W-Foundation and Actwo Technologies partner to inject real economy into blockchain, bringing it to the mainstream
Using W Green Pay (WGP) token to purchase HOOXI water on the HOOXI app
W-Foundation and Actwo Technologies are cooperating closely to launch innovative services that address the growing criticism of the blockchain industry, specifically regarding the poverty of real use cases since the launch of many high-profile projects.
Youree Lee, CEO of W-Foundation, and Ash Han, the Founder of Actwo Technologies, which runs the GDAC Exchange, commented that “this partnership will bring blockchain into the mainstream by combining the strengths of the two teams, one with an 8-year track record of global environmental activism, including a cooperative relationship with the UNFCCC (United Nations Framework Convention on Climate Change), and the other with a deep technical knowhow of the blockchain technology.”
The two organizations share the view that in order to assure the further growth and relevance of the blockchain industry, many diverse and strong projects have to successfully enter and execute the implementation phases of their projects. Lee and Han emphasized that W Green Pay (WGP), which is the native reward system for HOOXI app, is in fact the project that can play such a role.
HOOXI app is the mobile app platform that supports HOOXI campaign, W-Foundation’s campaign to mobilize the general public to reduce GHG (greenhouse gases) emissions and mitigate climate change.
Ash Han of Actwo Technologies and Youree Lee of W-Foundation, holding up bottles of HOOXI water that can be purchased with WGP.
Despite the bear market prevailing at the time, the team decided to list WGP tokens on the GDAC Exchange as WGP’s first ever KRW (Korean Won) trading pair market. As of Dec 31st 2018, WGP recorded GDAC Exchange’s highest trading volume after Bitcoin, supported by robust market liquidity for WGP and a growing expectation for the roll-out of value-add services based on the utility of WGP.
HOOXI app, which was launched as an open beta release on Dec 5th, has since been downloaded globally over 100,000 times in Google Play Store and Apple App Store, ranking 3rd and 4th respectively.
Appealing to the masses
W-Foundation’s focus is to incentivize as broad a cross-section of the general public as possible to participate in activities that reduce GHG emissions. As a result, the foundation’s approach has been to create an accessible, easy-to-use and scalable mobile SNS (social network service) that would attract a sizable user base. WGP token’s value proposition is also being presented to the public as a composite of performance-based points, gift card and membership systems, all of which are concepts that are familiar to the public. W-Foundation’s widely shared plan is to build a large user base on the HOOXI platform and work with technology partners to migrate the service into blockchain-based philanthropic, public service platform. Lee and Han shared that a number of blockchain industry veterans with close knowledge of the project have voiced support for the realistic and practical approach taken to implement W-Foundation’s blockchain strategy.
Pushing for mass adoption — a growing network of partners
WGP will be the sole settlement currency accepted in HOOXI app’s in-house shopping mall, the HOOXI mall. W-Foundation is continuously working to expand the real use cases for WGP with its growing network of partners.
Additionally, HOOXI mall will launch a limited promotional event from Jan 3rd to 11th, during which it will sell HOOXI water, a premium bottled water from a world-renowned artesian source in Fiji. Each box containing 24 bottles, which normally retails for KRW 50,000, will be sold for 20 WGP. This effectively pegs the value of 1 WGP to KRW 2,500 over the course of the event.
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