It was only a few weeks ago that YES24, Korea’s largest online bookstore, announced the launch of sey Chain, the retail giant’s private blockchain and token. The project was built on the technology underlying the Orbs network and will be used for various purposes within the company’s ecosystem, from the purchasing of items and tickets to incentivizing rewards for authors and artists. Yes24 has been a publicly-traded company on KOSDAQ since 2008. As Korea’s largest online bookstore and a market leader since its launch back in 1999, it was a first of its kind from its very beginning, and ever since has maintained its leadership nationwide. In addition to books, which have been sold on the platform since its conception, the website provides a wide array of additional products such as concert and movie tickets, stationery, etc.
The launch of sey Chain is just a first and arguably most important step of building the company’s new ecosystem: The broader vision is to create a consortium of YES24’s partner companies in the space and work together to develop better e-learning and e-commerce opportunities. By using the Sey Coin, readers can now reward and be rewarded based on their support and ranking within the new ecosystem. In addition, the coin may be used to purchase concert and movie tickets, as well as other goods on Seycoin mall.
In recent months, the Orbs team has been putting substantial efforts in East Asia, highlighting Korea and especially Korean enterprises. This exciting announcement is the latest to highlight the network’s production capabilities, resilience, scalability, and universality for corporate-grade applications.