Website

WaBi (WaBi)

ICO

Last updated: Sep 15, 2019

WaBi (WaBi) is a digital token backed by safe products. Wabi place secure anti-counterfeit labels on consumer products in China and internationally. WaBi can then be used to purchase them.Сonnecting digital and physical, solving fakes problem in China.

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Overview

Project industry	Commerce & Retail
Product type	Platform
Founded	Russian Federation
Whitepaper	Open
Onepager	Open

What is WaBi

Problem

461 billion USD of imported fake goods in circulation globally.

Regular authenticity and food safety scandals in China and fake pharmaceuticals in play around the world.

Blockchain unable to solve the problem without a link between digital and physical assets.

Solution

Linking digital and physical assets through RFID labels with anti-copy functionality. Consumers can authenticate the product through their phone.

Business Model

Selling consumer products (baby food, cosmetics, alcohol, pharmaceuticals, etc.) protected by our technology to consumers.

WaBi Project - a blockchain-based loyalty programme to encourage and reward purchases in the Walimai safe channel, and to establish collective security through individual action.

Blockchain can solve the problem with digital assets but can not secure physical assets

Cryptographic technologies akin to Blockchain opened new horizons by ensuring the uniqueness of digital assets and the security of transactions

There has yet to be a technology able to securely protect the link between physical and digital assets while being cost effective

So far only high-end products such as diamonds could benefit from the security of the digital ledger - through expensive scanning of physical parameters. See https://www.everledger.io/ as an example

Walimai has developed a solution that securely links a physical item to its digital representation at a cost that allows us to protect everyday consumer goods such as milk-powder, pharmaceuticals, alcohol, and cosmetics both physically and digitally.

Details

Pre-sales: Jul 27, 2017 - Sep 01, 2017
Public sales: Nov 28, 2017 - Dec 01, 2017
Token supply: 100,000,000 WaBi
Total tokens for sale: 46,000,000 WaBi
Hard cap: 11,500,000 USD
Raised: 11,500,000 USD

Legal

Blockchain Platform: Ethereum

Bounty

Bounty: 1%

Token info

Ticker: WaBi
Type: Utility-token
Token standard: ERC-20
Dividends: Will buy back tokens with 60% of profits every year.
Token price in USD: 1 WaBi = 0.25 USD
Accepted currencies: BTC, ETH
Token distribution:
52% - ICO
15% - Reserve
8% - Team
35% - Growth escrow

WaBi Roadmap

2013

Walimai was conceived in September 2013

2014

Official operations started in February 2014 in the Science Park of Zhejiang University in Hangzhou China.

Walimai leadership engages in a strategic turn-around project for a global top-5 Infant Formula producer from April 2014 until January 2015.

- Walimai is selected as the one of the most-innovative companies at Open Innovations Forum in Moscow
- Walimai anti-counterfeiting technology is presented to Chinese and Russian premiers Li Keqiang and Dmitri Medvedev

2015

Walimai engages top producers of baby food and alcohol with prototype anticounterfeiting technology.

Walimai wins innovation grant from Jiaxing city municipal government and is incorporated in Zhejiang province, China.

2016

iOS, Android APPs launched, new version of RFID labels developed

Walimai begins sales in December 2016

2017

- Walimai signs up its first 3 baby-shops in May 2017
- Wabi blockcain based loyalty system for safe products developed and implemented