Symbol – WAN
Whitepaper – Link
When – Wednesday, September 6th
How to Participate – WAN tokens can be bought by contributing ETH (Ethereum) tokens
Soft Cap – None
Hard Cap – 107.1 Million WAN
Total Max Market Cap At ICO – ~81 Million USD including team/foundation/miner allocation (provided all WAN sell at the highest exchange rate.)
Exchange Rate: Time Based:
Total Tokens in Circulation At ICO – 210 Million WAN
Wanchain is a bold attempt at bridging the gap between the current blockchain infrastructure of payments, settlement, and financial services and the more contemporary technology in use by the banks of today. Currently, it’s difficult to do something like taking out a blockchain based loan, and these kinds of technologies are the kinds of services we will require as a userbase that is transitioning into blockchain based currencies.
While banks are being outdated in the application of currency, they still have the upper hand in the fields of financial services such as granting loans, collecting interest, and compatibility between different banks. Wanchain aims to bring blockchain up to speed by creating a platform that enables these kinds of services, as well as adding additional cryptographic security in the form of Ring transactions.
Finally, Wanchain can be thought of as a competitor to services such as BlockNet, Polkadot, and Ripple, as their use cases vary and can be utilized in favor of the previously mentioned solutions.
Notable Team Members/Advisors
Wanchain, being a Chinese project, will enjoy the benefits of a much wider Chinese audience as opposed to more Western projects – Chinese investors make up far more of the cryptocurrency space compared to Europe and the Americas, and as such will have far more exposure and ability to leverage their advantage into greater wins for their investors..
While Wanchain has many aspects that can be compared to other projects, one of their most important features is this small text line hidden in their whitepaper:
Wanchain supports cross-chain transactions between mainstream public chains, between private chains, and between public and private chains.
The ability to interact with private chains is a godsend and will be one of the most important features future companies (such as banks, attorneys, hospitals, etc.) will look for when deciding which platform to build their software on. This interoperability between private chain and public domain is similar to the kinds of interaction we have in the Internet today (with Internet and Intranet systems being the direct analogy).
Wanchain, being a Chinese project backed by Chinese personalities, makes it difficult to do any kind of verification on their team members – while they state persons such as “Michael Y.” and even the above mentioned “Ying Zhang” as contributors to the project, I found it impossible to find any kind of relevant articles, web sites, or discussions that linked these people directly to the Wanchain project. I expect a Chinese individual would get much better results in this respect, as this is a Chinese project and most of these sources will likely be in Chinese. Regardless, caution should be taken if a decision is going to be made to invest in Wanchain on a team-based merit.
Wanchain is one of the latest in competitors to become an intermediary layer between services and solutions that people of today currently use with the legacy banking system. An investment here will do one well, however care must be taken when considering their team members link to the actual project.