Cryptocurrency token that can be used as points of retail stores will be introduced shortly.
According to industries on the 8th, Berith, which specializes in blockchain, is going to end presale of Berith Coin and carry out ICO (Initial Coin Offering) on the 11th. It is planning to list itself during the second half of this year.
Berith Coin is the first South Korean cryptocurrency based on membership. It has real values by attracting restaurant businesses to its private blockchain network. It has shown that cryptocurrency can be used in daily lives.
Berith exchanges Bitcoin and Ethereum into ‘Berith Coin’ that can be actually used. One can pay Berith Coin at retail stores and exchange it into different cryptocurrency through accumulated points.
Berith signed a MOU (Memorandum of Understanding) with Korea Food Service Industry Association and Gyeryong Food Industry Association and it is planning to expand its business towards small retail stores in the future.
Berith also provides services such as ‘Smart Contract’-based preorders, delivery, and dealing of used goods.
Berith platform is composed of Berith Coin, Berith Wallet, and Berith Pay, which will be introduced at the end of this month.
Berith Wallet is linked to stable exchanges such as Bithumb and Korbit and provides a service that checks a list of ICOs. Although it is only able to store Berith Coin, Bitcoin, and Ethereum at the moment, it will be able to store Quantum and EOS in the future.
To prepare for cases when cryptocurrency holders suddenly pass away, Berith also provides private keys and IDs and a service that can restore passwords. Families of the deceased can inherit cryptocurrencies of the deceased just by submitting necessary documents.
P2P (Peer to Peer) transaction of cryptocurrencies is possible through Berith Pay. Berith Pay can settle cryptocurrencies offline if it is able to recognize a QR code or a barcode.
“While Bit Pay can only settle Bitcoin, Berith Pay can setle various cryptocurrencies besides Berith Coin.” said a representative for Berith. “Our goal is to establish a platform where actual settlements are possible through cryptocurrencies.”
Staff Reporter Ham, Jihyun | goham@etnews.com