Thanks all for participating in our WiBX AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you
Mayank – Vagner , Edizon Eduardo, Guga and @cassiorosas Warm welcome to CryptoNationIN. 🥳 🎊
Vagner – Hello everyone
Cassio – Hello!!!
Edizon – Hello there!
Guga – nice to meet everybody
Mayank – We are glad to have you with CryptoNationIN. Before we start I request you to please tell about yourself and about your project.
Cassio – Hi, I’m Cassio, Head of Marketing and Strategy at WiBX. All communication and strategy work goes through the department. The work has been very intense and interesting.
Vagner – Hi guys I’m Vagner Sobrinho co founder of Wibx ecosystem I’m come from a 20 yeas developing retails system to most large companies in Bazil. Since 2015 totally focus on Wibx and this new ecosystem.
Guga – Basically we create a platform that we can help retailers to sell more, we use our coin wibx as a enabler of that. For example a retailer buy wibx and pay their clients who promote their services trought affiliate and social network.
Edizon – So, I’m Edizon the CTO of WiBX. I’m responsible to take care about all technology platforms, developments we use and technical integration with our customers.
Cassio – The project consists of decentralizing advertising. The platform covers marketing, engagement, activation and acquisition. Our main goal is to be able to be a digital medium for small and medium businesses.
Guga – I am a investor in the company and hlp to build the first digitl bank in Brazil (Banco Original) and Domo Invest a Venture Capital focus in the region with 3 unicorns already, Loggi, Gympass and Hotmart.
Mayank – Can you please tell the community about WiBX brands?
Cassio – The brands are of different segments and sizes. Retail is the focus. We have brands such as Allianz parque (football stadium), food service chains, fashion, among others.
Guga – Wibx works similar to a fidelity point and the retailer promote Wibx in our behalf and the investment part is goos, a lot of promotion trought the community that is very active in the region.
Mayank – And where you want to see WiBX in the next 5 years?
Guga – The idea in 5 years is to be the main fidelity coin in Brazil and in at least 3 other countries.
Vagner – We starts in Brazil because is a best labs to validate our propose of new paradigm. Ho make to people power to help brands directly from our on social network. With the scale of this in Brazil (more than 200 million people) we start a new countries with the same scenario like here.
Mayank – Amazing 👏🏻
Q1. Can we monitor all transactions on the #WIBX infrastructure and off-chain? Is it possible to monitor user transactions on the network? How do you ensure privacy and anonymity?
Edizon – We prioritize anonymous transaction even inside the platform. All data is encrypted and minimum data for Brazilian law information is kept. Also we compliance with GRPD. As we use a sidechain with Fabric and Ethereum, our off-chain transactions will be possible to be tracked on the future by the own user by using a visualization permission that will we grant: as per Ethereum, only the user will know his address.
Guga – one good caracteristic of the wibx is to compare with a milage program of a airline, usually the milage is local and hard do exchange, we solve that problem as we can use the token in different ways, you can exchange for money, you can use to promote a product of retailer and receive wibx as a reward, send to your friends and use it to pay for goods on our partners and acquires that are connected in our network.
Q2. What is the roadmap for the next six and twelve months? The Covid-19 pandemic and global crisis is very complex , how will it affect #WIBX development plan? What is the future direction of this project?
Cassio – We have studied the user and shopkeeper experience a lot. This will bring a number of new features. The COVID-19 pandemic has brought a series of changes to the world. And in commercial relations. For us, it brought incredible opportunities. Internally we adapt quickly to remote work. Externally with the community and our customers we become even more relevant, as our process is all digital and helps the distribution of content and advertising, as well as the users who earn when they share. We also have our social project. Where WiBXs that are distributed through advertising if they are not used within 03 months, all of them are donated to an institution (ONG) for social and digital inclusion. In this way, both WiBX and its customers and users collaborate directly for a better and more balanced world.
Guga – we also have a shopping in our wallet where you can spend your wibx and is a good place to sell products as we have a lot of users.
