Blockchain to save the world from poverty

Learn how World Peace Coin Project will route out the world poverty by creating opportunities for people who can't access financial services
18 December 2017   906

While rapid economic growth is expected to increase the income of developing countries, the ownership rate of mobile terminals is extremely high in spite of low bank account ownership rate in such countries. There are 2.5 billion people who have no bank account in the world. Considering that it is difficult for them to get education, launch businesses, invest for an asset buildup, World Peace Coin aims to enable them to live independent lives by intriducing a new cryptocurrency based on blockchain technology.

What is World Peace Coin?

World Peace Coin (WPC) is a cryptocurrency that aims to route out the world poverty. WPC utilizes its own artificial intelligence system called “TSUMUGI” which calculates credit scores of people with no bank account so that it is capable of providing the revolutionary system, Proof of Lending (PoL), that enables WPC owners to mine while financing. That means that WPC provides opportunities for people who need a finance to live their independent lives by analyzing big data with AI and calculating their credit scores. Myanmar is planned to be the first country where WPC will be donated from October 2018.

World Peace Coin Project Features

  • WPC is a public cryptocurrency with blockchain of Bitcoin type
  • It will hold 10% of the total amount in its wallet and donate it to support the independent lives of the world’s poverty
  • Block generation time: 2.5 min
  • Block size: 1MB
  • Way of Mining: WPC adopts a hybrid system of Proof of Work and Proof of Stake and plans to move on to a hybrid system of PoW and PoL by October 2020

What is TSUMUGI?

Tsumugi artificial intelligence of World peace coinTSUMUGI Artificial Intelligence Technology

TSUMUGI is a system using a cutting-edge AI technology to realize a FinTech service for “investment in the future” of consumers. TSUMUGI is created to bring the world peace with economic circulation. To minimize credit default risk of WPC owners in developed countries, TSUMUGI calculates credit scores of people in developing countries with its own formula.

Features:

  • Original credit scoring without any financial systems such as banks
  • “Mother wallet” for functioning PoL practically

World Peace Coin Wallet

WPC is going to design wallets for loaners of PoL (who are called “UA”) and loanees of PoL (who are called “UB”) respectively.

  • UA Wallet. Remitting functions for PoL will be installed in addition to common features of cryptocurrency wallets and there will be no limit for remittance and balance
  • UB Wallet. Loan limit will be set according to the score calculated by TSUMUGI in balance and the functions to see the loan limit, the current loan amount and apply loans will be available with PoL

Flow of PoL of World peace coinFlow of Proof of Lending

WPC sent from UA wallet to TSUMUGI will be pooled and allocated for the allowance in case of delayed loan repayments of UB wallet.

World Peace Coin Token Sale Information

  • Sales dates: Pre-ICO. from Dec 20, 2017 to Jan 20, 2018
    ICO. from Mar 25, 2018 to Apr 25, 2018
  • Total number of tokens: 25M
  • Token price: Pre-ICO. 1WPC = USD 0.22
    ICO. 1WPC = USD 0.27
  • Hard cap: Pre-ICO. $10M
    ICO (including Pre-ICO). $50M
  • Accepted currencies: USD

World peace coin collected funds allocationCollected funds planned allocation

Documentation

  • Whitepaper

More Information

Tezos Co-Founder penaltied by Wall Street Regulator

Tezos co-founder Arthur Breitman is punished with a fine and a trading veto for two years by The Financial Industry Regulatory Authority (FINRA)
20 April 2018   93

The Wall Street regulatory institution has come to a adjudgement with Breitman after he was indicted of producing false statements about his side venture (Tezos) while he was actually employed at Morgan Stanley. All registered FINRA securities specialists are demanded to report any for-profit activity outside of their stated employment if there is “reasonable expectation of compensation.”

The regulatory activity started from a Reuters article published in October that discovered Breitman, who is filed with FINRA as a French citizen, never disclosed hise work for Tezos while still employed at Morgan Stanley within the years of 2014-2015.

Together with the other proofs published in Reuters` article is a business plan written in 2015 that lists Brietmen as chief executive and makes projections on the potential for the company to be worth as much as 20 billion dollars over 15 years.  They also cited two papers Breitman penned under the pseudonym L.M. Goodman about Tezos, showing that he purposely hid his connection with the firm.

FINRA enclosed that “Breitman did not notify Morgan Stanley at any time that he was engaging in these outside business activities.” The adjudgement conditions of April 18 are that Breitman shun any broker-deals for 2 years and pay a $20,000 fine. Breitman neither accept nor disclaim the indictments.

The settlement with FINRA is unrelated to and has no impact on the launch of the Tezos network. Arthur cooperated fully with FINRA at all times and Arthur is pleased to put this personal matter behind him.
Sarah Lightdale, lawyer of Arthur Breitman

Last July the Tezos foundation increased for $232 million from their initial coin offering to found the blockchain network for smart contracts but still haven’t delivered any of the cryptocurrency to supporters because of infighting and legal problems in and outside of the boardroom.