There are many people in the world who live a life where the standard of living is unacceptable. Let’s use your bank account as an example. People use their bank accounts every day, generally making multiple transactions that pay for food, rent, clothing, water, etc. It is an essential service that everyone deserves to have access to. Unfortunately, however in developing countries this is sometimes not the case. What should we do to provide financial services to these people? WPProject aims to solve these problems with a new digital currency: “World Peace Coin”.
People who do not have bank accounts often have mobile terminals such as smartphones; it is possible to receive it if it is a service via the network. The objective is to “provide a system that allows investors from all over the world to finance impoverished people on a digital currency basis”. It is about making opportunities for these people, so that they can also participate in economic activities. Here are some challenges that can emerge.
- Creating benefits for investors
- Financed digital currency functioning as an actual currency
- Assessment of loan applicants and finding a method of determining each loan content.
It is crucial that we figure out how to solve these problems. Here is how we plan to do it:
Creating benefits for investors
There is a predetermined interest rate in a WPC loan. However, since these are set at relatively inexpensive interest rates, this alone will not bring significant benefits to investors. Therefore, we have also developed our own mining method: “Proof of Lending” (PoL). PoL is a mechanism that enables mining by making loans. Since the mining fee will be available as much as an investor can finance, the benefits become a reality.
Loaned digital currency functioning as actual money
WPC will donate 250,000,000 WPC (10% of the total supply) to their targeted developing countries. By making it possible to use WPC as a means of settlement in retail and service industries including affiliated restaurants, it will play a role as real money and will function phenomenally.
【Assessment of loan applicant and method of determining each loans content】
WPProject collects and analyses personal data such as usage history and repayment history of WPC that we donated. The AI software “TSUMUGI” is responsible for this analysis. Each person’s credit score is calculated based on the analysed data, and the loan limit amount. Repayment interest rates are determined by this score.
Investors become “banks” and financing is done, while also helping the development of financial services in countries that desperately need it. By doing this, we can expand the opportunity for people living in poverty to enter the economy. It eventually will bridge the global gap between the rich and the poor, and create a more ideal world for everyone. As the first step of this project is towards world peace, “Myanmar” was selected as the first target country. WPProject selected the countries it will be supporting by analyzing different data such as economic growth rate and bank account holding rate.
Since then, World Peace Coins ICO has started and has raised over 4 Million USD.
Currently, they are implementing a campaign that will create a 12% increase as an early application reward. This campaign is until April 23, 2018. If the maximum amount of ICO exchanges has been reached, the ICO will be over even if the increased campaign bonus period is still active. We welcome the participation of those who can approve the concept of this project by all means, and welcome you to our community built for world peace!
※ You can find the details here ↓
World Peace Coin ICO Website: https://worldpeacecoin.io/
World Peace Coin Facebook: https://www.facebook.com/worldpeacecoin/
This Is A Paid-For Submitted Press Release. TheCryptonews Does Not Endorse, Nor Is Responsible For Any Material Included Below And Isn’t Responsible For Any Damages Or Losses Connected With Any Products Or Services Mentioned In The Press Release. TheCryptonews Urges Readers To Conduct Their Own Research With Due Diligence Into The Company, Product Or Service Mentioned In The Press Release.