Vagner – Important to say here digital marketing before covid is not used by large community of small entrepreneurs.
Q3. The WiBX platform offers support and assistance to organizations focused on digital inclusion and social welfare…. What tools have you developed to make people opt for cryptocurrencies as the main method of trading?
Cassio – We believe in a fairer world. That is why we have the social project, in social and digital inclusion. As I put it above. Regarding the use of cryptocurrencies as the main means of payment, we are seriously working on APIs and means of payment and with that bring the real economy into this universe and also take the crypto universe to the real economy. In addition, decentralization brings security and speed to all processes.
Vagner – The main tool that we’ve developed to call people’s attention to consider the use of crypto instead of the main methods of trading is our Fidelity’s platform, https://fidelidade.wibx.io.
Q4. I see many stadion name (allianz parque) in your partners list…I want to know in what way they are connected to WiBX and how will these partners contribute in WiBX’s growth.
And how can you deal with security?As you know security is the big challenge in any field?
Vagner – The Allianz Park stadium got interest in using the WiBX system with the intention of divulging their events, in which goes from Sports to E-Sports. Allianz is one of the main show stadiums in Brazil, like Bryan Adams and so on.
Q5. I am interested in the rewards system that WiBX offers.. what status must a user achieve in terms of commitment and actions to participate in the rewards system of your platform and how benefits can this be?
Vagner – First, you only have to create a WiBX wallet. Second, access the Fidelity page. Third, Share the publications in your social media. Congratulations, you’ve earned WiBX. There’s no need for a particular status.
Edizon – Regarding Security: our system is designed with decoupled from our APIs to our Backend. Also we have our normal set of WAFs and Protections Interfaces as some patterns testing the platform exhaustively trying to find breaches.
Cassio – That simple!!!
Q6. I was reading about some of the privileges of certain subscribers about “real-time monitoring”. What requirements must users meet to use the monitoring tool in the real-time dashboard? What advantages does this offer over the rest?
Edizon – Our main goal is to have enterprises using our engagement process. Our administrator portal provides real time about those engagements and payments made for it. You can track how many clicks you have, and one important point: is not only a share… It`s a share AND a click returning from it, so the enterprise can have accuracy on how the engagements are flowing.
Q7. What technology stands behind WiBX and What are its advantages?
Edizon – We are an ERC20 token on ETH network. Also for our platform we have a SideChain using Fabric (Hyperledger) for our off-chain transactions. Then our systems are based on Messaging system (AMQP) by a complete isolated interface from API to Backend. We mainly use NodeJS with Typescript, Angular and GO. The state of art in terms of programming technics also supported in the beginning with Reasearch Group Collaboration with a very respectful university called ITA the Institute of Aeronautic Technology.
Cassio – The benefits are numerous. From what technology provides, such as transparency, security, decentralization and agility. For the economy, it brings a new “actor” with possibilities to add value to companies and move the economy, even generating a new income supplement.
Q8. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to $WIBX and keep them long term?
Cassio – Perfect! In fact, marketing is essential for us. We have worked on many fronts, both in terms of positioning and understanding and in the distribution of content in different channels and formats. We work and believe in our community that is growing day by day. We also have a series of campaigns, including, recently, with the main influencers of Brazil.
Q9. Every blockchain-based projects showcase the benefits of their platform. In the case of WiBX, what can users benefit from and gain from the platform?
Vagner – There’s no need to spend anything in order to earn WiBX. You only have to share posts and it’s as simple as that.
Q10. #WiBX has been great, but as an investor, we’re always concerned about the loss of hackers. So #WiBX has any mode to help users like me more secure?
Edizon – We have implemented 2MFA and biometric authentication for users. Talking about the Backend we have analysis frauds system that can block system to withdraw values in a suspected moviment. And we have our patterns helping us improving our security each day by searching by vulnerabilities.
Q11. What’s the main usefulness of WIBX to we users? How can we benefit from it?
