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RE: WaBi - the (pre)ICO you've never heard of
Interesting project, has a very modestly capped pre-ICO as well. That's always a good sign in the money-hungry crypto world!
My question is what is the purpose of the token? I understand how this problem could be solved using blockchain tech, especially thanks to immutability. But what would the token's use be?
I should've seen that question coming since it was my first one aswell :D
The token is more like a share of their future profits.
This is from their whitepaper:
They're not promising any new technology with their token and therefore are not really "competing" with any of the existing altcoins. It's more a way to get their project financed to be able to grow as fast as they want to.
People looking for a fast profit probably shouldn't invest too much but if they're successful the token might prove to be worth a lot. If not well... then the money is gone. But that's the risk with all of the ICOs and their idea sounds good to me.
So in my own interest and because I believe they are adressing a real issue I'm trying to find other people interested in their idea.
Ah I see. Well, it goes to a worthy cause. I'll look into it a bit more and decide to donate some or not but it's hard for me to research about the staff and their history since I can't read Chinese haha.
Thanks for your response!
Hey,
just wanted to keep you updated:
Due to regulations they had to change the way their tokens work a little bit. It's now much more of a real world use by creating something like a bonus system for the potential customers of their products.
Furthermore they are now not limiting their tokens to baby food only but to every product line they decide to acquire later on.
You can find more details about all the changes here, in their updated whitepaper and of course on their homepage.
Awesome, thank you!