A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, WatchUGot, a blockchain-based social challenge platform that facilitates community building through social charity initiatives and rewards participants in the form of exchangeable cryptocurrency capital has arrived.
"Blockchain technology presents amazing solutions to common problems nonprofits may face. A blockchain is a distributed and immutable ledger, everyone who accesses the data technically owns a copy of it, and said data cannot ever be changed once it is appended to the chain. Thus, by its very nature, information on the blockchain is entirely transparent, and unable to be manipulated by an external force or even the institution itself. Nonprofit institutions can leverage this transparent infrastructure to engage donors and increase overall trust in their organization. Particularly for smaller nonprofits without a ubiquitous brand name, a public blockchain-based ledger would ensure accountability and help the organization garner trust directly from the distribution of assets.
Blockchain powered systems can fully circumvent the use of a third party in all transactions including banks, governments, and foreign exchange institutions. For nonprofits, this means that the transfer of money across borders becomes instant and costless. Without a third party mediating and pocketing a cut of the transaction, the full extent of the currency (whether it be a heavyweight cryptocurrency like Bitcoin, or a dollar-pegged stablecoin such as Dai) is transferred to the user. This is really important for international organizations to avoid uncompetitive foreign exchange costs. UK charities, for example, are losing 50 million euros a year in transfer fees and exchange rates. Avoiding centralized banks also serves to mitigate the aforementioned loss of trust in such financial institutions, adding to donor confidence."
With that being said, WatchUGot and WUG tokens provide such a system, by combining aspects of our legacy version and applying a tokenized incentive model with virtual, physical & non-fungible goods (badges/items) to transparently award community participants and charitable organizations.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is WatchUGot?
As depicted above and as indicated in the official whitepaper of WatchUGot, WatchUGot is a blockchain-based social challenge platform that facilitates community building through social charity initiatives and rewards participants in the form of exchangeable cryptocurrency capital.
Furthermore, WatchUGot is an Ethereum based social networking app that provides users with the tools and platform to develop community fundraising campaigns. WatchUGot combined the crowdfunding components of GoFundMe with the social aspects of Facebook and Instagram on a blockchain. WatchUGot allows users to create and participate in fundraising initiatives for meaningful causes, while being rewarded with real cash-value in the form of our WUG tokens. The legacy (non-blockchain) version of WatchUGot is already live and available for download on Google and Apple marketplaces.
In developing WatchUGot, the primary motivation was to develop a platform that would provide users with the tools to develop community-driven charity-initiatives to benefit good causes. WatchUGot also endeavors to provide exposure through social awareness campaigns and educate community members through the direct and practical applications of blockchain based technologies.
About The WatchUGot blockchain
The WatchUGot blockchain environment supports three (3) unique Ethereum utility token standards: One (1) standard ERC-20 (WUG), one standard ERC-20 (RIVL) and one (1) ERC-721 token for use as non-fungible goods. The primary game coin (WUG), incorporates aspects of gamification and the principles of fair-market economics to incentivize community participation. WatchUGot’s Challenge model provides participants with the tools to generate funds for charitable causes while having fun and rewarding users for achieving goals while helping others.
WatchUGot’s new unique gamifying features leverage Ethereum’s ability to mint unique, inflationary tokens as non- fungible (ERC-721) virtual items (similar to cryptokitties). The non-fungible tokens interact directly with WUG (ERC-20) tokens and are designed to compensate individuals for content curation, campaign development, moderation and specific actions (upvoting, meeting fundraising thresholds) by awarding RIVL (ERC-20) and WUG-tokens relative to the amount of content, or participation contributed. These aspects, in conjunction with the WUG monetization model, provide the components necessary to create an innovative fundraising product on a blockchain platform.
Why choose WatchUGot? - As indicated on the official website of WatchUGot .. Basically why WatchUGot stands out.
Like challenges and want to make a difference? Now you can experience the best of both worlds. The WatchUGot platform and WUG token enables you to raise money for a good cause all while having fun with friends, family and followers.
Make your profile and connect with others to create or participate in fun challenges that bring awareness to important causes while rewarding yourself in the process. Keep track of your goals and see the progress of how much you’ve raised throughout each campaign.
WatchUGot bridges the gap of blockchain innovation and charitable crowdfunding. Join our migration to the Ethereum blockchain and be a part of the FIRST social challenge network for blockchain.
How It Works?
Register on WatchUGot & get automatically matched to campaigns based on your interests.
Set goals and invite your friends & followers
Search other campaigns or be automatically matched by WatchUGot with charitable events nearby.
Exchange tokens for other cryptocurrencies or fiat (EUR/USD). Donate your tokens, cash or withdrawal and spend how you want.
About The WatchUGot Token
The Ethereum (ERC-20) WUG token is the official coin for use with the WatchUGot store and game environment. WUG is the primary, native currency for virtual and physical items exchanged on the WatchUGot application. It is also the exclusive currency for donations made toward charitable causes and the only token redeemable for cash-value.
Token Sale Term - According to the official website of WatchUGot
Name: WatchUGot (WUG)
1 WUG = 0.0014 ETH
Fixed Limit: ±8,107,000 USD (76,250 ETH)
Soft Cap: ±875,988 USD (8,239 ETH)
Exchange: 1 ETH = ±710 WUG
Currency: ETH, USD, EUR
Min Purchase: 0.2 ETH / 140 WUG
Starts: January 18 (11:59 PM)
Ends: April 30 (11:59 PM)
Distribution of Tokens and Allocation of Funds
$0.15 - WUG Retail Value
100 million available
40 million Pre-ICO
60 million Tokens ICO
1 billion Tokens Total
25% Reserve Fund
20% Community Grants
10% ICO Participants
15% Charity Reserve
10% WUG Promotions
20% Admin operations
17% Charity Grants
15% Development (R&D)
Blockchain analysis and project development.
Concept development. Corporate and marketing analysis.
Whitepaper development. Gamification strategy and logistics.
Project finalization and corporate restructuring. Pre-sale & ICO structuring.
RIVL token development. WUG ICO phase begins.
ICO initiation and marketing. Wallet integration and closed beta begins.
Open beta completes. QA/C followed by initial launch release.
Meet The Amazing Team
Erman Koc: Founder, CEO
Kevin Moran: Co-founder, President
William Madison: Full-Stack Dev & Distributed Systems Engineer
Kristen Temnyk: Product Requirements Manager
Jessica Segoviano: Operations Manager
Raju Prasad: Web Developer
Ogulcan Gencler: Gamification Design
Nolan Nguyen: Team Analyst
Sukhchain Singh: Senior Project Manager
Jagger Czajka: Team Member
Mehmetcan Gencler: Gamification Design
Vijay Sharma: Senior Android Developer
Ryan Kennedy: Nutrition adviser
William Madison: Adviser
Javier castaneda: Sales Adviser
Elise hastings: Non-Profit Adviser
Brandon gill: Sales Adviser
Check out the whitepaper for more information. Learn more about global donations, through crowd funding events like the Ice Bucket Challenge, which raised over $115 Million on ONE summer.
For more information, please visit:
Bounty thread: https://bitcointalk.org/index.php?topic=5054456.0
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.