Disclaimer
This is not a financial advise nor I’m a financial adviser. The information shared in this blog is only my personal views. Data used to create this blog is mainly based on Walimai Official website & WaBi’s Whitepaper (Now rebranded as "Tael").
WaBi Token
WaBi token are digital asset/token issued by Walimai, A chinese organization which is creating a blockchain based safe-channel ecosystem for consumer products – such as Baby foods, Other edible products, Beverages such as Alcohol & pharmaceuticals.
Walimai Vision
Walimai has spent good 4 years to pinpoint actual problem of consumer products ecosystem. They started off in September 2013 & started operations in February 2014. Entire 2015 was spent developing the working product. In 2016 They launched IOS & Android based application. Which could authenticate RFID Labels through Phone.
Problem
Adulterated food & Beverages, Fake baby milk, Fake Medicines, counterfeit alcohol.
72 dead in Siberia after drinking counterfeit alcohol – ABC News (Dec 22, 2016)
72 Deaths due to Counterfeit alcohol
More than 80 dead from drinking Fake alcohol in Indonesia – CNN News (April 18, 2018)
80 dead from Drinking Fake Alcohol in Indonesia
582 Million of cases of 22 different food-borne diseases experienced Worldwide – WHO 2010
351,000 number of associated deaths due to Adulterated food – WHO
Global trade in fake goods worth nearly Half a Trillion dollars a year – OECD & EUIPO
Solution
Creating a secure Link between Physical and Digital assets, solving unique challenges in both domains because as of now Blockhain is only being used to secure Digital assets.
WaBi will solve these problems by these unique technique –
- Unique RFID Chips.
- Anti-cloning protection with dynamic data
- Anti-reuse protection with fragile structure
WaBi Token use
Tokens can be used as loyalty point with safe retail channel. Consumers can buy products with WaBi tokens.
WaBi tokens are ERC-20 Tokens with a total supply of 100 M & circulating supply of 56 M. Current market cap stands at $17 M. Currently WaBi sits at $.30 (3893 Sats) which is very cheap given the low supply, low market cap & the problem they are trying to solve. WaBi tokens can be purchased from following exchanges – Binance, IDEX & Kyber Network.
Once it hit more exchanges, you may expect a price surge soon. They can be stored in following wallets – MEW, Meta-mask or any other ERC-20 Compatible wallet.
Walimai Team
Walimai Team is being led by Alex busarov & Yaz Belinskiy, who is graduate from London school of Economics & Oxford university respectively. Both of them have proven track records & you may visit their linked profile for more information.
Conclusion
There are a lot of work to be done to make consumer products safe but Still i see WaBi achieving their goal successfully given the tremendous Leadership & the market they cover right now (China). They are going to be leader in consumer product ecosystem & when they do, WaBi demands will be exceptionally high.
WaBi Resources
