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September 18 2017

ICO Alert Report: Worldcore

ICO Alert Report: Worldcore

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What is Worldcore?

Worldcore is a digital alternative to traditional current bank accounts with a wide range of cutting edge payment solutions, including plastic and virtual debit cards, international money transfers to any Visa, MasterCard and UnionPay payment card issued in most countries worldwide, Bitcoin withdrawals, mass payments and invoices management for companies, checkout solution for accepting payments on websites, card acquiring for ecommerce, and mobile phone top-up in over 180 countries. The company is already licensed and regulated by National Bank of Czech Republic and is a PCI DSS Level 1 compliant service provider. Worldcore also provides biometrics authentication options, which enable account holders to access the account by face or voice without using traditional passwords. Another key advantage of Worldcore is the speed of clients onboarding, which usually doesn’t take over a few hours in case application, is completed correctly and documents for complying with AML/KYC policy are readable and valid.
— Alexey Nasonov, CEO and Founder of Worldcore

Pre-sale Information
The pre-sale will begin on October 2, 2017 and end on October 13th, 2017. There is a 10% bonus available throughout the pre-sale.

The price per Worldcore Token (WRC) is $0.10. During this period there will be a minimum purchase of 500,000 WRC tokens. In order to contribute, visit the website or email ico@worldcore.com

There is no set pre-sale token limit on purchases during this period. Tokens will be distributed after the crowdsale ends.

Crowdsale Information
The crowdsale will begin on October 13, 2017 and end on November 13, 2017. 870,000,000 WRC tokens will be available for purchase and tokens will be distributed shortly after the end of the crowdsale.

The amount of WRC tokens received is set at 870,000,000 across a six week period. A bonus of 5% will be applied to purchases on the first day of crowdsale.

— Day 1: 5% token bonus
 — Week 1–6: $0.10 = 1 WRC

After the crowdsale, token holders will be eligible to participate in an annual revenue share, with a total of 30% of Worldcore annual profits being distributed among investors. All unsold tokens will be burned. Visit the Worldcore website during the crowdsale for more information on how to contribute and for the contribution address.

Token Distribution Information
There are a total of 1,000,000,000 WRC tokens being created, with 870,000,000 available throughout the pre-sale and crowdsale. Any tokens not sold during the pre-sale will be available for purchase during the crowdsale.

Tokens will be distributed to contributors shortly after the crowdsale is completed.

Allocation
87%: Presale and public crowdsale contributors
10%: Founder’s share
3%: Bounties

Use of Crowdsale Proceeds
The stated projects beginning development at each fundraising checkpoint are:

$5,000,000 (Q1 2018): Membership in Visa, Mastercard, China UnionPay, SWIFT and SEPA networks.

$10,000,000 (Q3 2018): Launch of UK-regulated Blockchain-powered P2P lending platform with unique features.

$25,000,000 (Q1 2019): Launch of Blockchain-based cash money transfer platform for easy and instant conversion of cryptocurrencies into cash, and vice versa, in 1,000+ pick-up points internationally, including all Worldcore offices.

$50,000,000 (Q2-Q3 2019): Global transformation into a Swiss bank with 
revolutionary investment, loan, brokerage, insurance, and payment products due to great friendliness of cryptocurrency jurisdiction.

$100,000,000: Deeper market development added to the Worldcore future bank capital and used for IPO.

A more detailed list of the stated projects and goals can be found in the Worldcore whitepaper.

Team
Alex Nasonov, Founder and CEO
Linkedin
Alex is active in regulatory compliance, marketing team establishment, and business development strategy at Worldcore.

Igor Prokhorenko, CTO
Linkedin
Igor is an experienced CTO with a history of working in the financial services industry and is skilled in .NET framework, software development, team leadership, project management, and software project management. He is a strong information technology professional with a master’s degree in computer and information security from Voronezh State Technical University.

Sean Patterson, Chief Marketing Officer
Linkedin
Sean has 13 years of experience in strategic business analysis and planning and specializes in digital change initiatives and process improvement. His expertise also includes business planning strategies, project management, presentation design, and UX design. He has given various presentations on technology trends in business management, and digital convergence and innovation.

