With many thousands of projects already out there in the cryptosphere and many more in the pipeline, what differentiates WORBLI from the herd? The moniker ‘WORBLI’ stands for ‘World Blockchain Initiative’ an ambitious title indeed. Blockchain offers a world of new decentralized applications allowing trustless peer-to-peer transactions. However, this freedom from oversight is not suitable for all transactions or jurisdictions. Many companies find themselves unable to leverage blockchain technology due to their inherent KYC and AML obligations. This disconnect between blockchain opportunity and real-world financial oversight is one of the key areas where WORBLI is targeting its efforts.
Testnet already running on EOS software. / Public network to launch November 1st
Token: WLI (ERC-20 until migration)
Initial supply: 2.5 billion
Token Distribution: 40% Sharedropped to EOS holders / 20% reserved for non-profit WORBLI Foundation / 8% Founders / 19% Private fundraising + pending Public funding rounds
Annual Inflation rate of 6%
Sharedrop: (KYC required to as part of the claim process) to EOS holders on a 1:1 basis / Snapshot: generated on Sept. 7th
What problem does WORBLI seek to address?
“Compliance is the key. It has to be at the core level of the chain. It has to be in the governance. It has to be in the block producers.”
Domenic Thomas Co-Founder and CEO of WORBLI –An Interview with WORBLI
WORBLI is focused on providing globally compliant financial services to both end users and merchants, leveraging the robust attributes of EOSIO. In essence, it plans to facilitate decentralized bank-like applications offering a full range of easily accessible services such as user single sign in accounts, savings services, debit cards, fund security, and recovery, as well as seamless movement between other cryptocurrencies and fiat. Of key importance, is the synergistic relationship between EOS and WORBLI. They are complementary to each other and the success of one does not impede but rather promote the success of the other.
What does the project bring to market that’s not there already?
The fusion of the speed, scalability, lack of fees and adaptable governance of EOS software with reliable KYC and AML procedures targeted to the financial services sector is a potentially compelling offering. EOS software can scale to meet the needs of the network and this is precisely what is required with enterprise-grade applications. Of course, there are competitors, but the underlying software gives WORBLI a significant advantage. The table below highlights the broad range of use cases WORBLI aims to service:
Source: WORBLI Whitepaper
What can we infer from the team?
The team has many years of relevant corporate experience with full LinkedIn profiles available for key members.
Currently, the team has 20 full-time employees with an additional 20 or so part-time members and ten developers working on the core project. The growing roster of 31 Masternodes (Block Producers) adds approximately 120 more. So, plenty of corporate experience merged with a reasonably large and growing team. All team numbers are sourced from Admins on WORBLI Telegram.
What are the identifiable ‘tokenomics’?
WLI is evidently interwoven into the WORBLI business model. It functions in a similar manner to the EOS platform. Token holders gain access to the network’s computer power, data storage, and bandwidth. Use of the network will require WLI so the success of the platform should flow to the token. Ram trading, and as WORBLI is already partnered with Chintai, staking, may also be integrated at some point. As the network becomes busier, demand for WLI will also rise in tandem as transactions onchain will occur using the token.
Is the project on track?
The progress of WORBLI from inception to near public launch has been very impressive. The onboarding of trustworthy validators many of them the most reputable BP’s of EOS has also been excellent. The roadmap is detailed with targets generally being met and in some cases exceeded.
November 1st is the key date for the public network launch and users will be able to open accounts, claim WLI and transact with wallet integration available at launch.
Does WORBLI have a strong community and is the project currently active?
At the moment, the community is small but growing steadily. WORBLI Twitter has 763 followers with 343 Tweets. Telegram has 2246 members and when researching this article, the admins are very responsive and helpful. WORBLI’s Medium and Steemit sites host many up to date articles and interviews. With the sharedrop going to approximately 330,000 EOS accounts, WORBLI has a ready-made user base to work with. The project’s commitment to engaging the community is demonstrated by their establishment of a WORBLI Network Fund (WNF) which will be funded at the rate of 1% of total supply adjusted for inflation and which will receive funding on a daily basis. Based on community voting, the WNF will select which dApp proposals are issued development funds.
Taken as a whole, WORBLI is an immensely exciting project which has the potential to successfully marry the software advantages of EOS to a compliant financial services platform. EOS holders are in the enviable position of being able to participate in WORBLI from inception and thus find themselves in an unusual win-win position.
Interested in learning more about WORBLI?
WORBLI FAQs: https://www.worbli.io/faqs/