WaBi Review

Looking for a WaBi Review? You’re in the right place. Today we are looking at WaBi ICO and we are going to share our full review. If you’re wondering whether it’s a scam or a legit ICO keep reading as we will reveal everything.

Lets dig more into WaBi review!

Walimai, the business behind WaBi, is a business that establishes solutions to guarantee item authenticity. It puts protected anti-counterfeit labels on customer products in China and worldwide.

Walimai's operations are mainly in China, which suffers from counterfeit in products such as infant formula, cosmetics, and alcohol. In order to resolve this issue and offer confidence for customers, the company has actually developed RFID labels with anti-reuse design, in addition to mobile Apps that integrate with the labels.

Walimai label is applied to the product at the point of origin and is scanned throughout the supply chain. After customers acquire the products, they can scan the items with Walimai app, which would then reveal whether the product is initial and the product's previous areas and timestamp along the supply chain.

How sophisticated is the task?

The idea of Walimai was developed in September 2013. Throughout 2014 and 2015, the Walimai group was taken part in a strategic turn-around project for one of the most significant baby formula manufacturer.

In 2015, it won a development grant from Jiaxing city municipal government and was included in Zhejiang province, China.

In 2016, its mobile app was launched in iOS and Android, along with a new version of RFID label that was established.

Walimai began sales online in December 2016, which got positive feedback and high conversion/retention rate, and began offering through physical infant nutrition stores in May 2017.

Stay Updated With Exclusive Information About Cryptocurrency
This Will NOT Be Anything We Post Here!

Below is the future roadmap for the project:

December 2017– Activating sales of Walimai protected items through WaBi. More child stores sell Walimai protected items. Start of sales of alcohol with Walimai labels.

2018– Start of partnerships with manufacturers and suppliers of baby food and alcohol. Changing Walimai technology for pharmaceutical items.

2019– Extending use of WaBi to other locations: 1) Loyalty programs by product producers, 2) Partnerships with insurer, 3) Product insurance.

Exactly what are the tokens utilized for and how can a token appreciate?

WABI works like a loyalty program for Walimai products. Its uses for merchants and consumers are detailed listed below.

Merchants

Merchants will be required to utilize WABI token as commitment points in order to sell through Walimai's channels. They have incentives to do it since customers rely on the Walimai brand name and are willing to pay a premium.

They can utilize WABI token to successfully give a discount (consumers who purchase the products will get some tokens, which be utilized to redeem something in the future) or use more sophisticated methods (e.g. purchase the second product and receive WABI tokens, or refer your buddy and get the tokens).

Stay Updated With Exclusive Information About Cryptocurrency
This Will NOT Be Anything We Post Here!

Consumers

Customers can use WABI tokens to receive discount rates on products sold in Walimai's channels. They would have to top up their WABI balance to be able to utilize the discount, hence producing additional need for WABI tokens.

For example, if a consumer has $1 worth of WABI and wishes to buy a $10 item, he will need to buy another $9 worth of WABI and pay the product with WABI token.

The business likewise prepares to allow users to have gift cards where they might purchase some WaBi as a gift for another person to utilize.

As consumers can scan Walimai products to make WABI tokens, which can be used for discounts on products, the more deals generated on the Walimai channels, the better WABI tokens must be.

Team

WaBi has a team of 10. The bios of the crucial members are listed below:

Alex Busarov, CEO– formerly Strategy/ Sales Director for a leading infant food company, founder of EarlyBird, a fundraising platform for startup jobs in China, and Consultant of McKinsey in Moscow and Dubai.

Yaz Belinskiy, Co-founder– formerly Associate Consultant of Bain, and Business Development Manager of LP Amina Energy and Environmental.

Cat Xu, Marketing Director– previously Business Advisor of Wofaro, a flower style start-up, Marketing Manager of RS Components, and Senior Account Manager of Text100, a global marketing interactions firm.

WaBi's consultants include Mario Pazos, previous Regional Prepaid & Personal Payments Head at Mastercard, Igor Livant, previous Executive Director of Goldman Sachs and Associate Principal of McKinsey, Long Chiu, former Director of Digital Commerce Development of Mead Johnson Nutrition, and Mark Zavadskiy, Business Development Director of Aliexpress.

Stay Updated With Exclusive Information About Cryptocurrency
This Will NOT Be Anything We Post Here!

Opportunities

WaBi's closest blockchain rival, Walton, has a huge market cap of $130 million while WaBi is more advanced in regards to advancement. Walton has actually signed MOUs (Memorandum of Understandings) with numerous companies, but MOUs indicate hardly any in China as the parties of the MOU are not contractually committed to anything.

Walimai is a good candidate to take advantage of the macro trends in China:
China simply phased out its one-child policy in 2015, which will increase the demand for baby items.

China experiences counterfeit products and the Chinese want to pay a premium for quality. For example, they pay a premium for child formula imported from abroad partially due to the fact that the authenticity is guaranteed.

The project has strong employee and consultants who can really help the business advancement of the task.

The company has actually put in place a treatment to prevent discarding of pre-ICO participants (who contributed $300,000 at $0.03 per token in August 2017). WaBi provided 2 alternatives for those individuals: (1) To lock tokens for 3-6 months and get 5-10% bonus offer, or (2) Sell the tokens back to WaBi Project at the ICO cost. This will prevent them from costing exchanges listed below ICO price.

Issues

Although the Wabi Project is based in Singapore, Walimai's operations are generally in China, which goes through a lot of regulative dangers associated with cryptocurrency.

Conclusion

In general, we like this ICO both for its flipping and long-term potential. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Excellent. The task's tough cap, group, company idea, and market awareness are all above average. However, due to the hype surrounding the task, the individual cap for the ICO is most likely going to be low.