WaBi Tokens — What you need to know

WaBi (WABI) - $1.90 USD (.00013578 BTC)

WaBi is an Ethereum based platform that uses Walimai’s anti-counterfeit technology. This technology uses anti-counterfeit labels that consumers can use to verify that the product is the real deal, right from their phone.

Where does WaBi come from?

Wabi stems from a real world problem that needed a solution. This problem is the counterfeit goods business that plagues much of the world, but was identified specifically in China. In 2008, 6 infants were killed and about 54,000 were hospitalized. The infant milk contained a chemical that made the protein content appear higher, when it actually wasn’t. This led to a protein deficiency in the children. 

This brought Chinese corruption and food safety to the spotlight, causing many changes. RFID (Radio-frequency identificaion) was chosen as a fix to this issue. Walimai, a company, created a technology to put on products to certify that they are authentic. This “tag” can be scanned by consumers to verify that it is an authentic product, and the tag cannot be counterfeited in theory and once removed, the tag doesn’t work anymore to authenticate a product.

The technology is meant to protect consumers from counterfeit products, and allow consumers to feel safe when purchasing the products. A study was done and consumers said they would be willing to pay a higher price for their good to know they are not counterfeit. This shows how important this issue is China specifically.

So where does the token come into play?

Using WaBi allows for a single-click automatic payment for products using the Walimai technology. But it doesn’t just allow you to buy these products easily, but there are also more benefits including discounts, better delivery (like being an Amazon Prime member) and earning WaBi points with every purchase like a cash back program.

They have partnered with 200 clients online and have began talks with several baby food manufacturers and alcohol producers. They have even wo several grants for their innovations in China and have created iOS and Android apps to read the RFID labels.

What is next? 

WaBi is working on securing partnerships with many manufacturers, and has already signed contracts with 3 baby food stores. After successfully implementing their technology in China, they plan to expand to other areas of the world and other areas of products.

As you can see, this coins stems from a real issue and aims to provide a solution to a real problem. The only issue i have with this staregy is that the token is not necessary. It does provide benfits when you use WaBi, but the same technology could be used for consumers to purchase things with cash. So that is something to look for, to see if the coin does get implemented widely.

Their team:

This is the least interesting part of coins to me since you never know how well these people can produce a successful product unless they are someone who has made a coin before.

To me, their team appears solid. They have many people with much experience in the fields they are leading. The IT lead is described as a “blockchain and crypt economics specialist”. His name is Arthur Pinchuk and he has worked with another ICO that experienced minimal success. 

The 2 cofounders are Alexander Busarov and Yaz Belinskiy. Mr. Busarov has worked in high up positions in companies before, which shows he can run this company, while Mr. Belinskiy has also been with very successful companies himself.

Overall, i dont think this team sways my mind either way on whether the token is worth it or not. But of course, this is not investment advice, so make sure to look into it more. 

It is also worth pointing out that WaBi has been in the works for about 3 years now and is starting to get implemented this coming year. So the train is beginning to leave the station if you know what I’m saying.

The coin has a $85,797,962 USD market cap with  total supply of 99,218,023 total supply. To me, its unclear how much more this coin will grow, but the technology behind it should be successful and could grow very big.

While i was not providing investment advice, just stating what i found, i did it include everything since it would’ve been a long post. So if you have further questions, please ask below. Ill be happy to answer them :)

@vimukthi