DeFi + Green Finance - BSOS Pioneers Taiwan's First DeFi Real-World Adoption Model
Sep 14, 2023
yahoo! finance
Supply Chain Finance

Singapore, September 15, 2023 - TOKEN2049, the world's largest Web3 event, is currently taking place in Singapore, attracting participation from top global blockchain experts, investors, and innovators. One of the highly anticipated events is the RWA Insights & Networking, with over 1200 registered participants. This event is jointly organized by Centrifuge, a leader in the RWA DeFi space, the prominent US project Huma Finance, and Taiwan's BSOS. During this event, BSOS announced their collaboration with Huma Finance and jointly unveiled a practical case of DeFi + Green Finance. This marks not only Taiwan's first RWA DeFi instance but also signifies Web3's ability to integrate with real-world industries, contributing to global sustainability.


BSOS, a blockchain technology company with over 5 years of history, has weathered multiple waves in the blockchain industry, always focusing on how to create value for real-world industries, particularly in supply chain liquidity. Huma Finance, founded by former Meta Product Lead and Google Engineering Director, won the first prize at ETHDenver last year. Their protocol allows users to borrow from the Web3 world based on "Provable Future Income," such as accounts receivable, termed as Income-backed DeFi.

In this case, the enterprise is ChargeSmith, a Taiwanese electric vehicle charging service provider. Their business model involves setting up charging stations in various parking lots, charging fees to electric vehicle owners, and recovering the cost of each charging station on average within a year. To accelerate the expansion of charging stations and gain a competitive edge in the market, ChargeSmith requires funding.

In this case, BSOS leverages its technology platform to automatically upload IoT data from ChargeSmith's charging stations daily, including operational status, power generation, charging revenue, utilization rates, and more. At the same time, they also gain co-custody of ChargeSmith's bank receipt accounts. Ultimately, BSOS matches the borrowing demand to Huma's DeFi lending protocol, and ChargeSmith borrows USD stablecoins from Huma's liquidity pool, which is provided by qualified investors. Huma's protocol investors can precisely assess the borrower's operations based on on-chain IoT data, making borrowing more secure and reliable. Through this mechanism, ChargeSmith aims to achieve its goal of expanding 400 charging stations within a year, driving rapid growth.

Daniel Huang, CEO of BSOS, said, "This is an end-to-end all-digital ecosystem: IoT device-native data is uploaded without manual processing, governed by smart contracts, and eventually lent out in digital-format USD stablecoins. We see remarkable potential for blockchain in terms of efficiency, transparency, and globalization. BSOS is honored to help Taiwanese enterprises enter the Web3 world, and we look forward to providing more value to customers and partners through these collaborations while promoting a more sustainable future."


"Our world is in a climate crisis. We are happy that our partnership with BSOS supports the rapid expansion of green transportation and utilizes blockchain to benefit every living being," says Erbil Karaman, CEO and Co-founder at Huma Finance.

"Two years ago, most financial professionals still considered cryptocurrencies as a wildly volatile asset class, but now we see cases of cooperation like BSOS and Huma Finance bringing value to the real world. A Boston Consulting Group report suggests that by 2030, the market for tokenized real-world assets is expected to surge to $16 trillion. Tokenization of real-world assets is one of the most important tracks in Web3, and the future developments are highly anticipated!" added Colin, Director of Business at Centrifuge.

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