DaeHyun Accounting Corporation to Support the HOOXI Campaign as a Strategic Investor and Partner
Singapore, August 6, 2018 — DaeHyun Accounting Corporation, one of the largest accounting firms in Korea, is now the strategic investor and partner of W Green Pay (WGP), a blockchain project by W-Foundation, as part of the HOOXI campaign. This is the first time a major accounting firm from Korea has decided to invest and support a blockchain project.
The HOOXI campaign is a Korea government-backed Greenhouse Gas (GHG) reduction campaign that aims to monitor and reward the efforts of individuals who participate in GHG reduction activities. Upon completion of the activities, the individuals will be awarded WGP tokens — a Stellar token used in the reward system embedded in the HOOXI mobile application (app) that will be launched in October.
Through this strategic partnership, DaeHyun Accounting Corporation will be providing accounting advice to W-Foundation with regard to the operations and distribution of WGP on the HOOXI app. The two organizations will also be working closely together to develop WGP into a global payment and settlement instrument that encompasses a wide range of consumer applications.
Kim Young Soo, the representative public accountant heading DaeHyun Accounting Corporation said: “DaeHyun Accounting Corporation will work closely together with W-Foundation to strengthen the operational transparency and reliability of WGP.”
He added: “We look forward to working with W-Foundation to enhance the usability of the WGP worldwide, so that many people will be incentivized to participate in environmental conservation activities, earn WGP and conveniently utilize WGP in their everyday lives.”
W-Foundation was recently in the news following its partnership announcements with YG Investment (YG Entertainment’s investment arm), and Lightyear.io, a software company that develops applications and infrastructure for the Stellar ecosystem, to implement the Stellar network for the HOOXI campaign.