Scam or not: World Peace Coin – are they serious?

01/25/2018

Review by the team kript.io
What is World Peace Coin: a cryptocurrency that creates credit opportunities for the unbanked people.
Project: World Peace Coin is aimed to eradicate poverty among people in developing countries. They are going to make contributions to create financial opportunities for the poor, providing loans to the unbanked population. WPC is based on the Bitcoin blockchain, offering the following instruments:
— TSUMUGI — AI system that calculates a credit rating for the borrowers.
— Proof of Lending (PoL) — an original way of mining, which means that mining is possible only for those who have WPC. The idea is that WPC owners in developed countries could finance WPC users from developing countries.

Country: Japan.

Website:
worldpeacecoin.io

Analog: Humaniq, MicroMoney

How they differ from the competitors: the tools they provide, namely, PoL mining and TSUMUGI AI system.
Date of ICO: pre-ICO: ongoing, ICO: March 25 – April 25, 2018.

Token price: pre-ICO – 1 WPC = $0,22, ICO – 1 WPC = $0,27.

Terms of sale: accepted currencies: ETH, BTC.

What their token gives you: an internal currency.

What will happen to tokens: in total, they will issue 2,5 billion tokens without the additional emission. Estimated mining period is ten years. WPC will be listed on cryptocurrency exchanges from June 2018.

Token allocation: 250 million will be put on sale and 250 million of WPC will be donated to developing countries.

How much they want to raise on ICO: soft cap – $10 million, hard cap – $50 million.

Where the money will go:
60% - exploration of partners and marketing;
20% - project development;
15% - project operating expenses;
5% - preparations to join global exchanges.

Team:
Yoshimitsu Sekine — a CEO of CryptoPie corporation. He is a web marketing specialist and cryptocurrency investor.

Kyon Yoshihara — a Direct Marketing Manager. He has experience in marketing and planning of financial products at insurance companies. He was involved in projects connected with blockchain technology.

Nozomu Nakazato — a Project Chief. He has experience of being a lecturer and principal of an art school. He is also a researcher of BOP (Base of the economic Pyramid) business.

Cheng Wei — a Project Representative. He is an expert in corporate compliance, Singapore business regulations, and startup funding. He started his own company CorpZap, which now services more than 350 startups in Southeast Asia.

MyoLatt Aye — a Project Chief in Myanmar. He is a Myanmar AIG, Sunshine Japan CEO, and a Japan Myanmar business consultor.

Shintaro Nagamoto — an Account Executive. He has experience in marketing and building a loan system in financial fields.

Taka Nakamura — an Information Analyst. He has 12 years of experience in marketing research in the digital industry.

Advisors:
Yoshiaki Saiga — an AI technical advisor.

Yuki Miyawaki — a blockchain advisor.

Hidetoshi Nakano — a legal advisor.

Free tokens: no bounty program, no free tokens.
Roadmap
June 2018

Collaboration with CryptoPie
October 2018

Donation to Myanmar
June 2019

Donation to SouthEast Asia (part a)
April 2020

Donation to SouthEast Asia (part b)
October 2020

Start of PoL
January 2021

Donation to SouthEast Asia (part c)
January 2022

Donation to Central America (part a)
October 2023

Donation to Central America (part b)
January 2025

Donation to South Africa



Communication:
twitter: 113
facebook: 267
Why scam
Concept: ★★☆☆☆
The lending market in developing countries is growing rapidly, creating new opportunities for businesses in this field. The obvious drawback is that this market is risky and has a high rate of loan defaults. World Peace Coin is not the first project that wants to develop financial instruments for the unbanked. So WPC can face rather stiff competition. Long-term milestones presented in the roadmap are not justified by any details about the way they are going to achieve their goals. Currently, they only have the idea but not the working concept. There are many misprints on the site (English version).

Token: ★★★☆☆
The mechanism of functioning for WPC is clear because it is similar to BTC. But there is no information about token distribution after an ICO.

Crew: ★★☆☆☆
Information about skills and work experience is not enough to get a clear idea about the crew. Most of the team members do not claim to have experience in Blockchain. There is no detailed information on the project's advisors, just names and photos.

Communication: ★☆☆☆☆
They have too few readers and just several posts in social networks.


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