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WHITEPAPER

Revolutionising the future of global decentralised shared mobility

 

 

 Contents in this version are subject to change at any time as the project progresses

 

 

 

 

 

 

 

 

BUILDING THE FUTURE OF URBAN TRANSPORT

 

JOOPScooter was established in 2016, and originally started out as a manufacturing and retail distribution company. During this period, we have become one of largest manufacturers and distributors of adult electric scooters to the consumer market. You can view our retail side of the business by visiting (www.joops.co.uk). In recent years we have witnessed the strong growth of mobility services in cities around the world, with the birth of some of the largest international companies like Uber, ZipCar and DriveNow. Witnessing this massive growth in the transport sector has inspired us to create the first global decentralized Electric Scooter, P2P sharing Eco-system, powered by the blockchain. Our first step was to test the market by carrying out trials in a few major cities in Europe, we quickly established that we was on to something big going by the willingness of commuters to embrace this new technology, It seems a new trend is emerging! With JOOPScooter sharing users can be part of the electric revolution, finding a parking spot in town will no longer be an issue. In short JOOPScooters are environmentally friendly, convenient and easy to use, creating less congestion in busy cites. It is expected that the electric scooter sharing market will soon outgrow the free floating car sharing market. Why is JOOPS different from its competitors? JOOPS is the world first electric scooter company on the blockchain providing a global electric scooter hire service, combined with a P2P sharing network. Unlike many other private centralised companies JOOPS allows the consumer to easily become an operator, by simply purchasing a JOOPScooter and renting it out on our decentralized network. Therefore, in theory you could live in the US and own a JOOPScooter that is deployed in Australia for example. This allows the opportunity for anybody in the world to become an operator and create a passive income on the JOOPS network. Each scooter will have its own cryptocurrency wallet built in, allowing payments to go directly to the operator’s scooter, this will allow the operator to access their funds from anywhere in the world using their wallets private key. What started out as just an idea has developed into one of the most exciting sharing mobility projects on the blockchain. We are proud of the business that we are creating, and relish the opportunity to offer our JOOPS sharing Eco system to the world, we strive to be pioneers of the electric revolution.

 

 

 

 

JOOPS mission is to build the next-generation decentralised sharing Peer-to-Peer Ecosystem.  JOOPS aims to reduce overall operating cost, using blockchain smart contracts, JOOPS will revolutionise the future of shared mobility with the features below: 

 

  • Decentralised  and  Minimised  Operating  Cost 

  • Open  Source  and  Scalable 

  • Trustworthy  and  Anonymous 

  • Autonomous  and  Better  Compliance 

  • Incentivised  Participation 

  • Monetization  of  services 

  • Peer  to  Peer  Ecosystem  Community

  • Decentralised  and  Minimum  Transaction  Cost 

  • Better  Distribution  and  Matching 

  • Quicker  Transactions  without  payment  barriers 

 

 

JOOPS mission is to build one decentralised sharing economy and peer-to-peer ecosystem for electric scooter sharing. The sharing economy has been rapidly emerging as a market leading industry. This is fuelled by declining transaction costs, increased use of Smartphones and internet connectivity. In the future sharing electric scooters will become the norm and private ownership will be rare. A sharing society will increase the overall income and welfare of that society. This sort of sharing economy enables us to convert the transaction of property ownership into the transaction of right to use. It is a realisation of the “on demand” transaction.   

JOOPS aims to not only provide a global electric scooter hire service powered by the blockchain, but to also create a peer to peer network enabling the consumer to also purchase a JOOPS scooter and have the option to become an operator by renting out their scooter on our network when they are not using it. This will create a passive income,For the operator in the form of JOOPS crypto currency token, each scooter will have its own crypto currency wallet built into it, allowing payments to go directly to the operator’s scooter. 

Blockchain technology makes it possible to establish a secure digital identity online, which can include a driver’s license or passport for example. Each user has to register to rent a scooter to make sure that only authorised people have access to the scooters. Our smart contract makes this registering possible by providing functions to register a user, remove a user from the register and check if a user is registered, in order to prevent unauthorised access.

A Decentralized App (ÐApp) is a proprietary or public web app with a blockchain-based backend. Sharing a scooter with our ÐApp will require an existing JOOPS wallet address for the user, with the necessary funds (JOOPS token) to pay for the ride. This can be achieved by installing the JOOPS mobile wallet on your iOS or Android phone.

After installation, the ÐApp will offer the following options:

•           Search and selection of an available scooter

•           Booking a scooter to start a rental

•           Returning a scooter and ending the rental

Booking a scooter unlocks it and withdraws the funds for the trip, based on the planned duration. After returning the scooter, the scooter is locked. With the used duration the actual price for the trip is calculated and any overpaid amount would be refunded. We chose such a prepaid model, as it ensures liquidity of the user.

