down in a panic. Unreliable projects can no longer get resources out of the market. On the contrary, those teams with strength and technology are getting more and more attention and becoming more prominent in the industry. Such is the presence of Chinese blockchain giant BUMO.
Instead of slowing down business in the bear market, the BUMO team has recently shifted its focus to South Korea. BUMO has reached a strategic cooperation with SPIN, a well-known blockchain project in South Korea, to provide strategic consulting on business blockchain transformation and one-stop blockchain technology solution services, and will use BU (digital currency issued by BUMO) to invest in SPIN and establish a strong binding strategic partnership.
SPIN is a blockchain project built by Womanstalk, the first video e-commerce platform in South Korea. In the three years since its founding, Womanstalk has raised 14 billion won from 11 venture capital funds through two rounds of fundraising. The number of monthly active users of the platform has reached 1.5 million, covering 210,000 SKU and over 1,700 brands, and it is growing at a high speed of more than twice a year with a promising prospect.
As one of the most developed countries in the entertainment industry, South Korea’s web celebrity economy is also very prosperous. However, there are many problems in this industry. For example, the cooperation between the brand side/product side and KOL (influential network celebrity) has always been centralized, and there are many intermediaries to help match, which leads to serious information asymmetry and unbalanced benefit distribution, resulting in the damage of both interests.
Detailed explanation of SPIN’s business form
SPIN hopes to use blockchain to solve various pain points of web celebrity economy, eliminate intermediaries that hinder web celebrity economy’s transparency, credibility and fair competition, and provide brand side/product side and KOL with data visualization, benefit sharing trust, and new business ecological tools to greatly improve transaction efficiency. SPIN is not only limited to commercial promotion, but can support real sales activities and accumulate sales data to benefit both parties.
BUMO’s technological advantages
This time SPIN chose BUMO as one of the public chain of the new business ecosystem, more based on technology and solutions. If a public chain system is developed based on Ethereum or EOS, it usually takes five professional blockchain technicians’ months to complete the development and testing of the whole system, and there are great security risks. After using BUMO, you only need two or three people to complete all the development tasks in about two weeks, which greatly improves the speed of business launch. In addition, BUMO also provides consulting services for end-to-end blockchain transformation solutions, helping SPIN to think deeply and prepare from the perspective of business architecture, technology architecture, and so on, further eliminating business risks.
As China block in the field of chain and chain top project, BUMO done in more than 60 projects not only in the domestic business, covering millions of high-quality people, and plans in Q4 this year big chain layout blocks overseas markets, block chain of ecological system, creating a global strategic cooperation with SPIN is the important beginning of the technology out to sea. It is believed that with the rapid expansion of its global business, BUMO will serve more international projects like SPIN and become a more international business link.