World peace coin Basic Review
|Start ICO||25 Mar 2018|
|End ICO||25 Apr 2018|
Name: WORLD PEACE COIN
Ticker symbol: WPC
Project Type: Cryptocurrency, FinTech.
Extended company description: WPC is a cryptocurrency that creates credit opportunities for people who have no bank account or access to financial services.
Company: World Peace Project Pte Ltd.
Public ICO Start: Mar 25 2018
Public ICO End: Apr 25 2018 [White Paper]
Token Sales Duration (weeks): 4.4
Total number of tokens issued: 2,500,000,000 [White Paper]
Tokens Available (Pre-Sale + Public ICO): 250,000,000
Price of 1 WPC: 1 WPC = 0.27 USD
Accepted payments: ETH, BTC
Bounty: not announced
Token role: Functional
Team (number of persons): 7
Advisors and partners (number of persons): 3
Twitter: Posts: 30, followers: 52
Facebook: Subscribers: 154
WORLD PEACE COIN — a cryptocurrency that creates credit opportunities for people who have no bank account or access to financial services. [Website]
WPC cryptocurrency, created using blockchain technology, enables real-time settlements with low transaction fees.
WPC will provide the following services:
- providing loans to populations of developing countries
- cryptocurrency mining [White Paper]
Yoshiaki Saiga - consultant on AI
Yuki Miyawaki — consultant on cryptocurrency
Hidetoshi Nakano — legal advisor
According to a team representative, the project has a partner in Myanmar posessing a broad audience. This partner is one of the reasons why the team decided to launch in this country. They already have partners in the Asian region who are focused on Cambodia.
Attracted investments: N/A
The project is based on a cryptocurrency and payment structure. Attention from the blockchain community to the project is currently low.
Strengths of the project:
- The selected lending market for developing countries is growing, which creates opportunities for new players in this segment.
Weaknesses of the project:
- We think that the business model of the project is not well explained, and that processes for working with users have not been detailed.
- The selected market segment is marked by a high rate of loan defaults, which could have a significant impact on the liquidity of the project's assets.
- There is no information on the project’s advisors in the public domain, including Linkedin.
- There is no information available on project staff in the public domain, including Linkedin.
Market and industry
According to Statista, the world market for P2P lending in 2015 was $64 billion. Based on the CAGR given by Statista (56%) and TechNavio (53%), we expect that at the end of 2017 the potential market for the project will be over $152 billion. (and that by 2025 the market is expected to grow to 1 trillion dollars [Statista]).
With regard to the market for P2P lending in the Asian region, Allied Market Research predicts an annual growth rate of 54%.
[https://www.technavio.com/report/global-miscellaneous-peer-peer-lending-market]; [https://www.statista.com/statistics/325902/global-p2p-lending/]; [http://hitechnewsdaily.com/2017/12/peer-to-peer-lending-market-expected-to-reach-460312-million-globally-by-2022]
According to the white paper, the current world population is about 7.6 billion. About 2.5 billion people do not have a bank account. [White Paper]
Comments: The P2P lending market shows a high rate of growth, and it is therefore possible to take up a niche in the market. It should also be noted that the Asian market for P2P lending (which WPC plans to take on first) is also showing growth, but mainly because of the growth and popularity of this type of loan in China.
In the course of the study, we identified the following competitors in the field of P2P loans:
Lendoit — a P2P lending platform
Loanbit — a credit-investment, multi-currency and multi-functional online platform based on blockchain technology
SALT — a P2P lending platform
In addition, the following competitors can be identified:
Summary: The main differences from competitors are the tools used for lending, namely the PoL platform function, where the distribution of WPC occurs through nodes and a common "mother" wallet; as far as competitors are concerned they access platform user assets. [White Paper]
Engineering features of the platform
The platform will function as follows:
- A borrower submits a loan request.
- The lender sends a request for money transfer.
- TSUMUGI calculates a credit rating and examines the transaction.
- The borrower's and the lender's requests are then accepted.
- Providing the loan to the borrower in accordance with the established credit rating limit. [White Paper]
The WPC cryptocurrency is built on the basis of blockchain technology. This blockchain is characterized by a block generation time of 2.5 min, and a block size of 1 MB.
WPC is also built using Proof-of-work and Proof-of-Stake until 2020, after 2020 the team plans to move to Proof-of-work and Proof-of-Lending, which provides an opportunity for holders of WPC to mine during financing.
Proof of Lending (PoL) is an original means of obtaining WPC: WPC holders in developed countries finance WPC users in developing countries. Anyone who has WPC can be a miner.
A developed TSUMUGI system using AI technology is used to calculate credit points. [White Paper]
Comments: Note that the reward for mining WPC in the first year will be 1200/block, and then it will be reduced by 100 each subsequent year.
In the future, with the development of the technology and the amount of data it is planned to implement the following:
- October 2018 — launch of the PoW platform in Myanmar;
- October 2020 — start of PoL. [White Paper]
Comments: According to the roadmap, the team will complete its work on the platform in 2020. Until then, it will be developing PoL.