Tariffs for scooter hire would be considered as micro payments. Using current payment infrastructures like credit or debit cards these micro payments would be very costly for operators, not to mention the start to end processing duration of up to a few days. Blockchain transactions are not only significantly cheaper regardless of the debited amount but also processed within seconds. With our approach, it is the vehicle that collects the appropriate amount before the user is granted access to it. This eliminates the risk of not getting paid. While credit card transaction fees on micro payments can be as high as 10% for a single ride, transaction cost for blockchain based payments will be close to zero. It is needless to say that this is a significant improvement. Unlike other companies JOOPS scooters will have dedicated drop off/collection/charging points located all around the surrounding areas. So each journey will start and finish at a dedicated collection/drop off point. This will ensure that all scooters are stored neatly and recharged in between usage. Our scooters will be fitted with an integrated GPS system, which prevents trips from being ended outside of the dedicated drop off/ collection points.

Only with robust technology is it possible to create a platform that can scale to millions of scooters as well as users. The highly distributed, decentralised architecture of our blockchain technology eliminates single points of failure and contributes to an always-on mobility service. The single most important success criteria can be achieved: reliability! This is key for any shared mobility service. Users rely on mobility services in their everyday lives to go to work, run errands, visit friends and they will only adopt these services in the long term when their trust is not being disappointed. The service simply has to work.

 

DATA SECURITY AND PRIVACY 

Many sharing economy companies are “data controllers” because they decide how personal data will be collected and how it is used. Controlling and dealing with personal data is integral to the activities of sharing economy platforms. Users may be required to share a range of information about themselves, including their location, address, job etc. and users are becoming more aware of and concerned about the way that their data is collected,  stored and shared. These concerns have been heightened by a number of high-profile data breaches where digital platforms have been subject to malicious attacks resulting in the Disclosure of user’s personal data, Irrespective of the cause, negative publicity and erosion of users trust arising from a data breach is highly damaging to the development of the sharing economy. 

 

REGULATION VS REPUTATION 

While the sharing economy continues to grow explosively, Information asymmetry issues generally reduces over time, however, the downside of things going wrong is much more severe: Reputational mechanisms drive the sharing economy. Such mechanisms, conducted over a given service platform, include user reputation, peer reviews, identity verification. People could list anything, but sharing economy does not have an effective review system yet. Giants such as Airbnb offer a detailed history of an accommodation processing financial transactions as an independent third party and providing comment mechanisms.  However, these comment mechanisms often allow reviews and ratings after the transaction happens and/or service is completed.  Such mechanisms can also be biased, as the rules are centrally developed by the platform, and could be manipulated and intervened against by the platform itself to generate revenue streams. Thus, the rise of peer-to-peer networking and the burgeoning “sharing economy” has been a hot topic in many government policy conferences, where participants explore whether any new regulations are needed. In a wide ranging discussion covering rapidly changing business models, potential regulatory obligations and consumers’ increasing dependence on reputational feedback mechanisms, economists, industry representatives and academics hashed out what is clearly a complex system. The Sharing economy is still highly regulated in certain countries due to government policies, and is even banned in some countries or cities. 

 

 

 

We desire to build a faithful sharing economy system where sharing is the new ownership. Everyone should have the full ownership of their data they possess and create. Data must be freely owned, and will not be used in exchange for the right to participate in our JOOPS sharing Eco system. Everyone who contributes to the JOOPS sharing economy will receive proportional incentives for their contribution. The Sharing Economy should be non-monopoly and unbiased for everyone. JOOPS Sharing Economy should be autonomous in nature, highly efficiency, low cost and highly incentivised in order to incentivise every individual who participates in the sharing ecosystem.  JOOPS will be a global trustworthy, high quality payment network, embracing revolutionary ideals. 

 

JOOPS - GLOBAL DECENTRALISED SHARING

At JOOPS, we highly value every participant in the entire ecosystem, and intend to evaluate every individual’s contribution to the ecosystem based on the incentive mechanism.  Individuals will all be able to contribute to the ecosystem in the roles below.

ROLES IN THE JOOPS ECOSYSTEM 

The service Consumer is a critical role in the ecosystem; Service Consumers purchase services with JOOPS, consumer’s behaviour and quality during the service will be recorded. All this data will be the foundation to building a decentralised sharing economy and the foundation of the peer to peer ecosystem. In order to preserve the autonomy of the ecosystem, Community referees will Receive JOOPS incentives for monitoring and reporting services that are against the Ecosystem’s benefit and operational protocol. 

 

JOOPS WALLET AND SMART CONTRACT 

JOOPS intends to develop a Wallet that will handle all JOOPS related transaction activities. All communications will be securely encrypted via 256-bit encryption; the Wallet’s private key will only be accessible by the wallet owner. Transactions will only be authorised by the wallet owner, JOOPS does not keep any personal data within its system. The complexity of private key management and alphanumeric addresses may create significant barriers to mass adoption. To address these issues, JOOPS plan to develop simpler authentication methods such as biometric authentication.  

