NHN Cloud Joins 'Bosagora' Blockchain Network

Director Lee Ju-young (left) of NHN Cloud GC Division and Lee Sang-hoon, CMO of Bosagora (right), are posing for a commemorative photo after signing the MOU.

[Asia Economy Reporter Seungjin Lee] NHN Cloud announced on the 11th that it has signed a Memorandum of Understanding (MOU) with the blockchain platform ‘BOSAGORA (hereinafter Bosagora)’ to expand the use of the blockchain network and activate business.

Bosagora is a decentralized public blockchain platform company that can implement a democratic decision-making process based on its self-developed ‘Council Network.’ It completed its Initial Coin Offering (ICO) in South Korea in 2017.

Through this agreement, both companies will promote ▲expansion of the use of the Bosagora blockchain network and virtual assets ▲mutual efforts to activate key businesses ▲expansion of technical cooperation in the blockchain field.

With Bosagora joining the blockchain network, NHN Cloud plans to provide the NHN Cloud platform within the Bosagora blockchain network to increase the utilization of NHN Cloud infrastructure by partner companies. To this end, NHN Cloud will offer discounts on service fees to partner companies.

Additionally, NHN Cloud and Bosagora will cooperate to share the capabilities they have accumulated so far to revitalize the blockchain ecosystem. For this purpose, they will exchange infrastructure information and public-private cooperation networks and proceed with business cooperation with various users of the Bosagora network.

Bosagora stated, “We are pleased to establish a partnership with the global IT company NHN Cloud,” and added, “We plan to build an environment where Biznet participating companies can provide services more stably and efficiently through cooperation with various companies possessing expertise and know-how.”

NHN Cloud said, “It is meaningful to cooperate with Bosagora, which is leading the activation of the domestic blockchain token economy,” and added, “NHN Cloud will continue to provide research and development-friendly cloud infrastructure to various blockchain-based partners and contribute to the revitalization of the blockchain ecosystem.”