The foundation (partnered with IBD Technology) hosted a conference on Monday to update the public on upcoming industry trends while promoting their project and its future plan
- 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, (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.
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
- 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
- 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) Project 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
For more press release information on the TOOL Global, visit www.IBDT.io, or contact Alson/ Lynnette at their respective