What is Worldcore?
Worldcore (WRC) is a payment processing company which utilises traditional and Blockchain based models to process payment and is currently introducing its own token currency WRC.
How it works
With a Worldcore account, you can many things. You are given a Prepaid/Debit card which can be topped up with fiat and cryptocurrencies.
Presently, to use cryptocurrencies for payments, the vendor must have a cryptocurrency wallet and should be willing to accept payments in crypto.
Once you have a Worldcore account or card, simply load it with any cryptocurrency or fiat currency of our choice. Then you are free to send and receive money worldwide, convert your crypto assets to get fiat currency, perform a mass payment or even recharge your mobile in more than 170 countries. You can receive payments using the same account. In fact, the company provides an API to integrate with most CMS platforms so that the users can check out using their Worldcore services.
While they are already partnered with Visa, MasterCard and UnionPay, they are also planning to integrate other major providers like American Express.
How does the blockchain come into it? Worldcore is actually planning to offer all these services using the Ethereum blockchain network where payments are processed using smart contracts.
The Worldcore ICO
WRC is the native token which runs on the ecosystem and Worldcore is selling these tokens with an ICO. The pre-sale launch starts from October 2nd, 2017 and the public crowdsale (ICO) launches October 14th, 2017.
The ICO token price 0.1$ per token. There are bonuses, as usual, 10% for the pre-sale customers and 5% for the day 1 ICO customers.
The token distribution keeps 3% for counties and 10% for the Worldcore team which makes 87% of the tokens available during pre-sale and ICO. As the ICO has a hard-cap of 1,000,000,000 tokens, a total of 870,000,000 tokens will be available for the public. The tokens which are not sold during the ICO and pre-sale will be destroyed.
The initial target of the ICO is $5 million while the hard-cap is $100M.
Things we liked:
Payment comfort: We always wanted to use our cryptocurrencies in real-life. What good is your coin if you can’t pay on Amazon, eBay or your local grocery store with it? With the Worldcore debit card, you can do these.
Distribution model: Only 10% of the coins are held by the Worldcore team. This is such a relief from the ICOs where teams withhold over 40% of the tokens. With that low holding, they will not be capable of price manipulations of sabotaging the market.
Profit sharing: 30% of the profits made by the Worldcore team will be shared with the WRC token holders. Now, remember, Worldcore is already running profitably. Therefore your coins are bound to bring home dividends. At every financial year-end, March 31st, expect your dividends to come knocking.
Financial Record Inspection: Once you invest over $50,000, you get access to the real-time financial report of Worldcore. This will surely enhance the transparency of their operations, enabling you to see if everything is going well. You can make your entries and exits easily if you want to trade the coins.
Strong security: They use fingerprint recognition, face recognition and voice recognition as passwords which are yet to become standards. We like their futuristic approach.
Fully Functional Mobile App: The mobile app is decent enough and provides almost all the information on the go, compared to the desktop version. The app also facilitates almost every transaction a desktop user would perform.
Some things were less amiable:
Not a Unique Idea: Wirex is already offering a crypto credit card, it can be found here.
Lack of Information: There is no clarity how the money is kept. There is hardly even a flowchart on the website with a 73-page long whitepaper which tells us how it operates exactly.
Lack of Disclosure: Frankly, they did not state what rate they offer for crypto-conversion or when they convert (real-time or otherwise) the coins to a fiat currency.
If you think that Worldcore will succeed go ahead and invest – there are no big red flags! As always, it is ultimately up to you to make the right choice!