 

SMART CONTRACT 

JOOPS Smart contracts will be created on the Tron blockchain; Smart contracts are used to immutably track and transfer value and safely manage sensitive data. The information on the Tron blockchain or future JOOPS public chain is completely transparent and can be seen by anyone. JOOPS Smart contract is the core and universal protocol, JOOPS will utilise IPFS  (Interplanetary File System) to further protect sensitive information with additional hash capabilities and creating permissioned blocks. JOOPS smart contract will access personal Information regarding the consumer in order to authorise services, only users with the blockchain address and key to the hash can access this information. 

JOOPS INCENTIVE STIMULATION PROTOCOL 

JOOPS smart contract is designed to include an effective economy stimulation mechanism to encourage everyone to contribute to the ecosystem.  All incentives awarded will be directly related to the review of their recipient, in order to encourage and regulate all users to behave fairly by providing objective reviews, to ultimately enable the ecosystem to be autonomous. The principle is that all contributions should be incentivised and has a clear incentive mechanism. This is essential to continuous improvement of the ecosystem towards higher and higher levels of functionality.

 

 

2)  SYSTEM INCENTIVES FOR EARLY USERS 

Early users on the JOOPS eco system will enjoy higher system incentives. As the ecosystem scales the bonus incentives will reduce, and eventually decay to zero. Once the ecosystem has fully established, supply and demand will be sustained from within, without relying on any early contributor incentives. 

3)  SYSTEM INCENTIVES FOR QUALITY OPERATORS 

High quality operators should be incentivised, the more an operators service is purchased, used, recognised, or recommended, the more incentives they will receive. 

4)  SYSTEM INCENTIVES FOR GOOD SERVICE CONSUMERS 

Good quality consumers should be incentivised. Service consumers with frequent usage of services, larger transaction amounts and better community contribution will be given more incentives for consuming services 

5)  SYSTEM INCENTIVES FOR ACTIVE SERVICE REVIEWERS 

Reviews in the JOOPS ecosystem are always highly valued, good quality reviews are critical in regulating the healthy growth of the ecosystem; they encourage the operators to improve the quality of service rendered, and help to promote better quality services throughout the entire ecosystem. The reviews are intended to be peer regulated, if the review has more support from other reviewers than disagreement, the reviewer will be given system incentives. 

 

TRANSACTION PROTOCOL 

The blockchain transaction confirmation mechanism is critical to enable the autonomous self-regulating of the ecosystem. 

 

EARLY CONTRIBUTOR INCENTIVE 

Efficiency of a Sharing Economy highly depends on supply and demand sufficiency. In order to better incentivise more participants from both supply and demand sides, JOOPS will   incorporate incentive mechanisms to incentivise early stage contributors. As the ecosystem scales, this bonus in system incentives will reduce, and eventually decay to zero. 

 

THE TRUE VALUE OF PRIVACY, DECENTRALISED DATA STORAGE VIA BLOCKCHAIN 

JOOPS will build a system to keep all information on distributed storage via the blockchain, data can only be read and cannot be modified ensuring that all the data storage transaction verification's and information transmission will be decentralised and credible. The adoption of a decentralised structure will save costs in areas of data integration, calculation and maintenance of a central platform. The Above-mentioned characteristics will help to improve operational efficiency and reduce costs within the sharing economy. The blockchain data characteristics of authenticity, tamper proofing, completeness and transparency provide convenience for legal evidence tracking and aid in the prevention of malicious activities.  Distributed billing & storage systems improve the fault tolerance of data as well. The excellent & strong anonymity of blockchain has the potential to protect user privacy so user’s personal data will not be leaked to an unauthorised third party.

A SHARING ECONOMY NEEDS AN INCENTIVE MECHANISM 

We believe incentivisation is a critical stimulator to the sharing economy. JOOPS Incentive mechanism will measure and reward all parties, which contribute to the ecosystem. 

SUPPLY SIDE: Viewing, Searching, Reserving, Using, Inviting, Rating, etc. 

DEMAND SIDE: Listing, Sharing, Promoting, Rating, etc. 

All interactions (peer-to-peer) will be incentivised with JOOPS token by the system according to the mechanism algorithm. This is to incentivise the participation, contribution, community building, integration and scaling of the sharing Eco system. All interactions (peer-to-peer) will also be associated with JOOPS from both sides of the interaction, which means Interactions = Transactions = two side incentives, so that incentivisation can happen from the upstream of the sharing economy actions, instead of being limited to service level transactions. In the JOOPS Ecosystem, everything can be connected, all interactions can be incentivised, and it is envisioned to be an entirely unbiased mechanism where anyone may freely share and trade. 

