WaykiChain, One-Stop Decentralized Finance Platform
Vincent LionheartWaykichain is the word’s first one-stop decentralized finance service platform and open protocol. Waykichain will help everyone with their wealth creation fairly using a transparent and fast way. Blockchain is the solution and WaykiChain is here to help!
One of the conditions to be a one-stop-shop is to provide all services that are normally provided by banks. This includes lending and borrowing money, Business loans, Checking accounts, Savings accounts, Debit and credit cards, Merchant services such as credit card processing, reconciliation, and reporting, check collection, and of course, Treasury services such as payroll services, deposit services, treasury bonds, etc.
Defi in General
The DeFi is going very well for Waykichain as it already has over 30 million WICC locked. The governance coin WGRT is a deflationary coin as it is burned every time a CDP is closed, so I expect its price to increase at least 4x from its initial IEO price of 0.03 USD per coin. Its alternative Maker’s ROI, return on investment at the launch price is 1,319.40%. This is the approximate return on investment if purchased at the time of launch. As the all-time low value is $21.06 USD on Jan 30, 2017, and the all-time high is $1,773.92 USD on Jan 18, 2018, one can clearly see the price increase of a governance coin. I expect WGRT to have the same performance as waykichain is very popular in Asia.
Treasury services
There are some movements in Thailand, which may be of interest to waykichain, as it will offer bonds as a public chain to its customers. Bank of Thailand Progresses With Digital Baht Tests Before Public Launch. The Thai government will issue blockchain savings bonds to the public. The Public Debt Management Office (PDMO) plans to sell 200 million baht worth of savings bonds with a smaller ticket at an unprecedented face value of 1 baht each through Krungthai Bank's (KTB) blockchain-based e-wallet to enable retail investors to better access the savings alternative. Thailand embraces the world of cryptocurrency as the bond market to move into the blockchain era. Toyota Leasing (Thailand) became the first company to issue a corporate bond using the Thai Bond Market Association’s blockchain platform. The network operates under the Securities and Exchange Commission’s (SEC) regulatory sandbox and is supported by the Bank of Thailand.
Korea is another interesting country in terms of bonds, as the Bank of Korea launched a department devoted to Blockchain and AI. The Bank of Korea is looking to use blockchain for bond market technology. This would allow the distribution of bond records among all participants. The Bank wants a blockchain services provider in order to build a blockchain bond system that would allow the distribution of the bond records among all participants.
An official from the Bank of Korea said that:
“We will improve work efficiency by applying minutes from meeting minutes to financial and economic indicator trends and foreign exchange audits with the technology introduced.”
A local official from Korea said:
“We are using government bonds to record securities and cash transactions in a distributed ledger and test whether a real-time simultaneous payment trading system is possible.”
In addition, we have the bank of China to issue $2.8 billion bonds using blockchain. Blockchain in bond markets is being tested by the World Bank which launched bonds with Commonwealth Bank of Australia last year. Nomura Research Institute (NRI) and Nomura Holdings announced they were jointly developing a blockchain trading platform with an initial focus on corporate bonds.
These all go to show that everyone has been trying to get government bonds to the blockchain and the near future involves all the bank services to be made by decentralized services. DeFi shines because you can simply borrow and lend to anyone in the World, you are not simply stuck in your region. In my opinion, DeFi is the future, and waykichain has been doing a great job of it. With the constant improvements to their solid core layer programming, which cannot be hacked, changed, or manipulated, waykichain is the future.
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Telegram: @Vincent_Lionheart