Yet for Wu Di, the founder and driving force behind the group, the ICO represents so much more – it is a means to fulfilling his long-term dream of providing a way for people to achieve their own personal freedom.
OjuT, launched only a handful of weeks ago, currently trades at just over US$4 per OjuT unit, with more than 84 million OjuT units reported already sold, garnering US$125mn for the group with the price rising since the currency’s launch.
The ICO (initial coin offering) is already built on a solid foundation, with the group owning or managing 105 properties in Phuket, and marks the launch of a three-pronged strategy.
“This is just the first stage, where we are developing our own projects. We re-invest the money from this stage into property development where OjuT owners can use their tokens to buy property units,” explains Wu Di, or just “Wudi”.
“In the second stage we plan to start buying projects, purchasing hotels or hotel brands or hotel management companies that will expand our reach of where the coins can be used. In the third stage we will reach out to collaborate with partners – restaurants, spas, hotels – greatly increase marketing and brand awareness,” he adds.
A serial entrepreneur since the early 2000s and not yet 34 years old, Wudi has already made his fortune.
“I started a lot of companies. I went into IT services, web services, online games and SEO, and made a lot of money from that. I created an education company, three online game companies and sold them and went onto other things, including real estate,” he explains.
“I joined a Singapore real estate investment group, where I learned a lot about the property investment industry. At the same time I had a vested interest in education, to get the kids out of their routine.”
Yet all of this stimulated his interests and led to his personal epiphany: “What the education system and the professors teach you rarely applies in real life. There is a discrepancy there. That was my original inspiration and why I went into entrepreneurship,” Wudi explains.
“This is the part that stimulated my interest, which is that I don’t believe that the world we live in is real. We are being tricked into believing that the world we are living in is the only reality, but in fact if you step out of this limited thinking, you can start to create your real life. Mainly through education and related fields, you are brainwashed and programmed along a certain path until in the end, you (unwittingly) become a slave.
“Education around the world, is a mass brainwashing system designed to force square pegs into round holes. It destroys creative imagination. It’s not a system designed to involve and evolve you as an individual, nor does it seek to advance and uplift mankind in general. In fact the opposite is true and the results are clear for all to see in the world today.
“So my goal has long been to inspire people to achieve their own true potential so that we can all play our part in building a better world for everyone,” Wudi explains.
“I want to show people how to escape the matrix, to develop their real talents without limits. For example with the right property investments, you don’t need to depend on a salary anymore. You can start to control your own life and spend time developing new hobbies and interests. Travel can be the best education of all, seeing the world from ever-changing points of view.
“This is my original inspiration, and it started very early. I have already been working towards this goal for a very long time,” Wudi relates.
“The cryptocurrency is only my latest (effort) in this. I started this a long time ago, with my interest in education, to try to get the kids to break their routine and start learning to live their lives… property investments came much later,” he notes.
“This is why I moved to Phuket, where I started a property company quite a few years ago, because the returns on Phuket property compared with other areas around the world are relatively high, especially compared with China, where the returns are very low.
“Through property investment people can get regular and stable returns that are higher than the salaries they earn, which means they don’t need to get the salary anymore, then they have the time to move out of the regular routine to start their real fresh life.
“Actually every business I have ever started has had the same purpose: to free people.”
To Wudi, the advent of Blockchain and cryptocurrencies have together presented the perfect opportunity to deliver his dream.
“This is what is so outstanding about Blockchain and the cryptos. It creates a system that there is no centralised control. Not the banks or any one country,” he says.
Blockchain and cryptocurrencies are a financial revolution that is going to change the entire world from the ground up. Cryptocurrency is so revolutionary because we are moving away from the banks.
“The banking system is not designed to bring you financial freedom. The banks’ goal is to enslave you in debt and control the worlds assets,” Wudi adds.
“Comparing to what I did before, in education, the influence I could make to create positive changes was very limited. This is because powerful interests have installed a top-down system that does not allow bottom-up changes to disrupt the status quo.”