Wowoo has announced they are officially switching from the Ethereum blockchain to NEO for their upcoming service platform. As a result, they are pushing their Wowbit (WWB) token sale back from February 22nd to a yet to be announced date.
Wowoo is a Singapore based project with a goal of bringing blockchain and cryptocurrency to service operators who have little knowledge of the underlying technology. Services operators will be able to create customisable ‘sibling’ Wowbit tokens for specific applications within their own communities. Wowoo’s concept is to create ‘inspiring value’, and so will decide who can use the Wowoo platform through a council that will evaluate each projects potential to have a positive influence on society.
One of Wowoo’s first partners will be OKwave, which is a public listed company and Japan’s largest online Q&A site with 30 million members. OKwave intend on using the Wowoo platform to create a token that will allow users to be rewarded for providing inspiring and helpful content.
Whilst Wowoo began building their token to Ethereum’s ERC20 token standard, CEO Fujimaru Nichols told Tyler Swope during his NEO Talk interview on January 31st that Wowoo were currently in discussions with NEO on whether the best path forward was to migrate platforms, build their own blockchain, or create a new, flexible solution. Wowoo posted an update on their website today informing the community of their decision.
We have some exciting news which we are proud to share with you today. We have been able to come to agreement in behalf of our community for Wowoo to migrate over to one of the most potential blockchain in the industry, NEO ecosystem, far earlier than we could ever hoped.
Given this exciting development, our team will now undertake the work required to complete migration to the NEO platform, which will include migrating our ERC20 tokens. As you may well be aware, we were due to distribute these tokens via our sale on February 22nd 2018. However, given this tremendous opportunity to accelerate the sophistication Wowoo’s Blockchain technology, we have decided that the best course of action is to postpone the token sale for a short period while we migrate to the new platform. Doing so will enable us to launch our sale confident that we are utilising the very best technology in the world.
Wowoo went on to further explain the reasons for choosing to migrate across to NEO.
We understand that any change in plans or surprises, even if very positive, can cause some anxiety. We apologise for the sudden nature of these developments, and we will endeavour, as we always do, to provide more notice to our Wowoo community in the future. We are however enormously excited to be able to join NEO at this relatively early stage in our project. As well as being a superior Blockchain technology, NEO is simply the most reliable and user-friendly community in the Blockchain space. Furthermore, having had extensive discussions with their team, we believe that NEO shares our own community’s values and that this will lead to a close and prosperous partnership between our companies.
We, like NEO, believe in the Smart Economy. We aim to inspire and develop value – this makes us a fantastic match that we believe will help bring about fundamental changes to our society, for the better. Together with our new partner, will we continue to commit our best efforts to accomplish these goals. We are honoured to work with NEO and on behalf of you, our Wowoo community.
Wowoo have not yet set a new date for the token sale, however details will be announced along with token metrics and an updated white paper soon.
You can find the full announcement at the link below.