WaBi is the World's first crypto coin that engages consumers to combat counterfeits. WaBi is backed by a real demand for safe products. The WaBi loyalty program will be built on top of the Walimai safe channel for consumer products, which is supported by Walimai’s secure anti-counterfeit technology. Buyers of baby food, alcohol, and other products can mine WaBi by scanning products protected with Walimai's RFID-based anti-counterfeit labels with a special APP (available for free download from iOS and Android APP stores). This process verifies product authenticity of individual products prior to purchase, and also ensures collective security of all users: each scan renews the data held in RFID labels as well as the backend system data, thus supporting the system-wide security level. WaBi ICO is first of its kind to adopt a custom-made interactive bidding system to attract those who intend to support WaBi for the long term. This way everyone gets a chance to claim coins at their desired price, which discourages speculators and guarantees that initial token holders understand WaBi's long-term focus.
- Easy and secure authentication of physical objects - Banking level security principles applied on consumer products - RFID chip as the core of security and authentication
Baby store pilot
Consumer purchase with WaBi
Baby store expansion
Expand WaBi usage
Attention. There is a risk that unverified members are not actually members of the team
OpportunitiesWaBi’s closest blockchain competitor, Walton, has a huge market cap of $130 million while WaBi is more advanced in terms of development. Walton has signed MOUs (Memorandum of Understandings) with many companies, but MOUs mean very little in China as the parties of the MOU are not contractually committed to anything.China suffers from counterfeit products and the Chinese are willing to pay a premium for quality. For example, they pay a premium for baby formula imported from overseas partly because the authenticity is guaranteed.The project has solid team members and advisors who can actually help the business development of the project.
Concerns:Even though the Wabi Project is based in Singapore, Walimai’s operations are mainly in China, which is subject to a lot of regulatory risks relating to cryptocurrency.
Conclusion:Overall, we like this ICO both for its short- and long-term potential. Our thoughts of the tokens for short term and long term are as follows:For short-term holdingGood. The project’s hard cap, team, business idea, and market awareness are all above average. However, due to the hype surrounding the project, the individual cap for the ICO is probably going to be low.For long-term holdingGood. As mentioned above, Walimai is a good candidate to benefit from the favorable macro trends. We believe it has a good chance to be successful.
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