Evgenii Zhuikov, .NET Team Lead
Linkedin
Evgenii is the senior web application director at Worldcore. He previously held the same role at Hybrid Russia.

Bohdan Taranenko, Chief Administrative and Compliance Officer
Linkedin
Bohdan is currently the chief administrative and compliance officer at Worldcore, and has experience in the same role previous to his time at Worldcore.

Alex Sol, Head of Digital Marketing
Linkedin
Alex has expertise in SEM/SEO/SMO. He has a passion for product strategy and iterative product development, fusing design, and user experience with quantitative analysis. He held the title of CEO at Soloncompany, an international digital marketing agency.

Ilyas Garifullin, C# Senior Developer
Linkedin
Ilyas works on developing the server and client side of online wire transfer service. He also worked on development of service functionality and integration with third-party services. He previously held the role of full-stack developer at Haulmont Technology.

Sergei Surkov, C# Senior Developer
Linkedin
Sergei has over five years of IT experience in design, development, implementation and testing of software applications. He also has experience in different phases of the software development cycle including designing, programming, testing, documentation, presentation, and preparing customer specifications as a part of software technical requirements and customer support. He previously held the role of .NET developer at Luxoft, an information tech and services company.

Sergey Bazilevskih, C# Senior Developer
Linkedin
Sergey has over four years of experience in software development (.Net). He is mainly focused on web development. He previously worked on software development at EPAM Systems.

Daniil Panov, C# and PHP Middle Developer
Linkedin
Daniil is currently a .NET developer at Worldcore. He also works in the development of large projects on Bitrix CMS.

Georgiy Malyukov, iOS Senior Developer
Linkedin
Georgiy is a technically-advanced iOS development specialist with strong experience in low-level Objective-C programming and modern mobile technologies. Previously, he held the role of iOS team leader at Forex Club.

Mikhail Zisman, Android Senior Developer
Linkedin
Mikhail is the senior Android developer at Worldcore. He previously held the role of Android developer at Exadel, and Graph.

Ivan Berezovsky, Quality Assurance Team Lead
Linkedin
Ivan is currently the quality assurance team lead at Worldcore. He previously held the role of quality assurance automation engineer at NOVA / TEST Digital Agency.

Denis Soldatov, Quality Assurance Engineer
Linkedin
Denis is currently a quality assurance engineer at Worldcore. He previously held the role of web developer at NOVA/TEST Digital Agency. He holds a master’s degree in information security from Southwest State University.

Social Media
Blog:​ ​https://worldcore.eu/blog/
Twitter:​ ​https://twitter.com/worldcoresocial
Facebook: https://www.facebook.com/worldcoresocial
Slack:​ ​https://worldcore.slack.com/
Telegram:​ https://t.me/worldcore
LinkedIn: http://linkedin.com/company/worldcore

Q&A

ICO Alert: How is the Worldcore Token (WRC) used within the platform and why is it needed?

Alexey Nasonov, CEO and Founder: WRC token is based on a revenue share model because 30% of the company’s annual profit will be distributed between token holders. The second benefit of WRC token is that it’s backed up by real, rapidly growing business with real assets. With each next step of development, the value of token will grow, as well as the value of company.

ICO Alert: It is somewhat rare in today’s ICO landscape that an established business conducts an ICO. Can you give some information on the Worldcore business and its history up to this point?

Worldcore: Development of Worldcore started in 2014 and the license of payment institution was obtained in the summer of 2014. The first version of our platform was launched in mid-2015, and since that period, the size of our company multiplied. Worldcore currently employs over 40 people, excluding freelancers, and we keep hiring because of the need to speed up development of new products, keep boosting our growth speed, and keep following our policy of same day client onboarding. The company’s annual transaction volume is expected to exceed 100 million euros in 2017. Worldcore provides payment services to over 25,000 individuals and over 900 companies and it’s revenue will exceed 1 million euros in 2017, as we see from current statistics. Worldcore has recently launched global outdoor marketing campaigns on public transport and in Prague International Airport and the company is a member of the Emerging Payments Association, based in the United Kingdom. I was also included in New Europe’s 100 rankings of change-makers in central and eastern Europe by Financial Times as a founder of Worldcore. The company has never attracted venture funding and was built on founder’s funds, so this is the first fundraising campaign of Worldcore.

