What is TKD-COOP?
Taekwondo Cooperative is an online platform where you can exercise and interact with various Taekwondo club members around the world.
In addition, Taekwondo Cooperative has issued an cryptocurrency ‘TAC’, to establish a reciprocal Taekwondo economic system, including compensation for its members’ activities and support for members of the other association.
(TAC : Taekwondo Access Credit, ‘택’)
Taekwondo Cooperative (“TC”) is an autonomous association of taekwondo athletes united voluntarily around the world to meet their common needs and aspirations of conducting and participating in more amateur taekwondo competitions both locally and globally. The world’s first TC was established in Seoul, Korea (South) in 2018.
The Founders of TAC believe that the demands of the world’s amateur taekwondo athletes for interacting with a more diverse group of fellow athletes and participating in ‘겨루기[kyorugi]’, or taekwondo sparring, competitions beyond their geographic vicinities have now grown to the point that they deserve to have the world’s first league of amateur taekwondo athletes organized in the form of ‘cooperative’, which enables them to become a member of local and global pools of their fellow taekwondo athletes who share the same aspiration towards conducting and participating in periodic competitions to be organized by their regional TCs or the national / world union of TCs.
TKD Co-op is a cooperative which runs on sports business. In our sports business, TKD Co-op would constantly organize tournament games by cooperating with local dojangs for logistics arrangements necessary to hold such events, and the Co-op members would pay for such services with TAC, our own utility token. The “entry fee” has been set at 10 TAC while we would list TAC on exchanges to start trading from a USD-equivalent value of 1.00 USD.
Through this initiative, we introduce a new concept of cooperative token (dubbed “TAC”: Taekwondo Access Credit) to be issued to and circulated by (but not limited to) a global economic community of the world’s Co-op members as a legitimate means to pay for services and products to be provided by the Co-op and its member dojangs around the globe. TAC has been intended and designed to be earned by any Co-op members who participate in and complete their sparring matches in any local tournaments organized by Co-ops. They will form the integral part of the constant and structural demand for TAC as real users who would regularly participate in tournaments and/or single matches to be arranged by Co-op on its online platform.
Now, let’s assume that there was a Co-op organized local tournament which took place in a Co-op member dojang in New York City. Two taekwondo athletes, Joe and Bob, have competed with each other in -80kg division and the winner of that day was Bob. The both have paid 10 TAC each per their tournament fees while each of them also received 20 TAC from BCM Europe, while Bob as the winner would be able to compete in the next fight in the tournament, getting another chance to earn more TAC.
The sparring match between Joe and Bob, from blockchain’s standpoint, is a transaction recorded on the distributed ledger held by all Co-op members around the world. Joe, Bob and the referees of the game would altogether report the result of that specific match to the ‘chain’ over their mobile dApp (or in PC setup), and upon this collective report, BCM Europe would send the incentive tokens to electronic wallets of the athletes and the referees for their services by an automated execution of the contract.
TAC is to be created in a finite volume (the total amount to be generated), so there is ultimately a limited supply to this token’s market. On the other hand, the demand for TAC is supposed to increase over time as our organization of cooperatives grows in size and scale globally as the Co-op members globally would buy the token from the market in order to use it in accessing the Co-op’s platform and services such as participating in tournaments, taking votes, paying membership dues for their dojangs (taekwondo schools) etc. Since the total maximum supply has been set (at 1 billion TAC), at one point in future, the token reserve would dry up and BCM Europe would no longer be able to send incentive tokens to the participants of the Co-op matches, which is bad news for sustainable operations of the cooperatives, although, with 1 billion total maximum supply, it must be an event that could happen in a distant future.
In order to avoid that, TKD Co-op would charge fees on sparring matches (i.e. transactions) that happen on our blockchain as a means to generate revenues in TAC. Also, each national Co-op would make annual contributions of TAC to BCM Europe in a ‘consensus amount’ of donation to be decided periodically by the World Union conference.
This circulation cycle of TAC (from BCM Europe to each member, then to national Co-ops and back to BCM Europe) was designed to ensure a sustainable, autonomous, and democratic operations of the TKD Co-op network over the world as an economic community with shared objective, as TAC is the critical means to keep the operations of Co-op networks running actively in such voluntary and orderly manner.
. . . Now Preparing . . .
Athlete of TKD-COOP
You don’t have to get an elite education!! Anyone who loves Taekwondo should register as a player and participate in cooperative competitions.
Available to participate provincial, national competitions, and international competitions.
People around the world watch the video of the match and vote online for the best match.
Lists of matches will be updated in real time on websites.
Check your opponent’s profile and video as much as you want.
After the competition, you’ll get ‘TAC’ as a reward!
Dojang of TKD-COOP
The masters have a Dojang, and the cooperative have matches. Join TKD-Coop and get a natural opportunity to promote and participate.
- Utilize existing dojang’s facilities.
- Lend the facilities to the class and competition events of the cooperative
- Generate additional revenue by receiving TAC as rental income
- Activate interactions between Coop alliance dojangs.
TKD-COOP 1st OPEN
TKD-COOP successfully hosted its 1st Korean Open(September 28, 2019)
TKD Coop is operated mainly by executives from pure club members who have experience as taekwondo players and masters, or who are united in their passion for taekwondo. They have been active in various social fields such as law, management, finance, and healthcare, and have led the management of Taekwondo cooperatives.