Asian Spectator

Business & Finance Asia

The WOLOT Foundation Reveals Comprehensive Business Model of Its TOOL Global Project at Suntec Conference

  • Written by WOLOT Foundation
  • The foundation had partnered up with IBD Technology to pioneer a user/merchant rewards ecosystem project called "TOOL Global".
  • Notable programmes launched in 2018: AC495 community outreach program on Instagram, IBD User Reward Scheme, TOOL Super Node Program, TOOL Social Leaders, partnerships with Ebuycoin and Telegram-based reward app CryCx.
  • Project has already observed huge adoption rates in China, is set to expand in Southeast Asia.
 

SINGAPORE - Media OutReach - January 16, 2019 - The WOLOT Foundation[2], (a partner of IBD Technology, a Singapore-based blockchain tech startup) held an official conference on Monday afternoon in efforts to promote and update the public of changes in their joint project and it's future plans.[1]

The WOLOT Foundation Reveals Comprehensive Business Model of Its TOOL Global Project at Suntec Conference

 

The conference observed an excellent turnout of 80 attendees and started out with talks about the current big data and blockchain development trends in Southeast Asia, presented by prominent figures in China's blockchain industry. Amongst them, the secretary-general of WOLOT Foundation Prof. Patrick Schueffel, envisioned TOOL to be an ecosystem of ecosystems. Associate professor James Pang from National University of Singapore (NUS) also touched on the essentials to evaluating a cryptocurrency's real value. These educational talks then led to comprehensive explanations of TOOL Global's ecosystem, it's business model, and value proposition. Some important updates to note:

 

  • TOOL Global's newly integrated programs (TOOL Super Node Program and TOOL Social Leaders) to launch early 2019.
  • Applications for the TOOL Block Producers (TBP) tier of nodes (housed under the TOOL Super Node Program) will open Mid-February 2019.
  • WOLOT Foundation to welcome Dr. Patrick Schueffel (a prominent advisor in Singapore's blockchain industry) as their secretary-general.
  • Future plans to expand toward ASEAN region via integration of local partnerships and startups into their ecosystem. TOOL Global intends to combine OLO tokens and capital tools like their IPO to help incubate potential unicorns.

 

In a nutshell, TOOL Global's reward/earning schemes were implemented to foster user motivations in storing the OLO token for future appreciation. Users pledge and freeze a required number of OLOs to qualify as community nodes participating in the TOOL Social Leaders (TSL) program, its mission is to create a decentralized community alliance ecosystem. The development of this ecosystem, its maintenance, promotions, and rewards are centered using the OLO token as its main incentive. It's Super Node program, which includes 2 tiers of nodes: TOOL Block Producer (TBP) and the other TOOL Commerce Node (TCN), was introduced to the project's econet to increase stability and security. Registration for the TBP tier is slated to open this Mid-February, before their Macau conference in March.

 

About the TOOL Global Project (by WOLOT Foundation)                         

The TOOL (Global) Projec[3]t is an ecosystem of services which works on a Delegated Proof-of-Stake system where users get rewarded daily based on their level of activity within participating apps and merchants. Advertisers may target their advertisements towards users based on their hobbies, preferences, and reward users global virtual (loyalty) points (BT) for viewing their ads. The ecosystem will benefit users as they enjoy special promotions/discounts from merchants, merchants will benefit from higher customers patronization rates and customer retention rates, and advertisers will benefit from giving ads to users. These in time, will drive demand for the ecosystem's cryptocurrency, OLO.

For business enquiries, please email to bd@WOLOT.io[4]

 

For more press release information on the TOOL Global, visit www.IBDT.io[5], or contact Alson/ Lynnette at their respective details below.

References

  1. ^ Media OutReach (www.media-outreach.com)
  2. ^ WOLOT Foundation (www.ibdt.io)
  3. ^ The TOOL (Global) Projec (ibdt.io)
  4. ^ bd@WOLOT.io (www.media-outreach.com)
  5. ^ www.IBDT.io (www.ibdt.io)

Authors: WOLOT Foundation

Read more http://www.media-outreach.com/release.php/View/7762#Contact

Saudi Arabia Sends Support for China to Fight the New Coronavirus

RIYADH, Saudi Arabia, Feb. 18, 2020 /PRNewswire-AsiaNet/ -- The Kingdom of Saudi Arabia has pledged its full support to combatting Coronavirus (COVID-19) with six joint contracts to provide ...

Dataiku Named a Leader In the Gartner 2020 Magic Quadrant For ...

NEW YORK, Feb. 18, 2020 /PRNewswire-AsiaNet/ -- -- Placement marks Dataiku's fourth consecutive year of inclusion in the report and the first year in the Leaders quadrantToday Dataiku ( http...

Farmcrowdy Acquires Meat Processor, Best Foods L P Ltd

LAGOS, Nigeria, Feb. 17, 2020 /PRNewswire-AsiaNet/ -- - Set to launch Retail Meat Hubs across Nigeria in Q2 2020Farmcrowdy today announced the acquisition of Best Foods (L&P) Limited to ...