ICO Alert: What are the advantages of seeking to initially raise capital through ICOs, as opposed to the more traditional IPO structure? You also have plans to hold an IPO at a future date?

Worldcore: Initially, we planned to conduct an IPO, but later, once Worldcore’s value gets higher to get listed on the London Stock Exchange with a market cap around $1 billion. We expected to reach this value by 2020 for sure, but ICO popularity in 2017 drew our attention and we decided to go this way to raise the funds for developing all future products, which we have already planned for upcoming years. This way will help us to achieve the goal even sooner.

ICO Alert: Worldcore has traditionally been a non-blockchain based platform. Why the evolution into this space?

Worldcore: We always follow the trends and we were and still are the first payment institution in the world which implemented two biometrics authentication options. Blockchain is the next step of our development.

ICO Alert: What are some of the blockchain-based products you are unveiling in the near future? Are they currently in development and do they have a specific timetable for integration?

Worldcore: At the moment, we are developing a platform for blockchain asset trading based on blockchain, Worldcore.trade, and we will announce the prototype of this product next week, even before the pre-sale launch.
It will be immediately available to the public as well. The launch of this platform is expected in Q1 2018, so this will be our first blockchain-based product, which will be available for use shortly after the end of ICO. Next year, we are planning to launch an EU-regulated P2P lending platform based on blockchain as well, and a cash money transfer platform for converting cryptocurrencies into cash, and vice versa through a large number of pickup points, including all Worldcore offices.

ICO Alert: One interesting project within the Worldcore portfolio is WorldcoreTV. Can you give us a brief description of what it is and what you are trying to accomplish with it’s eventual launch?

Worldcore: This will be the industry’s first TV channel focused on blockchain and FinTech with international Internet Protocol Television (IPTV) and online broadcasting. The media will unite the blockchain community and will become a leading advertising marketplace in the industry powered on blockchain as well. Worldcore has an experienced team of professionals in this area to launch WorldcoreTV within the shortest period of time.

ICO Alert: Will the recent events in China, and the increasing regulation of cryptocurrency around the globe, be a hindrance to the potential growth of Worldcore within the cryptocurrency space?

Worldcore: This will never become a problem for our team because we always hold the hand on the pulse and monitor all regulators’ announcements related to cryptocurrencies. There will always be some crypto-friendly jurisdictions where we will be able to legally move part of our products for the crypto-community and continue to provide these solutions to our clients.

ICO Alert: The Ethereum network has occasionally suffered from slow transaction times, especially during more popular ICO crowdsales. Is there any concern that this may affect the Worldcore platform?

Worldcore: As far as I know, these problems regularly happen with both Bitcoin and Ethereum. I don’t see anything critical because such problems happen for a very short period of time and I’m sure they won’t become a reason for emergency situations.

ICO Alert: As a non-Worldcore question, we like to ask team members what their expectations are for the cryptocurrency industry in the near future. Where do you see the industry in five years?

Worldcore: As we currently see, some jurisdictions are becoming more aggressive to cryptocurrencies and others implement regulations and legal framework to legalize this industry, so I am sure the industry will keep developing, but some countries will apply restrictions like China. Worldcore is an EU company and we see that EU regulators are friendly to cryptocurrencies and even the license for cryptocurrency exchange is not a problem, an example is BitStamp. By the way, this is the same license that Worldcore holds — a payment institution’s license. The more countries apply restrictions, the worse it is for the industry because it will affect cryptocurrencies’ value and the overall crypto-economy. Anyway, I am sure that legal framework will be announced before 2019 because it becomes urgent, as we see that the value of all coins is close to $150 billion already and governments can’t just keep leaving this industry in a grey area.

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View the Worldcore Website here.

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References
(1) Worldcore Website, Worldcore, (2017)
https://worldcore.com/

(2) Worldcore Whitepaper, Worldcore, (2017)
https://worldcore.com/Worldcore.pdf

Topics: Fintech, Blockchain, ICO, Cryptocurrency, Payments