Palto Designed to Incentivize Users and Increase User Activity and Retention
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2018) - Hello Pal International Inc. (CSE:HP) (FSE: 27H) (OTC Pink: HLLPF) ("Hello Pal" or the "Company"), a provider of rapidly growing international social messaging, language learning and travel mobile apps based on blockchain technology, is pleased to announce that, along with the release of Hello Pal version 5.2, it has launched its own proprietary blockchain-based tokens to users on its established Hello Pal platform. The token, named "Palto" ("PLT"), forms a crucial part of the Company's strategy to create a thriving ecosystem that spans across the Hello Pal platform that currently houses its three main apps, Hello Pal, Travel Pal and Language Pal, and has over 3.5 million registered users spread across 200 countries and territories.
In the latest Hello Pal release, Hello Pal users will earn Palto's for specific actions in the Hello Pal ecosystem such as creating popular Moments postings and helping other users learn new languages. Over time, there will be increasingly more opportunities for users to earn Paltos, including through the companion apps Travel Pal and Language Pal. Hello Pal users will earn Palto's through the use of the Hello Pal platform and cannot currently purchase Palto's from Hello Pal.
The launch of Palto's follows the Company's recent release of the proprietary digital wallet feature on the Hello Pal app. Paltos earned by users will be automatically stored securely in their Hello Pal digital wallet alongside other select established blockchain-enabled digital currencies that the user may have, such as Bitcoin (BTC) and Ether (ETH).
"With the latest release, we are now able to directly reward our users for their contributions to the Hello Pal platform," said KL Wong, Founder and CEO of Hello Pal. "This will allow us to incentivize user behavior to create a better user experience for all users, and at the same time greatly improve user activity and user retention."
Palto, as a decentralized store of value, also allows users to directly pay other users with Paltos who help them with their various needs, and at the same time allow users to be remunerated in Paltos from other users for their efforts in helping to fulfil those users' needs. The possible use cases for payments between users on the Hello Pal platform currently cover social, language learning and travel offered in the Company's existing apps.
"There are already innumerable use cases requiring payments between users just in the social, travel and language learning sectors alone, but we see this expanding in the future to include translation, games, consultancy, freelancing and more," said Mr. Wong. "The use cases will be limited by our users' needs, which will only continue to evolve and expand over time."
Apart from enabling the transfer of value between users, Paltos will also play a key role in the Company's efforts to build an expansive ecosystem consisting of multiple parties such as users, developers, service providers, publishers, advertisers, and other participants. Ecosystem activity will be fueled through the earning, consumption and transfer of Paltos by ecosystem participants across the Hello Pal platform.
Paltos are ERC20-compliant tokens issued through the popular Ethereum blockchain. They are currently only available to users of the Hello Pal Platform, and are intended solely for use on the Hello Pal Platform.
To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: investors@hellopal.com.
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly blockchain based messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
The Hello Pal platform also includes a proprietary digital wallet allowing users to store and transfer popular digital assets and tokens, including Bitcoin and Ether, based on blockchain technology.
Hello Pal was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal and Language Pal are the first and second companion apps to launch. Both apps benefit immensely from the existing and ever expanding globally based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's Listing Statement dated May 10, 2016 available on www.cnsx.ca. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
