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 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.
- 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 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
Collected funds planned allocation