The project has no GitHub account. On this issue, the team states that the code was not yet published due to the lack of time.
Summary: Currently, the platform's mechanism is poorly described; there is no description of user interaction, no open repository, and the steps in the roadmap do not reveal development details. However, the mechanisms of functioning for WPC are similar to Bitcoin, and in our view there is no doubt that it is possible to issue it.
We checked the site and the documentation of WORLD PEACE COIN for sufficiency and consistency in order to make an investment decision.
The documentation consists of a white paper available in English. The submitted documents do not describe WORLD PEACE COIN in sufficient detail. The strategy for implementing cryptocurrency in the market, business model, mechanisms of user interaction with the cryptocurrency and the role of the WPC token are not fully disclosed. [White Paper]
The website also provides information about the project, the staging of the public ICO, the plans for WPC distribution, advisors and the team. The site is available in Chinese, English and Japanese. [Website]
Summary: The documentation does not give an insight into the project because the processes for its users' interactions are unclear. You can contact the project through Facebook.
Tokens to be issued for sale,%: 10%
Public ICO Start: March 25, 2018
Token type: ERC20
Accepted payments: ETH, BTC
Price of 1 WPC: 1 WPC = 0.27 USD
Crowdsale duration: 4 weeks, until 25 March 2018
WPC — payment tool; a token based on ERC20.
Token limit: 2,500,000,000
Advantages of token holders: the tokens are functional which allows you to either use the platform services or sell them (tokens).
Max Goal: $50,000,000
Minimum Goal: $10,000,000
Pre-ICO: 1WPC = USD 0.22
ICO: 1WPC = USD 0.27
Tokens are sold in several stages:
- A pre-sale was held in October.
- Pre-ICO: December 20, 2017 ~ 20 January 2018.
- ICO: March 25, 2018 ~ April 25, 2018.
Comments: 5% of WPC sold will be available for conversion and exchange on major cryptocurrency exchanges from June 2018. [White Paper]
The project team has not yet presented the project's Bounty program, but it is being carried out on an individual basis.
Token and capital distribution
Token and Capital Distribution Scheme
- 10% (250,000,000 WPC) — donation from the project to developing countries.
- 10% (250,000,000 WPC) for sale at the ICO.
Summary: The project did not provide information about distribution of the tokens.
Tokens do not affect the distribution of shares in the company. The reward system is set up so that it is more profitable to buy tokens earlier.
The project team has presented the following roadmap:
- June 2018 — start of work with CryptoPie on the exchange of cryptocurrency.
- June 2019 — integration into the South Asian market (Philippines).
- April 2018 — integration into the South Asian market (Vietnam, Cambodia).
- January 2019 — integration into the South Asian market (Indonesia, Laos).
- January 2022 — integration into the American market (Guatemala, El Salvador).
- October 2023 — integration into the American market (Panama, Nicaragua).
- January 2025 — integration into the African market (Egypt, Gabon, Djibouti, Lesotho, Botswana, Swaziland). [White Paper]
Summary: The team has presented plans to expand the project. However, there is no information on how the team will attract partners who will accept WPC as a means of payment. The team plans to spend 250,000,000 WPC on developing the platform’s infrastructure and on collecting data on borrowers; according to the project's plans, Myanmar will be the first country to accept WPC.
The team consists of 7 people, as well as 3 advisors. Information on the core members of the team (LinkedIn):
Yoshimitsu Sekine - CEO of CryptoPie corporation.
Kyon Yoshihara (LinkedIn) - Direct Marketing Manager.
Nozomy Nakazato (LinkedIn) - Project Chief.
There are four more people in the team.
Comments: We could not find public information about the previous experience of all the team. On Facebook, we found the CEO's profile, where he indicates his affiliation with WPC.
Summary: Unfortunately, we could not find most of the members of the team on Linkedin. The information available on team skills and experience is not sufficient to form a clear view. The team also has the following experts: A project chief in Myanmar, project representative, analyst, and account executive. There are no experts specifically in the field of blockchain technology apart from blockchain advisor Yuki Miyawaki.
Information about the project is available on Twitter and on Facebook. There is no Bounty program.
The project has virtually no activity on social media. The team update news on Facebook and Twitter.
The format of the articles on the project shows that they are mostly written as an announcement of the future ICO.
Comments: The level of interest in the project is low. The main marketing campaign is deployed on Facebook. [White Paper]
Analysis of website traffic based on Similarweb.com data showed that:
Comments: 100% — direct link traffic
Search traffic: 0%
Referral Links: 0%
Analysis of the site traffic based on Alexa.com’s data showed that the number of views of the site is 3 690 per month and the number of visitors is 920. [https://a.pr-cy.ru/worldpeacecoin.io/]
Summary: Based on the available data, it can be concluded that users are not yet interested in the project. The team is communicating with users on Facebook. There are no dedicated threads on Bitcointalk and Reddit.