Cassio – The main utility is to be able to give “voice” to consumers with our token and our platform and make them part of the companies’ advertising process, where companies are able to reward their consumers with WiBX. The benefits are innumerable, but among the main ones is being able to exchange your tokens for products or services within our platform or to exchange for money in an exchange where we are listed.
Q12. I would like to know about the impact that a multifunctional market can have on blockchain … Why is Wibx considered as a multifunctional market platform? What characteristics must a platform have to be multifunctional?
Vagner – We have an earning system between centralized media a payment system between our wallet and a shoping system who helps small entrepreneur to showcase our products. Yes we see like a multifunctional platform.
Q13. (i) Really what is the mission and vision of this project? Do you simply develop a platform that facilitates the sale of merchants’ products, while rewarding users by posting them on their social media?
(ii) Could you spend the whole day posting the products that are on WiBX on all social networks? How much could you earn from earnings per day?
Cassio – Our mission is to be able to give “power” to micro and small entrepreneurs and, with that, to be able to participate consumers in the advertising process. In a simple and safe process. About your second question, yes, a user can spend all day sharing content, including people already doing it. The limit that a person can earn is related to the rules of each content, that is, how much each company is “paying” for each user action. The possibilities are literally endless.
Q14. The business model is a fundamental piece for the growth of any platform in blockchain. What type of business models have you developed in WiBX to expand and distribute your services or products to different communities?
Vagner – For companies, we have different types of signatures, where you can choose the amount of WiBX you’ll start and whether you’ll have some extra benefits or not. In any case you’ll end up winning!
Q15. Atlas Quantum was one of the biggest scams in Brazilian history and that leaves me with my feet behind any initiative coming from Brazil. What’s your backgroud in blockchain? What kind of WiBX security can you offer your customers and investors?
Edizon – We are listed on the biggest America Latin Exchange called Mercado Bitcoin. We have a spread of 150% on the day of our launch at Mercado Bitcoin and we are the top MOST TRENDED Coin for some days: even more than Bitcoin. We have a solid book of features to offer to customers and a many ongoing contract with Big Market Players like already mentioned Allianz Park. We are more than just blockchain: we provide to customer an experience how to use blockchain.
Q16. According to your website, WibX is a crypto jumping coin? Can you explain what you mean by that? Also, you claim WibX is the FIRST mass usability utility token. Can you give us statistics to substantiate these claims?
Cassio – Well, let’s go. The jump is very much related to our positioning. Our brand has the image of a tree frog, and this type of tree frog jumps 20x its size. With that, we strongly believe that what we are doing has a lot to do with it. We are taking a “quantum leap” in commercial and advertising relations. As for mass usability, we did a lot of research from 2015 to 2018. In our whitepaper, the data is consolidated and well explained about it. Access this link to access it: https://static.wibx.io/whitepaper_en.pdf.
Q17. Currently in crypto , there are lot of platform which provides many features & have multiple products ! So, Which unique features and products are provided by WiBX to any user ?
Vagner – Our platform make available public’s engagement in such level, outstanding any other services in that matter.
Q18. DeFi is one of the hottest topic in the blockchain space right now. Can $WIBX share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Unification approach towards the DeFi sector?
Vagner – We are very enthusiastic of DeFi economy we most believe in countries like ours this cam help to cure social inequality, corruption and improve exchanges relationship between people. No matter what they are.
Q19. Your logo look like a frog, what does it represent and what os its meaning to WiBx?
Cassio – Good question. This type of frog we use jumps 20x its size and we believe that what we are doing represents a leap in commercial relations and for the inclusion of people and businesses. About what WiBX means comes from the words in English. Wonderful Internet Business Xchange.
Q20. Am interested in monetizing my information and data shared on social media, how does Wibx help me monetize my online activities. How do I get started on wibx, would I need KYC??
Vagner – In Brazil, you need KYC to change crypt in to a fiat currency.
Q21. Revenue and adoption play crucial roles in every crypto projects, and you have been in crypto field for a while now, What way are you planning on generating revenue and adoption with your technology?