 

GLOBAL PEER-TO-PEER ECOSYSTEM 

Combining Blockchain smart contracts JOOPS aims to enable an entirely peer-to-peer ecosystem with higher efficiency and a lower operating cost than existing models. 

JOOPS OFFICIAL TOKEN IS JOOPS. 

JOOPS official token is a non-refundable functional utility token, which will be used as the basic unit of exchange between participants on the JOOPS platform. JOOPS token does not in any way represent any shareholding, participation, right, title, or interest in the JOOPS Company, its affiliates, or any other company, enterprise or undertaking. Nor will JOOPS entitle token holders to any promise of fees, revenue, profits or investment returns, and are not intended to constitute securities.

When the native blockchain is online, JOOPS is designed to be used as a virtual crypto Currency for functions such as executing transactions, providing the economic incentives, which will be consumed to encourage participants to contribute and maintain the ecosystem. JOOPS will be used as the unit of exchange to quantify and pay the costs of the consumed computational resources. JOOPS is an integral and indispensable part of the ecosystem, because in the absence of JOOPS, there would  be  no  common  unit of exchange to pay for services ,  thus  rendering  the  ecosystem  unsustainable. 

 

 

 

 

You understand and accept that JOOPS 

(a)  is non-refundable and cannot be exchanged for cash (or its equivalent value in any  other virtual currency) or any payment obligation by the company

(b)  Does not represent or confer on the token holder any right with respect to the company or its revenues or assets, including without limitation any right to receive future revenue, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to JOOPS.  

(c)  Is not intended to be a representation of money (including electronic money), security, commodity, bond, debt instrument or any other kind of financial instrument or investment. 

(d)  Is not a loan to the company, is not intended to represent a debt owed and there is no expectation of profit and does not provide the token holder with any ownership or other interest in the JOOPS organisation.

The contributions in the token sale will be held by the Distributor (or its affiliate) after the token sale, and contributors will have no economic or legal right over or beneficial interest in these contributions or the assets of that entity after the token sale. To the extent a secondary market or exchange for trading JOOPS does develop, it would be run and operated wholly independently of JOOPS. Neither JOOPS nor the Distributor will create such secondary markets nor will either entity act as an exchange for JOOPS. 

 

TOKEN SPECS 

  • Total JOOPS tokens: 200 MILLION 

  • JOOPS token will migrate onto the Tron network 

  • Participant’s wallets must be JOOPS compatible 

  • Token Sale accepts: BTC +  ETH, XRP, BCH, LTC, USDT, TRX, MONERO, ETC, DASH, WAVES , Visa and Debit card payments also accepted

 

 

PARTNERSHIPS 

TRON decentralised Internet, The next Web 4.0 blockchain Dapp platform. TRON is a world leading blockchain based decentralised protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The  protocol allows each user to freely publish, store and own data, and in the decentralised  autonomous form, decides the distribution, subscription and push of contents and enables  content creators by releasing, circulating and dealing with digital assets, thus forming a decentralised content entertainment ecosystem. JOOPS will collaborate with TRON to enable cross-ecosystem collaboration. 

 

RISKS 

You acknowledge and agree that there are numerous risks associated with purchasing JOOPS, holding JOOPS, and using JOOPS for participation in P2P sharing. 

1.  Uncertain Regulations and Enforcement Actions 

The regulatory status of JOOPS and distributed ledger technology is unclear or unsettled in many jurisdictions. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including JOOPS. Regulatory actions could negatively affect JOOPS in various ways. JOOPS may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approvals to operate in such jurisdiction. After consulting with a wide range of legal advisors and continuous analysis of the development and legal structure of virtual currencies, JOOPS will apply a cautious approach towards the sale of JOOPS. Therefore, for the crowd sale JOOPS may constantly adjust the sale strategy in order to avoid relevant legal risks as much as possible. 

 

2.  Competitors

It is possible that other networks could be established and utilise the same or similar code and protocol underlying JOOPS and attempt to recreate similar facilities. JOOPS may be required to compete with these alternative networks, which could negatively affect JOOPS. 

3.  Failure to develop 

For a variety of reasons, there is the risk that the development of JOOPS will not be executed or implemented as planned including without limitations. The event of a decline in the prices of any digital asset, virtual currency or JOOPS, unforeseen technical difficulties and shortage of development funds for activities. 

4.  Security weaknesses 

Hackers or other malicious groups or organisations may attempt to interfere with JOOPS in a variety of ways including but not limited to, malware attacks, denial of service attacks, consensus-based attacks, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of JOOPS or its affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure, which could cause a negative affect.

 

5.  Other risks 

In addition to the aforementioned risks, there are other risks associated with your purchase, holding and use of JOOPS, Such risks may further materialise as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on JOOPS as well as understand the overall framework   and vision for JOOPS prior to purchasing.

INTRODUCTION: