ERC20 Token

WaBi (WABI)

WaBi is tackling the $450 Billion Dollar issue of counterfeit or fake products. Counterfeit products are not only a danger to the companies who own the rights to these products but also a danger to customers who are consuming these products. Counterfeit foods, drinks and medicines are a huge issue in Asia which has lead to incidents like the 2004 and 2008 baby milk counterfeiting that resulted in over 60 infant deaths.

Asian countries are often heavily populated and can often be victims of poverty. Counterfeit products may be cheaper or available in bulk which is a risk some people have to take in order to care for their family. On the other hand, some seemingly legitimate products can be tampered with for more malicious reasons by factory workers or groups attempting to boycott a brand, for instance.

WaBi Tokens are used as loyalty points to incentivize scanning of anti-counterfeit labels on Walimai protected products. Consumers paying with WaBi will gain a variety of benefits, including: discounts, improved delivery terms and bonus WaBi with every purchase. WaBi encourages consumer retention for participating brands while also functioning as the catalyst for ensuring collective security.

From a business perspective. Including Wabi’s RFID security tags/labels on products are an immutable way of assuring a customer that a product has not been tampered with and is indeed safe to consume.

“By scanning the secure anti-counterfeit labels we’ve placed on products, consumers are guaranteed product authenticity and rewarded through our loyalty system.”