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ICO REVIEW
Worldcore (WRC)
Payment insititution expanding into blockchain
CONCLUSION
- Idea: 9/10 - the idea to expand business through ICO isn't original but I like it
- Documentation: 10/10 - fantastic looking
- Product: 8/10 - company is established and working with clients, blockchain usage pending
- Team: 10/10 - very old company that's already out there with over 40 experienced employees
- ICO conditions: 8/10 - high hard cap but 87% of tokens available make the total market cap decent
CONCLUSION
VERDICT
Verdict: 9/10
There isn't much to say about Worldcore - it's a simple project that's basically equates to stock holding in the company.
Short term: Predicted market cap is $100 million - this wouldn't even put the project in the top 50 cryptos. Worldcore is an established company with working product so I see why it shouldn't be ranked higher than projects without any actual product.
Long term: All depends how well the company is doing. I predict the tokens increasing in value significantly before payout so there might be some interesting pump and dump happening.
VERDICT
Good, bad and risks
- The good:
- team
- exisiting products and markets
- documentation
- The bad:
- hard cap is a bit high
- token really doesn't do anything apart from income from holding
- Risks:
- the company won't generate much income so the tokens won't be valuable
Idea
IDEA
- Worldcore is a regulated payment institution that was created in July 2014. It holds EU license granted by the National Bank of Czech Republic. The current annual transaction volume is expected to exceed EUR 100 million by the end of 2017.
- It can process all the card payments independently without using other financial institutions and can also store all cardholder data of those transactions on its servers.
- Worldcore is planning to get involved in blockchain space through variety of services.
- The fund from ICO will be used to expand and are esentially shares - I like this idea, it will allow them to expand and holders will get income.
9/10
DOCUMENTATION
DOCS
- Website is super flashy and looks exteremly high budget
- Whitepaper has 73 and looks super professionally done includes everything you would like to know about the company.
- FAQ is addressing most of the questions
- Team description includes links to LinkedIn, Worldcore has a page on LinkedIn as well
- The most polished ICO I have ever seen - everything looks high budget and super professional. I really recommend you to watch their Youtube video as well!
10/10
10/10
EXISTING PRODUCT
EXISTING
PRODUCT
- There is no actual product per say - the money raised from the ICO will be used to develop several new developments and implementations.
- Worldcore is eventually planning to switch to blockchain based but it will probably start with the basics
- The company has already been out for 3 years and is providing a variety of payment services while generating profit as well.
8/10
8/10
PRODUCTS
MORE DETAILS
- Payment Account for bank transfers
- ●Worldcore prepaid debit card and virtual cards
- ●Mass (batch) payments
- ●PayAnyCard (Card loaded with cryptocurrencies)
- ●Smart Invoicing
- ●Checkout for merchants (SCI)
- ●API for automated payouts
- ●Solutions for crypto community
- ●Affiliate program
Planned blockchain services:
- UK-regulated Blockchain-powered P2P lending platform
- Blockchain-based cash transfer platform for easy and instant conversion of cryptocurrencies into cash and vice versa
- other crypto related services
SIMILAR PROJECTS
- There will be plenty of competition that concentrate on payment processing as well as cryptocurrency banking and cards (Change Bank, Bankera, Hero, Lake Bank, TenX, Centra, Monaco, Token Card)
- Worldcore is already working and has clients so it shouldn't have any issues with introducing blockchain gradually.
- There is also so much potential in this blockchain based payment services that competition at this stage shouldn't be an issue.
TEAM
TEAM
- Company behind the project was established in 2014 and has over 40 employees.
- Based in Czech Republic
- Generated around 323k Euro profit in Q1 and Q2 2017
- Specialties: ●
- Currency exchange services.
- Recharge mobile phones
- International money transfers
- Bank transfers
- Several partnerships as well
- Twitter: @worldcoresocial
- Company website: https://worldcore.eu/
- ICO website: https://worldcore.com
10/10
ICO
ICO
- Presale launch: October 2, 2017
- actual ICO: October 14, 2017
- ERC20 token, accepted token ETH
- yearly profit divided between holders on March 31 each year
- 1 billion tokens
- 87% for sale (presale and main sale)
- 10% team
- 3% bounties
- bonuses: 10% pre-sale, 5% first day of the sale
- 1 WRC = $0.1
- MAXIMUM CROWDSALE CAP: $87 million hard cap
- PREDICTED TOTAL MARKET CAP: $100 million
- All unsold tokens will be burned.
8/10
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