Mystifly Announces Launch of New Generation Airline Retailing ...

SINGAPORE, Feb. 17, 2020 /PRNewswire-AsiaNet/ -- Mystifly, the leading Global Airfare Shopping and Retailing Marketplace, announces the launch of their new-generation airline retailing and s...

XCMG Supports the Construction of Multiple Hospital Amid Novel...

XUZHOU, China, Feb. 17, 2020 /PRNewswire-AsiaNet/ -- In response to the recent novel coronavirus outbreak, over 329 XCMG (SZ:000425) products including cranes, excavators, road rollers, load...

Sarine Technologies to Adapt Automated 4Cs Grading to Tiffany ...

HOD HASHARON, Israel, Feb. 17, 2020 /PRNewswire-AsiaNet/ -- Singapore Exchange Mainboard listed, Israeli company Sarine Technologies Ltd ("Sarine") (U77:SI), a worldwide leader in the develo...

Absen Launches Venus LED Series at ISE 2020

SHENZHEN, China, Feb. 17, 2020 /PRNewswire-AsiaNet/ -- Leading global LED manufacturer Absen announced the launch of a new super-lightweight touring solution for rental stagers on the openin...

Samsung's Galaxy Z Flip Sold Out Again after Initial Restock in Singapore

SINGAPORE - Media OutReach - 17 February 2020 - Samsung Electronics Singapore announced that the highly-anticipated, category-bending Galaxy Z Flip which began selling on 14...

Samsung's Galaxy Z Flip Sold Out Again after Initial Restock in Singapore

SINGAPORE - Media OutReach - 17 February 2020 - Samsung Electronics Singapore announced that the highly-anticipated, category-bending Galaxy Z Flip which began selling on 14...

A New Expert Consensus Publication Provides Practical Guidance...

BAD HOMBURG, Germany, Feb. 17, 2020 /PRNewswire-AsiaNet/-- Fresenius Kabi, a global leader in clinical nutrition, announces that the Journal of Parenteral and Enteral Nutrition (JPEN) has re...

Evans Wins, Rovanpera on the Podium with Stunning Drives in the Toyota Yaris WRC

Toyota City, Japan, Feb 17, 2020 - (JCN Newswire) - Elfyn Evans has scored his first victory with the TOYOTA GAZOO Racing World Rally Team following a dominant performance at Rally Sweden i...

2020 Kicks Off in Texas for TOYOTA GAZOO Racing

TOKYO, Feb 17, 2020 - (JCN Newswire) - TOYOTA GAZOO Racing is ready to defend its FIA World Endurance Championship lead this week when the 2019-2020 season resumes with the six-hour Lone St...

Bryan Habana Inducted Into Laureus World Sports Academy

Springbok legend becomes 69th member of Laureus World Sports AcademyBryan inducted ahead of landmark 20th anniversary Laureus Awards in Berlin'I hold the Laureus values very dear to my h...

South Bronx United Win 2020 Laureus Sport for Good Award

New York football programme to be honoured at tomorrow evening's Laureus World Sports Awards in BerlinSouth Bronx United use football to inspire, empower and improve lives of young people...

37th Niwano Peace Prize Awarded to South Korean Zen Master, Ve...

TOKYO, Feb. 17, 2020 /Kyodo JBN-AsiaNet/ -- The Niwano Peace Foundation will award the 37th Niwano Peace Prize to the Venerable Pomnyun, a South Korean Zen master, in recognition of his extr...

tenso, inc. Starts Full Indonesian-language Support for Indust...

TOKYO, Feb. 17, 2020 /Kyodo JBN-AsiaNet/-- -Most Popular Toy Figures and Branded Watches Now Available in Indonesian-tenso, inc. (hereinafter "tenso"), a subsidiary of BEENOS Inc. and operat...

tenso, inc. Starts Full Korean-language Support for Industry's...

TOKYO, Feb. 17, 2020 /Kyodo JBN-AsiaNet/-- -High-fashion Brand Items and Anime Goods: Highest-ranked Items Now Available in Korean-tenso, inc. (hereinafter "tenso"), a subsidiary of BEENOS I...

tenso, inc. Starts Full Thai-language Support for Industry's L...

TOKYO, Feb. 17, 2020 /Kyodo JBN-AsiaNet/-- -Most Popular Toy Figures and Car Parts Now Available in Thai-tenso, inc. (hereinafter "tenso"), a subsidiary of BEENOS Inc. and operator of cross-...

Liam Payne to Perform at 20th Anniversary Laureus World Sports Awards

Laureus Awards Ceremony to be staged at Verti Music Hall in Berlin, on February 17Landmark 20th anniversary Laureus World Sports Awards will celebrate a 'Sport Unites Us' theme 'I've pers...