BlockchainOS, a South Korean blockchain startup, has announced that it will officially launch digital currency BOScoin, which it describes to be an improved version of existing cryptocurrencies such as bitcoin and ether, Pulse News reported.

To be launched in February 2017, BOScoin will be South Korea’s first digital currency based on blockchain system.

BlockchainOS says that it has fixed the limitations of existing digital currencies. It claims to have accelerated transaction speed to the level of credit cards processing, enabling BOScoin to deal with 1,000 transactions per second. 

According to Pulse News, BOScoin is now on pre-sale for domestic investors and will be ready to test the global market in 2017. In addition, the startup will release applications that will facilitate the use of BOScoin as a real currency.

"With the launch of BOScoin, Korea will be able to challenge the world's encryption money market and be recognized," said Park Chang-ki, CEO of the Blockchain OS, (loosely translated from DataNet). "The technology of the domestic block chain has reached a considerable level."