1WORLDBLOCKCHAIN
Powering the future of cross-border trade with the WBD token!
Token Generating Event (TGE) Starting March 31st!
Read our whitepaper in its entirety for more detailed information about our platform, vision, and team!
WHITEPAPERInteract with us on social media!
TWITTER FACEBOOK TELEGRAMWe are currently developing an invoice-based and fully KYC/AML compliant cross-border payment platform that will be
faster, more
secure and more
cost effective than using a bank or a third-party transfer system.
The ERC223-based WBD token will fuel the 1WB payment platform. Remittance costs have been falling year by year (see below) but they are still needlessly high and very slow. We are listed on the QianHai Equity Exchange under listing code 367650.
The market for cross-border remittance is truly massive, reaching about
$2 trillion USD per year.
We will carve out a significant portion of that market by making cross-border remittance payments faster and more cost-efficient. The current banking transfer system charges
high fees (or low/zero fees but a highly unfavorable FX rate) and often take
2-5 business days, sometimes longer. Each bank that touches your money charges FX fees, lifting fees, and/or agency fees. They have thousands of employees, huge marketing budgets, and huge offices, and thus high costs that need to be covered-which they pass on to the customer. Many of these fees are hidden deep in layers of fine print, making it difficult to tell what the
actual cost of transferring your money is.
Third party transfer companies are a better choice to transfer your money, but they often have drawbacks as well. For a variety of reasons-bureaucracy, KYC/AML delays, lack of liquidity, etc...transfers are usually either slow or expensive-and often both.
However, these numbers are a bit deceptive because they do not include all fees-it's just the FX markup. Looking at the top cross border transfers companies, their global overall margins are:
- Western Union 5.5%
- MoneyGram ~4.5%
- WorldRemit: 4%
- Ria 3.8%
- Xoom: 2.5%
- Azimo: 2%
- Remitly: 2%
- TransferWise: 0.8%
The time can vary from a few hours to a few days.
Our cross-border payment-as-a-service (Paas) increases the efficiency of transferring funds by granting a more favorable foreign exchange rate and using cryptocurrency and blockchain technology to make gains in efficiency and speed.
Using cryptocurrencies, smart contracts and business process automation, we can transfer users funds
both quickly
and with lower costs-
our current estimates are that our platform will charge roughly .5%-1% and take about 2 hours for most currencies, a significant savings in both time and money. Our current competition in the market includes:
We are targeting the
40% of the cross-border market that is SME and SMBs (small and medium enterprises/businesses). Large companies don't really need help to transfer funds, but small and medium businesses can really
benefit from our services. We will provide business to business, business to customer and customer to business services.
Our platform has a significant number of advantages that make invoice processing and payment easier, faster and more efficient:
We are currently in a developmental phase. Prototype testing of our platform was
successfully finished in October 2017 and we have been in pre sales for a few weeks. We are currently gathering the last of the VC backing. Here are a few pictures of the front end login and how to make cross-border remittances within the platform.
Here are just a few of our most senior team members. In all, our team has about 25 people including developers, marketers, business developers, translators, market analysts, administrators, brand managers, accountants and more. Our team is truly global, hailing from almost a dozen different countries. Most of our team is multilingual, giving us a distinct advantage when it comes to the global market, particularly the Chinese and Hong Kong markets.
If you have any questions, feel free to post them here or at any of our social media accounts (
TWITTER FACEBOOK) We'd love to get the opportunity to introduce our platform and the services that we offer.
Contact us:
Shenzhen, China OfficeShenzhen 1worldblockchain Technology Company Limited
info@1worldblockchain.comTel: +86 0755 2267 8439
Mob: +86 186 1718 6535
Address: No. 805, Building 2, SunMax Technology Park, Kehua Road, Nanshan District, Shenzhen
地址： 深圳南山区科华路讯美科技广场2号楼805
Source:
https://remittanceprices.worldbank.org/sites/default/files/rpw_report_september_2017.pdfSource:
https://www.saveonsend.comSource:
https://www.saveonsend.com/blog/money-transfer-services/ 
