Introducing WOOOBux

(Ticker: WBX)

To encourage people to play sports in order to live a more active healthier life, World One-On-One Basketball Association (“WOOOBA” or the “Company”offers an application (the “App” or “Ecosystem”) where the billions of grassroot sports players across the globe can connect, plan and facilitate pickup games, tournaments or leagues (collectively, “Sporting Activities”), and earn rewards through participation in these Sporting Activities.

To help carry out this social mission, the Company will use WOOOBux (“WBX”) as the native utility token of the Ecosystem.

With the introduction of WBX and the easeofuse associated therewith as well as the rewards paid out for participation in the Sporting Activities, we believe that WOOOBA is uniquely positioned to effectuate a positive change. We also believe that to truly set a positive standard requires being a good corporate citizen; accordingly, 1% of all WBX sold will be donated to sports charities.

The WOOOBA App

Leveraging WOOOBA’s application program interface (“API”), the App effortlessly functions on Blockpool’s Delegated Proof-Of-Stake (DPOS) blockchain as a rewarddriven app that uniquely and practically solves offline sociability problems for grassroots sports players all over the world.  WOOOBA provides a platform where players can create free user profiles in order to connect with other players, and/or to invite or challenge other players to participate in Sporting Activities. When online, players are visible and can be connected, allowing them to organise Sporting Activities without a flurry of emails. The App also allows clubs, organisations and brands to sign up, creating a unique ecosystem where both players and entities can reward others—and be rewarded—for participation.  Each user profile comes with a handy WOOOBA Wallet that can hold both WBX and fiat currencies.  In the world of pickup games, whether indoor or outdoor, usually one player is the main organiser who books and pays for the court or pitch, resulting in him or her having to actively seek reimbursement from peers. Now, the organiser can be reimbursed—automatically and without hassle—using the WOOOBA wallet.  Also, the TopUp function of the WOOOBA Wallet acts as the perfect means to add/purchase WBX for use in the Ecosystem or for parents to treat their children to some allowance for playing sports. In addition to rewards for participation, the App will also have a geo-mapping feature called “Rewards Zone, powered by Google Maps that anyone can easily use to reward others for playing sports or performing a locationbased physical activity.

We believe that applying a Wallet as a rewards vehicle to grassroots players in order to encourage active, real sports play is an ideal conduit to enable brands to engage with and inspire users on a far deeper level than traditional channels. We have thoughtfully designed this “grassroots sponsorship” approach because, as the world of mobile devices exponentially grows the access, impulsive call-to-actions and tactile excitement for daily sports engagement creates the ultimate opportunity to empower us all. As of right now, the App is available for download in Apple’s App Store, and shortly, the App will also be available for download in Google’s Play(for Android-powered phones).

WE’RE ON A MISSION TO HELP THE WORLD

PLAY MORE SPORT

 

WOOOBA, already having delivered a bestinclass basketball product, islaunching a new and improved fully responsive basketball platform, and added its football (soccer) platform in 2018 Q4. The current structure of the Ecosystem is perfect for a tokenized payment system with WBX as the platform’s native utility token. Operating on Blockpool’s DPOS blockchain, the platform is very flexible and delivers practical financial benefits as well as new and everexpanding creative initiatives. This has placed WOOOBA as a leading innovator in helping people play for health, rewards, and community value.

WBX Reward System

Directly Dispersed Reward

 

Organisations, schools or individuals can purchase WBX to be used as rewards for the intended users to pay for the Sporting Acitivities, encouraging them to play more sports.

 

Participation Based Reward

 

Instead of a direct distribution, participationbased rewards will add goals such as location/distance or time, meaning players need to be at a specific location or spend a period of time as a location to redeem the reward.

 

Sponsor Zone Reward

 

Brands will be able to reward users for subscribing to them as the sponsor, which allows the brand to prominently display its logo on the player’s user profile. Rewards can be dispersed weekly, monthly or yearly. Brands may also choose to utilise different rewards. Finally, WBX will also be able to be used for online shopping discounts and payments.

Distributor & Receiver

 

Brands              ⇒ Consumers/Players
Organizations ⇒ Members
Schools             ⇒ Students
Companies      ⇒ Employees
Parents             ⇒ Children
Court Owner   ⇒ Customers

Currently, anyone can purchase WBX with both fiat currency and certain other cryptocurrencies either via web (http://woooba.com, http://wooobalab.com or the iOS App, http://wooobux.io/hoops) . When available on an exchange, WBX can be paid out into cryptocurrency, then converted into standard currency.

Distributors will be able to set up the specifics of rewards, such as the amount of each reward, the number of rewards and time/location goals. Users can see what rewards are available on the map, and must enter the Reward Zone to collect rewards:

 

User can see what rewards are available on the map. They must then enter the reward zone to collect location based rewards:

 

 

Example 1

 

A sports brand such as Adidas may create a WOOOBA profile, purchase 100,000 WBX to disperse to 1,000 Wimbledon students to incentivise them into more grassroots sports. Each student could receive 100 WBX in his/her WOOOBA wallet to use towards paying for extracurricular games. WBX ticks the box for Adidas’s Corporate Social Responsibility & Marketing goals.

