WABI token research

Today Few days ago I promised to @cali-girl to do some research about WABI token, so, here it is.

I'll start with information, that it's SOLELY MINE research (it took around 20 minutes actually =) ) and my opinion might be wrong, not true and so on, but I don't really care about that =)

First of all, WaLiMai (company behind WABI token) is planning to fight counterfeiting worldwide. LOL
How will they do it? some patented (actually, not! Patent pending (priority from March 2014) according to https://angel.co/walimai ) RFID-based technology. Actually, speaking about the technology, this part is interesting and worth reading:

One of the crucial security ingredients of the Walimai anti-counterfeiting system is the state of
permanent flux created by the dynamic codes that update the system state with each scan.

https://resources.wacoin.io/WaBI_Whitepaper_ENG.pdf

Page 12 or something like that

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Who's behind the WaLiMai company?

Александр Бусаров (russian for Alexander Busarov, co-founder) is not really a pro in fighting fake products. In fact, he's working "somewhere else" but seems to be in China (link to that info http://moscow-consulting.com/our-people/alexander-busarov)
Ярослав Белинский (russian for Yaroslav Belinskiy) for some reason, called Yaz on wabi website... Cannot find much about him, just probably studied together with Busarov. This link might give you some information (the guy looks alike, as I think) https://www.facebook.com/popel.agency/photos/gm.1641793626106899/946792832031732/?type=1&theater

Speaking about the company WaLiMai, it has "up to 10 workers" only. and this is the info 1 month after a successful ICO
https://angel.co/walimai/jobs

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All this seems to be funny. All I can see is, 2 russian guys, working in china, got fed up with fake everything around them and decided to fight fake products. One of them (Alexander) seems to have his baby born around half a year ago because "the company" is too concerned about the goods for the babies. They even have the shop opened already - O2O (more info in their whitepaper).

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Let's sum it up.

It doesn't matter how pathetic the idea is (you basically cannot fight fake goods being in the middle of the #1 Fake Goods Factory (China) and not letting it's citizens to participate in ICO ) you can still succeed if you pay for awesome coverage in mass-media (BBC, USA Today) and some governmental support from russian prime minister (the most fake prime minister ever) and chinese PM.

Their ICO was a success - check it out here https://etherscan.io/address/0x286BDA1413a2Df81731D4930ce2F862a35A609fE#tokentxns

By the way, check it once again. You see something strange here?
I can see 62 mil tokens sold
I open the whitepaper and I can see:
Total supply - 100 mil
PreICO - 10 mil
ICO - 46 mil
Reserved - 35 mil

And yeah, what the hell is a PRO token and why would someone send some of this token to the contract address?? =)

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After all I've seen and read, I'd say, token doesn't have any bright future, because there's only mass media hype about it and no really good and working idea behind it.
I mean, come on, you cannot just decide to fight fake goods and win. There's a huge industry behind fake goods, and it's much bigger than you can ever imagine. You need billions of dollars to fight that, millions are just funny against it.

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@cali-girl, if all the text above is still not reasonable enough to you, here's an example:
Apple is trying to fight fake iphone production for years. Had they succeeded? well, I'd say, this statement is around 70% true. Now compare Apple Inc vs WasaBi company (or whatever it is called)

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Hope, this helps