Vagner – Operations within activities in the internal wallet as well to external wallets have tax fees of o,2%.
Q22. How WiBX maintains and controls flexibility, cost and security which three important things on blockchain?
Edizon – Regarding costs we have different approach from Exchanges. We don’t charge hard high fees on transactions. But we charge a little. Also our wallets are responsible for paying the customer GAS. So the customer don’t have to care about charging Ethereums to make a transaction.
Then we have to group transactions: microtransactions are grouped to cost one GAS instead of many. Out algorithms try to keep a number of grouped transactions and the fees it will generate on the same level of GAS it will pay.
Regarding security: each transaction happen on the platform is sidechain registered on Fabric and Ethereum so the user can have traceability of what is happening.
And about flexibility: we are an ERC20 token… we run over Ethereum network, so you can do whatever Ethereum can do.
Q23. The Brazilian people are struggling to save money and lack financial education. What kind of actions does WiBX intend to take to educate people about cryptocurrencies? What benefits will people get from using WiBX?
Cassio – Good question. In fact, Brazil is going through this phase and needs a lot of financial education. In addition to our social project, which we mentioned above, we weekly promote “lives” with people from our team and “heavyweight” guests from different sectors, showing the advantages and functioning of our system, as well as the entire financial and crypto universe. About the benefits with WiBX, there are many. Because in addition to decentralizing advertising, we participate the consumer in the whole process. Where it is possible for him to have a new income and with his WiBX exchange for products or services within our platform, or even exchange for money in any exchange where we are listed.
Q24. What measures are you taking to ensure the confidentiaIity of the data of the users? How vulnerable are your technologies to cyber attacks and hacking of user’s data?
Edizon – We have systems in compliance with GRPD. We use minimum SHA 256 cryptography and minimum possible access to systems. No transaction is displayed with user data and customer documents like passport are stored but no read from any Frontend system.
Q25. How does Wibx choose retailers to partner with? And what are the benefits of partnering with Wibx for these retailers?
Vagner – It is available for any type of company or business. There is no one choosing who can enter or not. Our platform make available public’s engagement in such level, outstanding any other services in that matter.
Q26. I think the option of being able to pay with $WiBX is great, so I’m interested to know, what kind of establishments currently accept your token?
Cassio – This is really cool and we are always very excited about the new possibilities. Quickly and simply on our platform we can already know which locations they receive, but responding we currently have the most diverse segments. From small businesses to large retailers. From gastronomy, through fashion to services. Our plan is to cover as many establishments as possible that accept WiBX as a means of payment.
Q27. What steps should you take as an entrepreneur to enjoy WiBX services? Do I need to be a great company to be able to share my products on WiBX? How much would each publication cost me?
Vagner – Every entrepreneur can use WiBX platform he only need is a good product and signup you business we have free plans to neet our potential and payment plans with premium features. Our profits come to a small fee 0,02% in any transaction made, even in none WiBX wallets. And in revenues is our premium plans.
Q28. Currently in crypto , there are lot of platform which provides many features & have multiple products ! So, Which unique features and products are provided by WiBX to any user ?
Edizon – We are not an exchange. We don’t provide tools for trading. Our main business is the engagement at social medias. Enterprises pay for this work of posting a advertisement and receiving an engagement back.
Q29. What is target market WiBX? What does the WiBX team think of the South Asia crypto market? South Asia is an area that is currently potential & many projects are competing to get investors there, does the WiBX team think of the South Asia crypto market? Does the WiBX team have a planned approach in the potential market in South Asia?
Vagner – A portion of the market is the gaming industry, as one example o target market. In regards of Southern Asia, Our external team have already been working with this market.
Q30. Can we use WIBX coin as payment? If yes, then WIBX transactions are untraceable. Then, How any merchant verify that payment is made by me or anyone else? Do you have any solution?
