How Does Worldcore Stack Up Against Other Cryptocard Providers?

crowdedmind (50)in #ico • 8 years ago (edited)

The article below is originally published here. I am the original author of this work and am syndicating it to Steemit as well as Medium and a couple other platforms like InvestFeed to better reach my target audience of Initial Coin Offering investors, cryptocurrency traders, and traditional finance people, thank you!

Worldcore White Paper

We have been hearing the past few months about an increase in cryptocurrency payment processors entering to create an elevated experience for cryptocurrency users utilizing blockchain technology. In this article, I will investigate a few other cryptocurrency payment card processors and how they measure up against Worldсore, an innovation-driven 3-year old FinTech company aiming to truly disrupt the payment processing arena.

The existing cryptocurrency payment processing projects we will take a look at are:

TenX/MetalPays (Yannik) — TenX Website. MetalPays Website.
TokenCard Website
Monaco Card Website
OpenLedger’s OCASH Payment Card

TenX & MetalPays

TenX & MetalPays are probably the two biggest competitors aside from the OpenLedger OCASH ICO happening later this month. TenX is zealously tapping the payment processing industry, but has taken a deeper ecosystem-driven model similar to Worldcore in the sense that it has a deeper infrastructure than the other payment cards mentioned.

Worldcore’s Suite of Products (White Paper)

Both TenX and MetalPays have solid leadership teams behind the projects, very similar to Worldcore; the main difference here being that Worldcore not only has a high-caliber team, but has been operating for over 3-years now with a variety of pre-existing products. In addition, Worldсore’s suite of pre-existing products are ready for blockchain technology integration. While TenX did come out with an AWESOME video of the Founder paying for his Starbucks in real-time with his TenX card, this demonstration is simply one small facet — consumer products — of what Worldcore proposes to offer after raising Initial Coin Offering funds.

Worldcore Products Will Have Similar Real-time Features

MetalPays offers their METAL tokens as a reward for spending with their payment card and gives the consumer a higher discount when spending in-network — pretty cool, but isn’t this just the creation of an discount-driven “in-network” utilizing cryptocurrency tokens? If you think about it, this is what existing credit card companies already do without having implemented a blockchain token in their credit/debit card reward program.

The in-network discount piece is already there — many banks already offer you a bonus % of the funds you spend in certain categories, like restaurants for instance. The consumer may receive 5% cashback for spending at restaurants for the quarter — nothing new here. What Worldcore does differently is their major focus on horizontal infrastructural development — meaning, the deep infrastructure their products operate on are not only focused on the consumer at one end of the spectrum, but a variety of customer types along the spectrum. Both TenX and MetalPays look to focus much more on the consumer/spender as opposed to the small business owner.

TokenCard — Not Much There Considering Head Start

Just looking at TokenCard’s new website…it’s pretty visible they are not building a very deep infrastructure considering their claim to be “the banking replacement.” I mean, don’t get me wrong — I don’t want to “pick on” their project;, but TokenCard has been around longer than all of the projects mentioned here while being much further behind in publicly displayed progress, at least.

Worldcore

Not to mentioned they didn’t update their community from July through the beginning of September, something normal to cryptocurrency/blockchain projects that is utterly unheard of in the business world. Above is an example of the Worldcore Mobile Application (left) compared with the TokenCard Mobile Application (right) — publicly displayed progress, this is what I mean by it. Worldcore clearly has a more expanded mobile app, at least from the display of it.

Monaco Card — ICO Advertising VISA Partnership Mirage

Article & Source Here.

Diving into a simple and surprising reason why Worldcore trumps Monaco Card — by simply displaying the aim for operational compliance with a variety of regulations, including the marketing-side of the complex EU regulatory infrastructure, can really protect our investment. Why is this important? Well, during the Monaco Card Initial Coin Offering, advertisements were found to have the VISA trademark in Google AdWords campaigns and a variety of websites their banners appeared on. Just take a look at the picture above.

