What is the Cryptocurrency Wowbit (WWB)? Intro to its Features
There is a cryptocurrency called Wowbit that made headlines in Japan for a period of time. This is a project carried out by the subsidiary of “OKWEB,” which is listed on the Tokyo Stock Exchange in Japan. I will introduce you to this cryptocurrency.
Wowbit is a cryptocurrency developed on the NEO platform that has been developed to express gratitude and emotion in the form of donating money in order to visualize emotion. Developed under the initiative of Wowoo, a subsidiary of OKWAVE based in Singapore, it became a well-known topic in Japan last year. In addition, they support ICOs through the Wowoo platform and are developing multi-faceted services such as planning the opening of exchanges.
As OKWAVE is a company with a proven track record as it is listed on the first section of the TSE, it seems that it is putting emphasis on marketing with having Roger Ver as an adviser and having requested a number of affiliates promote the project. At the time of Wowbit’s ICO, they have achieved the feat of raising 50 billion Yen in total of cryptocurrency.
As of February 22, 2019, according to the market capitalization ranking on CoinmarketCap, it is ranked 68th.
For currency price, please see below:
NEO based cryptocurrency
Wowbit is a cryptocurrency developed using the NEO cryptocurrency platform. NEO can create Dapps and cryptocurrencies similar to Ethereum, but it has a major feature that it can process transactions in excess of 1,000 tx’s per second and can be developed in multiple programming languages.
More detailed NEO information is summarized below.
What is the crypto asset NEO? Intro to its features
Wowbit also possesses the role of voting rights to decide things on the Wowoo platform. Of course, the administration changes the rules and the system, but if there is a demand or change for it, you can exercise the right to speak out by voting using your Wowbit. This is acceptable if 2/3 of the token holders agree. It is hoped that this will lead to transparent platform operation where democratic voices are easy to pass decision making.
OKWAVE is the parent company
OKWAVE is a service operated by Ok Wave Co., Ltd., established in Japan in 1999, and is partially listed on the TSE. They have partnered with Rakuten and Microsoft and other companies, and the number of members subscribed for their services exceeds 3 million. I believe that the company has gained credibility because it has cleared strict standards and has been listed on the TSE, and it has been accepted as a positive factor from the expectation of entering the blockchain industry.
Adviser Roger Ver
Roger Ver is an American-based angel investor who moved to Japan in 2006. He has invested in many Bitcoin related businesses from a very early stage since 2011, and has earned the nickname ‘Bitcoin Jesus’ from those achievements. Roger Ver seems to have become sympathetic to Wowbit’s mechanism as evidenced through his appointment as an adviser.
The current status of Wowbit
The current price is about 1 WWB = about 2 Yen. The pre-sale price 1 WWB = 102 yen, and the current situation is that those who have invested 1 million Yen at the pre-sale, their investment is now worth 20,000 Yen. The Japanese Yen-denominated price is falling almost every day, but six projects have already launched on Wowbit’s ICO platform “Wowoo.” The tokens created in these projects appear to be listed within the Wowoo Exchange, which will be launched in the first quarter of 2019.
OKWAVE has been active in promoting transactions and supporting operations using cryptocurrency such as with the establishment of “OKfic” to develop blockchains, provide translation services for ICOs, acquire companies that handle securities, and provide exchange applications in Japan. I feel that the prospects and continuity as a company seems bright, but I am very worried because I don’t get the impression that Wowbit serves a purpose as a necessary lubricant in the blockchain space.
The main cryptocurrency exchanges to trade Wowbit
Wowbit’s official information
Wowbit White Paper