Example 2

 

Wellness companies such as Vitality Health may create a profile on WOOOBA, purchase 2,000,000 WBX using its WOOOBA wallet, then invite 10,000 people from their email database to a free event or game to draw them into more grassroots play. Each person who signs up and then shows up to the event could get 200 WBX automatically added his/her WOOOBA wallet.  WBX distribution strategy enhances a unique Vitality Health Corporate Social Responsibility approach to growing grassroots sports, increasing physical activity in the community and boosts marketing power.

Example 3

 

Jake’s mom buys 1,000 WBX for her family of five to drop into their WOOOBA wallets to pay and play grassroots games. She gives 250 WBX to each child, 150 WBX to dad, and keeps 150 WBX for herself. It pushes everyone in the house to get out and play a couple of times that month. She then adds another goal, to the childrens Wallets, that earns them 200 WBX bonus each, if they play one extra match or practice every month; a smart contract made simple for the general consumer. This helps everyone in the family get more practise time, matches and exercise.

Example 4

 

Puma could purchase 100,000 WBX for a local basketball club to distribute as rewards. Puma could offer 100 WBX as reward to each of the first 1,000 players who spend 1 hour or more at chosen courts at various sports halls. Puma’s support to sports clubs could become a regular, transparent corporate social responsibilityfitness initiative.

Example 5

 

Different brands could reward players with WBX for a period of time for subscribing to the brand’s challenges. For example, Nike could reward subscribing players weekly, monthly and yearly, whilst sending players a variety of challenges. Members could apply a portion of the WBX to receive discounts on Nike products, but then use the rest of the WBX as they wish (keep as WBX for later consumption or convert to Bitcoin/Litecoin/Dash or fiat).

Delegates

 

The delegate system is very flexible and can provide a highly profitable way to develop projects in a controlled and predictable manner.

For example running the numbers based on the figures in this whitepaper, we can insert metrics to show us the potential value of forged tokens post TEC.

With a fixed block reward of 10 coins/tokens and 15 second block times, an additional 21.024 million coins would be forged each year. If the initial value of 10 cents were maintained this would result in just over an additional $2 million value generated by all the delegates combined each year. ($2.1024m).

The figures can be adjusted according to the specifications thus are presented as an indication of value only. Other values can be added to the online tool to show variations on these metrics.

BLOCKPOOL BPL Sidechain Value

We have established that the ecosystem to support these projects can provide substantial rewards for coins/tokens that have value and purpose. Some currencies (e.g Bitcoin) have very limited value over and above a monetary transactional system.  One of the ideal uses of Blockpool technology is the ability to develop smart contracts, sidechains and myriad creative initiatives that add value to each project and consequently increase value in the coins/tokens.

Technology Provided With Project

 

1. Blockchain

The underlying technology behind all cryptocurrencies

2. Web app based wallet

Allows access to WBX with zero technology knowledge

3.  Delegate Forging Pools

Allows non-technical people to gain portions of WBX easily through scaled rewards.

4. Desktop Local Wallet

Allows a completely secure, unhackable, offline wallet to be created

  • Windows wallet
  • Mac wallet
  • Linux wallet

5. Blockchain explorer

Used to verify payments and examine the blockchain

6. BiT API functionality

Blockpool backend platform to drive blockchain functionality.

7. MyBlockpool integration with WOOOBA platform

Connecting the backends API’s of Blockpool and WOOOBA.

8. Delegate monitor app

iOS and Android

9. Delegate infrastructure

Creation of the original 51 WOOOBux Delegates and any further community delegates.

10. Delegate reserve for network stability

Queuing system for delegates.

Technical Considerations

 

Cryptocurrencies often have relatively low coin numbers. For instance, Bitcoin only has a maximum of 21 million coins. What this means is that the whole coins tend to have a large value and thus real world transactions for small amounts of money tend to appear as an odd sum. Some blockchains have 10-50 billion coins and so it is really important to consider end use cases before deciding on the initial coin supply of the genesis block. For instance, if you bought your breakfast with bitcoin at the moment, paying 0.00069 bitcoin would be a little bit confusing.  However, for example, a football or basketball player paying back his peer for a game at a rented sports venue (that the peer had prepaid) would be on average about 100 WBX ($10). Accordingly, WOOOBA will launch WBX under these parameters:

Initial Token Supply = 100 Million.

15% reserved for roadmap development

30% reserved for brand initiatives

52% available through TEC

   2% will be used for bounties and rewards.

   1% will be donated to sports charities.

For a TEC with a fixed price per token of 10 cents this would gross approx. £7.2 million (less any possible discounts). 

Additional tokens/coins are forged by ‘delegates’ who stabilise and secure the network. The number of delegates can be 51, 101 or 201. Blockpool allow these delegates to be hosted by the client (or alternatively provide the option of a secure infrastructure to maintain delegate nodes on behalf of the client).

Suggested Technical Specification

 

Name of coin: WOOOBux
Ticker: WBX

Initial Coin Supply: 100 million

Algorithm: Delegated Proof Of Stake (DPOS)

Block Rewards: 10 coins per block

Block times: 15 seconds

Delegates: 51

Distribution: TEC plus Forging & Creative Initiatives