Korean Government-backed HOOXI WPG Campaign Launches into Blockchain
W Green Pay (WGP) is the upcoming greenhouse gas (GHG) reduction campaign behind HOOXI, which is backed by the Korean government. It is using an innovative way of encouraging individuals to help reduce GHG, which is a different approach, with the responsibility of environmental conservation shifting from governments and corporations to individuals.
HOOXI is a campaign supported by the Korean government to compensate people for reducing Greenhouse Gases (GHG). The campaign is venturing into adopting the blockchain technology, which is majorly aimed at assisting to tokenize the reward system as well as facilitate the on-going delivery of tokens to individuals.
About the W-Foundation
W-Foundation, founded in 2012 as a non-profit organization, has been designated as a donation organization under the Korean Strategy and Finance Ministry, being the charitable organization behind the HOOXI campaign. The conservation of the environment is no longer the duty of governments and corporations alone, but individuals can also actively take part.
This has been made possible through HOOXI mobile application, whereby social media savvy individuals can collect WGP tokens through simple ways like using public transport or buying identified eco-friendly products. People who are familiar with the campaign will be involved in improving the HOOXI application features to identify better ways to reduce greenhouse gases.
According to Youree Lee, the CEO of W-Foundation, the efforts of making this a better world will transcend both governmental and corporate organizations, especially when the initiative is rolled out all over the globe. This will go a long way in ensuring that the environment is conserved all over the world.
Through the HOOXI application, individuals will be able to easily set up accounts and record their contributions towards the reduction of greenhouse gases. Research indicates that by 2020, 70% of the global population will be using smartphones, making it possible for governments to directly reward participants in the campaign.
W- Foundation Reward System
Additionally, the fact that individuals, through their smartphones, will be able to log in and approve their actions on the application will go a long way in assisting people to complete their choice of greenhouse gases reduction missions awarded with mission points. Consequently, these missions can eventually be accumulated and later exchanged for WGP tokens.
It is worth noting that once an individual has received his or her WGP tokens, they can be used on retail stores such as Lotte Homeshopping which are working in partnership with the W-Foundation. These tokens can also be utilized as credit card payback system with major commercial banks.
Individuals who use credit cards will additionally be in a position to earn WGP tokens by making use of the selected credit cards at businesses which are in partnership with WGP. In this way, for the very first time, individuals will be directly granted incentives and rewarded right away to ensure that this becomes a better world by reducing greenhouse gases by simple daily activities.