A new Chinese ICO WaBi has announced its launch date which will be on November 28th.
This ICO has a very good potential. It aims to solve the problem of fake goods that plague Asia. Especially it concerns food and pharmaceuticals. Their whitepaper mentions the scandal that occurred in 2004 when 63 babies died in Fuyang and rural areas of Anhui after consuming fake baby milk. Another food scandal refers to 2008 when 6 infants were killed and 54.000 hospitalized.
WaBi offers a solution to this problem by “linking digital and physical assets through RFID labels with anti-copy functionality”, as they say in their whitepaper. It means that they use blockchain technology together with RFID tags to guarantee that the product is real. When the seal breaks, it’s a signal for blockchain that the product isn’t authentic.
The team working on the project counts 10 people. Also, they use some experts’ advice.
The mobile apps are already available for download, which means that the technology is already operational. Also, the team has already received many positive reviews from the pilot customers.
More information about the ICO may be found at the links below.
Telegram channel t.me/wabi_ico
A subreddit on WaBi www.reddit.com/r/wabitoken