The Lifestyle Startup WisePass is Launching an Altcoin
“WisePass is currently entering a growth stage. We are going to launch our ICO May 10 to expand even faster in the Asian markets this year”, said Lam Tran, Co-Founder & CEO.
What is WisePass?
WisePass is a lifestyle membership where people pay for an inexpensive monthly subscription and are entitled to free stuff daily at the highest quality venues in cities across South East Asia. By partnering with each venue, WisePass covers the cost of the goods and services and the members merely shows up and scans using the app on their phone and receives exciting rewards.
“You can access a free set lunch, dinner, free cup of coffee at Starbucks or free bottle of wine, whiskey, gin or rum, and much more at 5-star hotels, restaurants, bars, and clubs. You just need to download the app, sign up and go to the location you want to redeem your free stuff then scan the QR code.”
What WisePass has been doing so far?
WisePass has over 500 members and has driven more than 20,000 visits to partner venues to date. Every month, the app drives more than 1500 visits to the partners and its expected to reach more than 10,000 visits monthly by the end of this year.
“We officially started WisePass in 2016 with bottle service for alcoholic beverages. Since then we’ve expanded into food, coffee, movie tickets — just to name a few and we’re continuing to expand into several other services this year. The transition from a single service provider for drinks into multiple services has been building momentum for a while now. We have been receiving really great feedback since people are always looking for new experiences”, Lam stated.
What is an ICO exactly?
ICO “coins” are essentially digital coupons, tokens issued on an indelible distributed ledger, or blockchain, of the kind that underpins bitcoin, a crypto-currency. That means they can easily be traded, although unlike shares they do not confer ownership rights. […] Investors hope that successful projects will cause tokens’ value to rise.
The referenced value increase is critical to understanding the appeal of ICOs. These are not transactions of love. They are investments made in hopes of quick, strong returns. With security and utility tokens being the predominant options for companies looking to create an ICO, there is great opportunity to modernize and innovate existing methods of payment and investing.
Why WisePass decided to launch an ICO?
Mentioning 2 main reasons for launching the ICO, CEO Lam Tran said, “Firstly, we were funded last year by a VC to expand in the South Asia region. But I believe that an ICOs will help us expand even faster as we want to expand to 7 countries this year and the rest of Asian Pacific in the following year. All the details like getting more people to develop the app, getting more local sales people in the countries where we don’t speak the language, getting more senior people who we can handle the operational requirements globally, are actually really tough. So that is why we doing an ICO”.
“The second reason is that we believe in the blockchain technology. It’s the latest technology along with cryptocurrency which provide really interesting opportunities for us as we are currently working in the real economy with real products and services. We believe that we can attach even more services with blockchain technology and offer a token with real-world utility”, he said.
How will WisePass utilize blockchain techology?
With WisePass adopting a blockchain ledger, partner brands such as Moet-Hennessy will find comfort in the consistent reliable nature of the transaction data recorded. Multiple levels in the supply chain of the HORECA industry will be required to record accurate and fixed data, revolutionizing the poorly designed data capture methods typically used today. Brands will be able to know with complete accuracy who the buyer is, which bottles are most popular, what day, and even the hour their product is most often consumed.
Blockchain will remove as much of the mistake-prone human side of the data input process as possible in favour of smart assets, and direct measurement tools. This also provides a guaranteed, quantifiable ROI to partner brands quickly and across multiple countries and markets. This fits perfectly with the vision of Wisepass — to build a platform that seamlessly makes life easier for users, brands, and marketers.
How will WisePass do the ICO?
CEO Lam Tran also kindly shared some plans about the way WisePass will manage the ICO for the upcoming months.
“We will launch the ICO on the Ethereum network using the protocol ERC20. We are going to go out and meet a lot of people wanting to know more about WisePass even though we have technically been building this model since October 2014. Despite having been around for quite some time, a lot of people still don’t know much about us. We’re happy to go out to join some events, release some articles on the Internet to make sure people can read as much as possible about WisePass. We also want to do a few more live-streams so that we can answer the questions for the people wanting to know more about us”, said Lam.
“The way we’re gonna do it is pretty straightforward. We have decided to launch only one type of cryptocurrency at the moment. We are trying to focus as much as we can in explaining our product first. Different from many other ICOs, our business is something real with real revenue that people can check, download and see how our product works. We will take 4 months to do the ICO because within the next 4 months we are looking for the chance to expand in more countries in Asia”, Lam has stated.
For more information, be sure to check out: http://ico.wisepass.co/
Those interested in keeping up to date with the latest news and information from the team can join the WisePass ICO Telegram discussion at: https://t.me/wisepass