Press Release: Stellar to Power W-Foundation’s HOOXI Campaign W Green Pay (WGP) Tokens
W-Foundation partners with Lightyear.io, a software company for the Stellar ecosystem, to implement Stellar as its strategic blockchain partner
UPDATE (29 SEP 2018): W Green Pay tokens have since been switched to be on the Ethereum network as ERC20 tokens.
Singapore, July 24, 2018 — W-Foundation, an international non-profit organization that promotes environmental sustainability, is collaborating with Lightyear.io, a software company that develops applications and infrastructure for the Stellar ecosystem, to implement the Stellar network for the HOOXI campaign. 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 via the HOOXI mobile application. HOOXI campaign is sponsored by Hotel Lotte DFS (Duty Free Shop), Lotte Homeshopping, Philip Morris Korea, among many others.
The partnership for HOOXI campaign and W Green Pay was formalized over a Memorandum of Understanding (MOU), which was signed by Youree Lee, CEO and Co-Founder of W-Foundation, and Brit Yonge, Co-Founder of Lightyear.io.
Through the partnership with Lightyear.io and the HOOXI campaign’s integration of the Stellar network, a distributed, hybrid blockchain that is fully open-source, W-Foundation moves forward to catalyze an environmental social movement that will incentivize the public to take responsibility for their personal carbon footprint, and adopt environmentally friendly behaviours through the usage of innovative blockchain technologies.
“Since its establishment in 2012, W-Foundation has led efforts to conserve nature and to mitigate the effects of climate change worldwide. This partnership with Lightyear.io is the first step to revolutionize the way we pursue environmental sustainability. By integrating the Stellar protocol into our HOOXI app, we can ensure W-Foundation’s W Green Pay (WGP) token distribution process is efficient and ecological, while simultaneously allowing WGP transactions to be made on a universal global payment network,” said Youree Lee, CEO and Co-Founder of W-Foundation.
She added: “W-Foundation decided to work with Stellar as a strategic blockchain partner as its network architecture consumes significantly less energy and electricity as compared to other blockchain platforms. Combined with the lower transaction fees and faster transaction times, Stellar will be able to power high volume of micro transactions on the HOOXI app and provide WGP with the scalability to drive mass market adoption.”
“We are excited about the partnership with W-Foundation, and its efforts to transform the environmental sustainability landscape through the integration of blockchain technology,” said Ella Qiang, Director of Partnerships at Lightyear.io. “This is a great example of how industries can be reinvented and impacted with real outcomes, and we look forward to working with W-Foundation to play an active role in improving the environment.”
Stellar is an open-source financial protocol that connects diverse financial systems across the world, and it will be used by W-Foundation to enable the availability of WGP reward and payment system in the market space.
Ella Qiang further commented: “As Lightyear.io continues to work on supporting global partner integrations and growing the universal global payment network on Stellar, this collaboration will help the organization gain traction in the greater markets. Lightyear.io believes, together with W-Foundation, we can actively engage and foster the community to adopt environmentally friendly actions through the Stellar ecosystem.”
For more information on WGP tokens, visit WGP’s official website (www.wpay.sg).
About W Green Pay
W Green Pay (WGP) is issued to reward general public’s contribution to reducing Greenhouse Gas (GHG) emissions under Korea’s Emissions Trading Scheme market. W Green Pay will be the reward method of HOOXI mobile application for its users’ GHG reduction efforts. For more information, visit www.wpay.sg.
W-Foundation is an international non-profit organization that promotes environmental sustainability. W-Foundation supports the Korean government’s goal to significantly reduce GHG emission. W-Foundation runs nature conservation projects and relief works for climate refugees. W-Foundation cooperates with worldwide governments, organizations, and corporates in areas of research, field investigation, immediate relief, and education. For more information, visit www.gcrfund.org.
Lightyear.io is a software company that develops applications and infrastructure for the Stellar ecosystem. It supports global partner activities, including the commercialization of projects for the Stellar network, a free, open-source financial protocol that connects diverse financial systems. The company, which was was founded by Brit Yonge and Jed McCaleb, cofounder of Stellar.org, is aligned with Stellar.org’s primary mission of creating an open and public financial infrastructure, enabling more access for individuals, lower costs for banks, and more revenue for businesses. For more on Lightyear.io, please visit www.lightyear.io.