Korea's Government-Backed HOOXI Campaign Issues W Green Pay (WGP), First Blockchain Enabled Reward System for GHG Reduction by Individuals
W Green Pay (WGP), the blockchain from HOOXI, Korea's government-backed Greenhouse Gas (GHG) reduction campaign, is taking a different tack at encouraging individuals to reduce GHG. While GHG reduction initiatives have been around, HOOXI is the first to directly reward individuals for reducing GHG. HOOXI introduces the first blockchain to help enable the reward system and facilitate the on-going reward distribution to individuals.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180523005643/en/
W-Foundation, an international non-profit organization and a designated donation organization entitled by the Ministry of Strategy and Finance of Korea, is the philanthropic foundation behind the HOOXI campaign. Using the anticipated HOOXI mobile application, individuals can perform GHG reduction missions to collect mission points, which can be exchanged for WGPs.
HOOXI application will track and aggregate individuals’ GHG reduction data, based on which W-Foundation will be allocated National Emission Permit (NEP), carbon emission units traded in the Korean market. Through HOOXI campaign, financial incentives of NEP-based carbon trading will no longer remain the sole domain of corporations and institutions and will be open to individuals.
WGPs can be used in online retail stores partnering with W-Foundation, such as Lotte Homeshopping . WGPs will also be introduced to a credit card payback system with major commercial banks in Korea. Credit card users can earn WGPs by using the selected credit card at WGP-partnered businesses.
"By first targeting individuals in the Korean market where people are social media savvy and familiar with the HOOXI campaign, we will be able to work on the features of HOOXI application for broader global usage and look for ways to motivate diverse groups of people to make changes that reduce greenhouse gases," explains Youree Lee, CEO of W-Foundation. "As the HOOXI application is rolled out globally, we as individuals will have the opportunity to become real stakeholders in making this a better world."
About W Green Pay (WGP , www.wpay.sg )
W Green Pay is issued to reward general public's contribution to reducing GHG (Greenhouse Gas) 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.
About W-Foundation (www.gcrfund.org )
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.
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
SOFTOMOTIVE22.6.2018 17:15 | pressemeddelelse
Softomotive and Accelerate RPA Partner to Help Enterprises Achieve Faster Time to Value from RPA
TX-ASCEND-PERFORMANCE22.6.2018 16:02 | pressemeddelelse
Ascend Performance Materials Announces Price Increase for Intermediate Materials
DELTICOM-AG/MOTO-TYRES.C22.6.2018 15:43 | pressemeddelelse
Different Countries, Different Customs: Get Ready for the Motorbike Holidays with Moto-tyres.co.uk
BOEHRINGER-INGELHEIM22.6.2018 14:02 | pressemeddelelse
Boehringer Ingelheim bolsters biologics research and development with 230 million euro investment in new development center
TX-VIKING-ACQUISITION22.6.2018 13:11 | pressemeddelelse
Announcement by Viking Corp on Tecnotree
TX-HEARTSCIENCES22.6.2018 13:02 | pressemeddelelse
HeartSciences Named “Start-Up to Watch”
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum