Online Wire Transfers Go Blockchain

Online Wire Transfers Go Blockchain


With ICOs emerging as a leading start-up model, largely as a result of its ability to offer small groups – or individuals for that matter – the ability to issue tokens in exchange for investments, the result is currently proving something of mixed blessing for the Blockchain industry.

Even the average entrepreneur has the potential now to access funds that would have simply been unthinable even twelve months ago

ICOs – Hyper-sale Market for Concepts?

Reputed investment figures in Blockchain have issued warnings, particularly at less discerning investors who appear ready and willing to invest non-negligible amounts into what amount to no more than concepts written on a nicely presented document. 

The risk is, of course, that the ICO phenomenon becomes tarnished with stories of start-ups presenting revolutionary concepts, pocketing the fund contributions and disappearing back into the ether, to coin a term. 

With the soaring number of ICOs, particularly in this second half of 2017, leading investment and entrepreneurial figures from Mark Cuban to Kim Dotcom are showing a keen interest in the phenomenon but are equally advising caution.

Worldcore’s ICO Entry

Meanwhile, in the financial technology world, the race is still on to acquire funding compete with Ripple which seems to be dithering over whether its own currency will be accepted as the world’s first de-facto internation inter-bank transnational currency..

Enter Worldcore

Basically Worldcore is an online transfer service that came into existence in 2014. Although they are currently non-Blockchain based platform, they are looking to use the ICOs as a point of entry to compete with outfits such as Bitwala and BitPay.

Based in Prague, Czech Republic, Alex Nasonov, the CEO of Worldcore mentioned that blockchain is a natural extension for them. Their main aim is to undercut banking disruptors like FairFX and TransferWire, banks and those technologically innovative operators who are heavily invested in cryptocurrencies.

Worldcore is already accepting Bitcoin as a funding option to fund a project which seeks to create a platform that will offer a prepaid debit card that allows for payments with both traditional fiat as well as cryptocurrency.

Worldcore tokens are expected to hit the markets on the 2nd of October. The project targets whale investments only, with a minimum purchase of 500,000 tokens ($50,000).

So if you’d also like to jump on the ICO bandwagon, this might be a good candidate if you have that kind of spare cash lying around.