Worldcore

On a more positive note, Worldсore lists their partners very clearly along with their very clear focus on marketing compliance. If you continue to look closely at other pictures in this and other Worldcore articles, you’ll see quite a few regulatory body stamps of approval. Quite possibly my favorite part of comparing the Worldcore and Monaco Card ICOs is that Worldcore does not claim to be “the best,” but strives zealously forward while letting their performance and actions do the talking, humbly. Oh yeah, and the fact that Worldcore already has products in the prototype and working stages, unlike Monaco who JUST came out with their “stand-in-line” application — way more talking than action with Monaco’s leadership team…

VoiceKey alone is a technology that even the largest behemoths do not have implemented within their existing infrastructure. Worldcore is aiming to make VoiceKey a regular part of the cryptocurrency community experience, keeping our hardware safer.

Then we take a look at the Worldcore Exchange prototype image below — not sure about you, but all I saw about Monaco was that they WERE “the best” cryptocard. The Worldcore infrastructure is far, far more advanced than that of a project like Monaco because it takes a lot more than a simple application to effectively play the role of a cryptocurrency payment processor, let alone “the best.”

Cryptocurrency Trading Platform Prototype: Wordcore.Trade

OpenLedger’s OCASH Cryptocard

Worldcore’s major competitor just might become the little heard of OCASH cryptocurrency payment card. The leadership team behind the OpenLedger Decentralized Conglomerate has been quietly working on a vast ecosystem-centric infrastructure with various moving parts designed to work in synergy with each other.

Official Worldcore Website
OCASH becomes a major competitor from the standpoint that their infrastructure is as deep as Worldcore’s, but with a bigger focus on synergies created by the various coins in the ecosystem. Also, OpenLedger DC’s ecosystem does not seem to have the infrastructure in-place to scale with rapid growth as much as Worldcore. In fact, Worldcore is known for helping brand new customers open a bank account within 6-hours online or 12-hours on weekend days…not even the largest banks have the capacity to do that right now. Looking at the image above, Worldcore already has over 40 employees with a very specific intention to add more.

Official Worldcore Website
Looking at the picture above, the Worldcore leadership team is also ready to integrate blockchain technology into their existing, long-term infrastructure. While the OpenLedger DC is built entirely on the blockchain, Worldcore will be a hybrid in the sense that they are a completely centralized system working to decentralize itself. This seems to be something that will be more beneficial to any company entering the blockchain tech world because, well, blockchain tech has not yet proven to be a viable option to build on from scratch.

Official Worldcore Website

Projects like Ethlance.com have had to wait for the Ethereum Network to advance to a point of scalability where gas was affordable. For instance, it cost me $2.34 to make a profile on ETHLance.com before the recent upgrade to the network. Even after the upgrade, it does not make sense for me to pay even $0.20 to create a profile on the freelancing platform…why would a user want to pay money just to make a profile or make changes to their profile? Doesn’t seem very conducive to growth; meaning, I gain new experience which costs me money to add to my ETHLance profile. Considering Worldcore’s cutting edge Voice and Facial Authentication methods, they have the perfect foundation to start from as an existing company aiming to decentralize its infrastructure.

We’ve gone through quite a bit for now, but PLEASE let me know what you think in the comments below! Does Worldсore have the capacity to take cryptocurrency and blockchain to a mainstream level before competitors? Or what do YOU think will happen? Until next time, check out my previous on Worldcore:

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Below are some resources for beginning cryptocurrency enthusiasts:

Cryptoversity by Chris Coney — The Online School That Pays You To Learn About Bitcoin, Crypto-currencies and Blockchains
HitBTC Exchange — major exchange, access ICOs on the exchange
CoinBase Wallet/Exchange to buy Bitcoin/Ethereum/Litecoin w/ Fiat — this link gives us each $10 when you purchase $100 :)
CoinTracking — Your personal Profit / Loss Portfolio Monitor and Tax Tracker for all Digital Coins
CoinMate.io — Exchange cryptocurrency for crytocurrency
CEX.io— one of the better crypto-4-crypto exchanges
NovaExchange — the top exchange for ANY cryptocurrency — find the smallest, less known on this exchange first.
Coss.io Exchange — decentralized exchange building an All-in-one setup
CoinPayments - Receive payment via 55+ different cryptocurrencies - the crypto-PayPal.
Yobit Exchange - very similar to CoinExchange and NovaExchange, but much better arbitrage opportunities.
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