Blockchain startups have been a rage, mostly in the last 2 years and the main reason behind so many of them popping up on the blockchain map is the prevailing belief that blockchain is in fact the future. Now how many of those startups will live up to their ambitious aims is another story. However we would like to add another startup to your blockchain radar, one that portrays and bills itself as “blockchain’s financial district”, and goes by the name of WORBLI.
WORBLI ardently believes, that blockchain is the future and that it has the potential to truly transform the financial services industry. According to company, there are so many aspects of the fintech industry that all stand to be revolutionized, such as, cloud computing, storage, security, inequality if incomes, accounting, contracts, financial inclusion, supply chain logistics and social and voting networks. The founders of WORBLI aim for it to be the forefront of innovation in these sectors, however it won’t be limited to just them.
What is WORBLI?
One of the most basic functions of WORBLI is to facilitate businesses and individuals alike, in enjoying smooth access to financial services. In addition to that, it also gives the opportunity to developers to build their own applications on its network.
But the WORBLI network, overall is specifically designed for the purpose of reducing the amount of friction that is faced by cryptocurrency users as well as blockchain developers. The determination behind this design is to significantly increase the scale and reach of the blockchain tech. So that ultimately it can be used to power the development of innovative products only possible as a result of blockchain.
Technicalities of WORBLI
Now lets get down to the technical aspects of WORBLI. Its ecosystem uses the EOSIO software and according to the team behind the startup, the software unlocks a string of benefits for the company. First of, it provides the users with the benefit of efficient and feeless transactions, this in turn enables the applications on the network to function without the inconveniences caused by bottlenecks and delays. Furthermore, it also gives the users the ability to actually amend nefarious transactions all the while allowing them to recover accounts, should the need arise.
Key Features of WORBLI
Traditional Banking Products for Crypto Users
One of the major motives of the WORBLI platform is to eliminate the barriers of entry that currently cause disruptions, when it comes to entering the digital currency and technology market, specifically for average users. And in order to achieve this, the company is seeding as well as launching a fiat and digital currency bank known as Gamma. The purpose of which, will be to provide traditional banking products to crypto customers and everyday users as well.
In fact a minimum sustainable product for Gamma is already being produced this year and will go under further development and rigorous trials in the coming year. Since it is predicted that the global market in 2019, is going to emphasize significantly on business activities, the team behind WORBLI hopes that Gamma will consequently be in rather strong position to launch in the global markets including Africa, Latin America, Australia and Europe.
Secured Single Account
Owing to WORBLI’s design, users will only require a single account when they are storing, buying, and even trading blockchain assets. Plus, they won’t have to worry about security breaches, as according to WORBLI, security is the company’s priority and they vow that all the individual accounts and wallets, shall be insured against any losses that might occur as a result of hacking.
Rigorous AML and KYC Checks
The creation of a WORBLI account for all the users, come with stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) checks. The company hopes that their strict checks will help reduce the burden on companies that are trying to stay compliant.
A Suite of dApps and Financial Services
Since WORBLI is the first sister chain of EOS, which is aiming to deliver an array of financial services and decentralized apps (dApps) to the crypto world; the team has been in constant communication with the EOS community. Together they have been forming quite the strategic pair in providing the best of the solutions to their users.
Projects in Pipeline
WORBLI already has numerous dApps lined up for launch, which will take place shortly after the network has officially gone live. Here are a few of those projects,
- Charity payments applications
- Insurance and risk transfer products
- Innovative exchanges
- Remittance and payroll services
- Custodian wallets
In the course of time, the company also has plans to integrate with different kinds of wallets and an array of payment gateways as well, so as to enable their customers, access to buy their native tokens, the WBI, in a broader range of currencies.
In addition to that, the team is also working to build fruitful relationships with the governance bodies of the United States, which include, the Internal Revenue Service (IRS), the U.S. Federal Reserve, and the Securities and Exchange Commission (SEC).
In the coming year, the company’s focus is going to be on recruiting and retaining top talent to help drive WORBLI forward, including a “world-class executive team” to develop Gamma.