WaBi Guide: The Youngest Class Of Cryptocurrency Explained

Wabi is one of the younger generations of cryptocurrencies and facilitates purchases on the Walmai platform by filtrating the original and counterfeit products thanks to its anti-counterfeit technology. In our Wabi guide today, we will discuss why this coin exactly is gaining traction because of the claim to free the ecosystem of fake goods.

Wabi is an open platform that provides support for the anti-counterfeit system and the cryptocurrency is denoted by the symbol WABI. The total supply is 99.2 million WABI and it is used as a unit of exchange in the protected goods ecosystem. The pre-ICO started on the 28^th of July while the main ICO launched on 28 November 2017 with a price of 0.25 USD per token.

The Wabi guide will also show you what the crypto is used for. For example, it can be used to avail special discounts and improve the delivery terms and bonuses with the purchases. It will use the Radio frequency identification and the near field communication as a base for the counterfeit technology. The project is based in Singapore but the main activities happen in China. It has made special provisions in order to comply with the rules of China. The platform was co-founded by Alex Busarov and Yaz Belinskiy who aimed to expertise the engineering and sales marketing team and to boost the Chinese market.

The Walimai label is put on all of the goods that are moved through the designated point of origin along the supply chain and the label will connect the good with the digital representation in the cloud that contains a unique ID, geographical data and dynamic code. The consumers can review the data by simply scanning the Walmai app and set the digital objects stored in the cloud which will be sent for public verification. The results of this process will be delivered to the consumer and the consumer can verify the authenticity of the product in order to get relevant information.

WaBi blockchain provides a secure method to verify the product through geo-stamping and through its distributed record verification which cannot be modified by the creators. The platform offers a few interesting features which make it unique from most other cryptocurrencies. The crypto doesn’t want to be a store of value or a computer of sorts but it simply has a goal to act as a tool to fight fake products and ensure authenticity.