The weeEcosystem goes blockchain
Transforming an online shopping platform, mobile payment and cashback system to a global and fully fledged blockchain-enabled payment ecosystem.
Who wee are – before blockchain
The weeGroup is an operative group of twelve companies under the ownership of the Swiss Fintec Invest AG, based in Bottighofen, Switzerland. The wee Initial Token Offering (ITO) is conducted by the weeNexx AG, which is the issuer of the weeMarketplaceAccessToken (WMA). The group owns a pan-European online shopping, mobile payment and cashback programme, which is fully operative in Germany, Poland, Switzerland, the UK and Slovenia. From 2020, wee will go operational in France, Italy, Austria, the Czech Republic and Slovakia, for which Business Development is already preparing market entry. Further countries are to be added starting 2021.
The group has developed a well-known global shopping community under the brand name wee; this weeCommunity combines renowned brands and local retailers on its online platform, the weeMarketplace. wee offers an innovative alternative to conventional loyalty programmes:
registered users collect wee for any purchase made at any weePartner, which can then be redeemed for new purchases at any offline weePartner OR withdrawn in form of real cash via bank transfers.
Approx. 200,000 registered users
More than 20,000 offline and
1,700 online weePartners
wee brings together all participating partners worldwide –
with just one App.
Where wee are going –
wee adopts blockchain technology and tokenises its cashback programme with the utility weeMarketplaceAccessToken (WMA) and the stable weePayCoin (WPC).
WMA UTILITY TOKEN
provides users (both merchants and customers) access to the new, blockchain enhanced weeMarketplace.
– System built on tokens set up on Ethereum network
– Solving issues of segmentation
– Benefits our investors
– Highly liquid asset provides
higher utility and demand
– Faster and more cost-efficient
– Offering users a truly
– Unlocking the frozen value of
many cashback programmes
– Removes the need for reserve
funds (allowances) for third-party
wee have solutions.
In conventional loyalty and cashback programmes, users collect points, which have limited functionality because they can only be redeemed at participating outlets. This puts constant pressure on the loyalty provider to increase its number of partners to differentiate itself from competition.
Instead of collecting loyalty points, wee users will now collect WPC, which has many use cases compared to traditional cashback points. WPC can be used for purchases at weePartners and all outlets accepting ERC20 tokens. In addition, it can be exchanged for cash, but also for Bitcoin or other cryptocurrencies.
When wee users want to withdraw their wee in the form of cash, this means having to handle a large amount of bank transfers, which are very time consuming and require a lot of efforts from the company. Users may even lose some of their collected cashback due to high bank transfer fees.
By replacing the existing wee points with the stable coin WPC, cash withdrawals will be handled much quicker and at lower transaction costs, making wee more attractive than conventional cashback programmes.
With its current business model, wee is managing several divisions, which translates to a higher need for manpower, higher management costs and an increased difficulty in consolidating its data, transactions and ultimately its strategy.
With the introduction of blockchain technology to the wee business model, data and information can easily be consolidated, as well as accessed quickly and at lower cost, making the organisation more efficient and facilitating management.
An increasing number of users and transactions requires a sophisticated IT infrastructure, including strong servers and soft-ware to handle large numbers of transactions and data.
Funding wee’s transition into blockchain
The weeMarketplaceAccessToken (WMA) is the key element of the weeEcosystem. Its main utility is to provide users (both merchants and customers) access to the wee Marketplace. WMA will have to be owned by anyone who wants to participate in the wee Marketplace and the weeEcosystem:
–weePartners and weeUsers will need to permanently hold a defined amount of WMA in their e-wallets to gain access to the wee Marketplace;
–Owners of WMA tokens will be put into tiers which will qualify them to receive added benefits from the platform, such as higher cashback rates (weeUsers) or added marketing incentives (weePartners);
–Owners who hold their WMA tokens for longer terms also receive substantial advantages
It offers the opportunity of generating income through:
–The WMA’s increase in value once listed on relevant crypto exchanges
Why will WMA increase in value?
–Being a utility token, it is highly liquid and easily tradable
–WMA is expected to increase in value due to wee’s growth strategy for an increasingly growing number of weeUsers, registered weePartners and transactions on the wee Marketplace; and
–Demand for WMA will increase due to is real use case: WMA is a requirement for participating in the weeEcosystem
Replacing wee and functioning as payment means
The weePayCoin (WPC) is a stable coin created to function as payment means and to be used for borderless payments. It will replace the previously collected “wee”, be the fuel driving the wee intelligent economy, and become the basis on which wee’s future unique financial infrastructure will be built.
–Issuance (minting) and deletion (burning) of the WPC will be thoroughly performed by the wee Marketplace with its partner bank;
–WPCs will only be issued by the wee Marketplace if and to the extent that amounts of Euro will have been paid in;
–In the case of minting WPCs, the registered retailers, merchants or servicers must pay a certain amount in Euro into an account held with the partner bank as a deposit; customers have to top up their respective weeApp or weeCard by paying in Euro;
–In the case of burning of WPCs, WPCs will be deleted if and to the extent that, upon request, Euro will be paid out to a registered retailer, merchant or servicer or to a customer as the case may be.
–When exchanging WPC for Euro, the deposited Euro amount will be transferred to the transferor and the corresponding number WPCs received by the wee Marketplace will be deleted.
Dr. Leo Thomas Schrutt
Chairman of the board
Many years as a member of the Executive Board for the global institutional investment business and research; Chief Analyst and head of a global investment committee. The focus of his activities is on consulting for executive management, banks, the financial industry and, in particular, pension funds as well as the assumption of executive functions as a member of the Board of Directors. The geographical area of activity is Europe, Asia, North and South America as well as Africa due to the multilingualism.
wee starts its own cryptocurrency. From cashback to a new era of financial opportunities with blockchain technology.