Couple concerns...
If you built it water-tight and you ever get a high water table, big rains, unknown water source underground, etc... it'll float up out of the ground just like a boat. It happens to one-piece swimming pools sometimes when people drain them. It happens to burial vaults in cemeteries. It happened to our town's sewage plant when they were building it; giant cement tank probably 100x100x20 lifted out of the ground several inches. My father was an architect. He told me several stories about watertight basements lifting entire houses and buildings up out of the ground due to ground water issues. Just something to keep in the back of your mind.
Around here, they put a drainage tile around the inside and the outside of the footing. The inside one goes to a sump pump. The outside one goes to the inside to a second sump pit (can't figure why they'd want to bring outside water inside, but that's what they do, if there's no way to gravity drain them).
There's usually waterproofing on the outside and a foot or so of gravel down the entire depth of the outside wall, usually in filter cloth, so any water that may come up against the outside wall will drain fast down to the drain tile, into the sump pit and be pumped away.
On the inside they never put wood sheeting up against the interior concrete wall. With the cooling and heating of concrete, it attracts condensation. The wood may rot or mold, as others have mentioned.