Cassio – As Jack would say, let’s go in parts. First, yes, it is possible to pay with WiBX. Second, payments are recorded, however, maintaining the blockchain’s anonymity structure. Through our system, the merchant gets to know who made the reservation or purchase and make it happen. At the physical point, via QR Code, confirmation is made at the time of payment, as with any other means. And in the case of using API, via e-commerce, for example, confirmation is immediate via the system.
Q31. How can you monetize your content, services or products on the Wibx platform? Who determines the value of this data?
Vagner – With client’s users who’s make a promotion job in exchange of valid share of this content.
Q32. What problem of the modern world is WiBX intended to solve? Can you see some real world examples of WiBX use and application?
Vagner – We are currently looking forward to solving trading issues. What neither Bitcoin or any other token succeed to do. You can visit the site Petz.com, a big petshop chain here in Brazil, and this is one of the examples we have. To trade WiBX for products.
Q33. WiBX is really great !!, I can acquire money only sharing products by my social networks, but is there a limit of products that I can share? Or can I share all the products found on the platform without any cost or restrictions?
Cassio – There is no limit, you can share what you think is worth or whatever is available.
Q34. Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors Wibx to long term?
Vagner – Excellent question, in the long term we working to really promote the day by day use of cryptos. Today less then 0,01% of people knows and have crypt. But the most powerful value grantee is on this utility in people’s life.
Q35. Wibx metamorphosis is a laudable one, how have you been able to survive this longest bear market and continue building and developing cos many projects have died out in this time period?
Cassio – It really is not easy. And add to all that undertaking here in Brazil !!! But we believe a lot in what we do and how much it can really transform the economy, business and people. This mission moves us and all obstacles we face in the best way.
Q36. What are the advantages of the Wibx system itself over traditional systems? Marketing is an important part of any project. How will the Wibx team turn their community into business “partners”?
Cassio – Excellent question. The main advantage is in our business model. Decentralization of advertising was only possible due to blockchain technology. All of this together is one of our great differentials. Marketing is a key process for us. We take our community very seriously and everyone from the beginning ends up being “partners” in the process. The company, because it has its gain in having people distributing its contents (promotional or institutional) exponentially. Users come in as part of the process and are literally, literally, earning for it.
Q37. Is there any tend to burn some tokens of supply in the future to stabilize the price? Do you intend to expand in the Middle East?
Edizon – We already burned our reserved amount after ICO. We have to have a great amount of supply for our ecosystem: we want each user paying for it’s coffees on a restaurant, and for that we need this supply to support the whole world.
Q38. You have proven yourself well in Brazil, but are you planning on mass adoption of WiBX technology around the world?
Vagner – Yes, There is certain facility to adopt such projects in other markets around the world, once here we are going through hard times economically and socially, it makes of Brazil a perfect place to test our platform at its best.
Q39. How does WiBX plan to decentralize advertising and provide additional income for people in Brazil and around the world?
Vagner – Given the people the power to promote wherever he wants and to entrepreneurs the help of your own clients skipping the middle man and making this process more accessible to all.
Q40. We can say that entrepreneurship is a Heculean task in Brazil. After the pandemic, this situation seems even more serious. How did WiBx manage to overcome the barriers of bureaucracy, the distrust of financial agents to continue its business?
Cassio – Good question. In fact, undertaking in Brazil is a herculean job. During the pandemic we immersed ourselves further in our processes. At first, like everyone, it was not easy, but we managed to get here unharmed and more united. Regarding bureaucracy and financial agents, we have always done a very serious and correct job from the beginning. It is not easy, but it is possible, it takes a lot of work, but it is rewarding. Being recognized and approved by regulatory means only gives us the certainty that we are doing everything that needs to be done and that brings tranquility and confidence to customers and users.
Q41. Currently the world is experiencing a global crisis due to Covid-19 and several projects have declined. My question , What is the vision and mission of the WiBX team to make this $WBX token have very high demand during Covid-19?
Vagner – Our platform helps sales and payment on distance.
Q42. Can you talk to us about the current regulatory landscape and what you’re hoping to see with regards to regulation in 2020? Does WiBX have support from the community and the government Brazil?
