WaBi is the world's first crypto coin that engages consumers to combat counterfeits. The WaBi loyalty program will be built on top of the Walimai safe channel for consumer products, which is supported by Walimai’s secure anti-counterfeit technology. Initial sale of WaBi coins (ICO) will start on 07 November. Buyers of baby food, alcohol, and other products can mine WaBi by scanning products protected with Walimai's RFID-based anti-counterfeit labels with a special APP (available for free download from iOS and Android APP stores). This process verifies product authenticity of individual products prior to purchase, and also ensures collective security of all users: each scan renews the data held in RFID labels as well as the backend system data, thus supporting the system-wide security level.
"I believe WaBi coin is uniquely positioned on the market. We designed a coin for consumers to mine and purchase authentic FMCG products. " Alexander Busarov, co-founder of WaBi Project and Walimai, says. "We have a long term vision of becoming THE safe omni-channel, where consumers will be able to confirm authenticity before purchasing the products. We are happy to see that consumers in our test market (China) are already purchasing the products protected by our proprietary RFID-based labels at premium prices. It is a strong testimonial for our business model. "
“In a flood of ICOs, WaBi piqued my interest by being a real-life working product, meant to solve a very serious issue of product counterfeiting in Asia.” says WaBi Project adviser Igor Livant. “Wabi is going to be one of the first cases where Blockchain technology is used to solve a real problem. I couldn’t be more excited to be part of this project and combat counterfeiting like it has never been done before.” says WaBi Project adviser Mario F. Pazos. "I am excited for WaBi as it will revolutionize traditional loyalty programs by putting the consumers in control of when, what and how they are rewarded, all while providing the peace of mind for the products they purchase. I’m thrilled to play a part in what would be the new standard for loyalty programs and anti-fake systems. ” says WaBi Project adviser Long Chiu.