Vagner – Brazil have already been learning how to work with blockchain technology since 2009, in this case there is already many ongoing tests on how to better this technology. Do you want to learn everything about that matter, watch our live: https://www.youtube.com/watch?v=ALG2u6rWMTw. There has been going lots of debates around it here, and it is evolving.
Q43. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates about WiBX?
Cassio – Very cool your question! We take our community very seriously. We have many channels where we work on news about the project. News, new players, features, partnerships, all this and more, are always on our official channels. Our website, telegram, Instagram, Twitter, YouTube, Facebook, LinkedIn.
Q44. We can say that entrepreneurship is a Heculean task in Brazil. After the pandemic, this situation seems even more serious. How did WiBx manage to overcome the barriers of bureaucracy, the distrust of financial agents to continue its business?
Vagner – Offer our solutions in low cost even free for most of entrepreneurs, a lot information. From ours channels and education from this new economic model.
Q45. You have proven yourself well in Brazil, but are you planning on mass adoption of WiBX technology around the world?
Vagner – Sure first Brazil an then the other countries thats the reason we have reserved so many supply.
Q46. How does WiBX plan to decentralize advertising and provide additional income for people in Brazil and around the world?
Vagner – Belov, this is already a reality. The decentralization of advertising is to include the end user, the consumer in the advertising process and not just as a receiver, as is the case today. In addition to being part of the process, he gains from it. For companies, it has a gain, both in cost and in particular in acquiring customers and in the exponential potential of content distribution.
Q47. From a startup project to a mainstream project, being a pioneer in the industry, do WiBX team anticipate that many new startups will show up and compete?
Vagner – Our team is currently preparing for a meeting with BRICS.
Q48. How the WiBX machines manage the off-chain transactions and how they keep the balance between the off-chain and on-chain data?
Edizon – We work on microservices pattern. The are two services responsible to keep off-chains and blockchain transactions: Finance and BCH (Block Chain Handler)
Each transaction you execute is registered at our finance system first. There is general ledger taking notes of each credit and debits.
Then finance talks to BCH and BCH have now more 3 balances. Internal database, hyperledeger and Ethereum.
We use a technic of journals ver microservices and to keep all our logics of grouping and sync those transactions. This is core of synchronism: the logic we have built based on those Journals and some informations from the network like GAS we should pay.
Q49. WiBX is focused on retail. How do buyers and sellers of goods benefit from using WiBX?
Vagner – Companies do not pay any tax by using our platform, therefore they keep their earnings if they want to.
Q50. I’m interested in contributing to WiBX, Do you have a Global Ambassador Program, if yes how do I apply ?
Cassio – OMG !!! Our focus is still on Brazil, but we will prepare models for other countries soon. Stay tuned on our channels !!!
Q51. Brazil has become famous as a haven for scams, which is very negative for the spread of cryptos in the country. How can Wix help to reverse this negative image and convince people that they can believe and trust the cryptos?
Vagner – Been proud in making the whole process in Brazil. Been a Good example of project and stay away of scammers an indecent proposes.
Cassio – Please note that. WiBX is the only token listed on the largest Brazilian exchange and also the largest in Latin America. It’s called Mercado Bitcoin. In his debut here, he traded volumes larger than bitcoin itself and was featured even in coinmarketcap.
Q52. Tell us more about cooperation with the ITA Institute and how they help to improve the Wibx system?What are the benefits of the Wibx blockchain reward system for a worldwide retailer?
Edizon – ITA and WiBX had a contract of Research and Development deliveries since the begging of the project. Our CEO was clear about that: he want the best research’s results for his Company.
So the Research and Development team had an important paper on the basis of our system and architecture development and afterwards with many testing and Artificial Inteligence proposals.
Thank you to Vagner Sobrinho, Edizon Eduardo Basseto Junior, Guga Stocco and Cassio Rosas and Community for participating in the AMA. Have a nice day