WaBi Founders ‘Office Hours’ — 1st of August
Highlights from the bi-monthly community Q&A session
The ‘Office Hours’ are a dedicated time, hosted every two weeks, in which the founders of WaBi, Alex & Yaz, take questions from the community. ‘Office Hours’ are held in the Verified WaBi Holder Telegram Group and you can join the group by following these instructions:
How to join the Verified WaBi Holder Discussion Telegram Channel
With our main WaBi Telegram group reaching almost 9000 members, a level of spamming, fudding, and white noise posting…
Below are some of the questions asked and answers given on the ‘Office Hours’ session on the 1st of August. Repeat questions or unrelated questions have been removed and some answers have been expanded for clarity.
Question 1: New media material
Will you consider making new videos of the product in action? I.e. a demo of consumers scanning products and earning WaBi, or pictures of a store with the WaBi protected products in it.
There’s already a lot of content around in the shape of videos, images, and articles but we’ll shoot more after the rebranding and mass scale roll out. Doing so before the completion of the rebranding would be a waste, as these promotional materials won’t be able to be reused.
Question 2: Masternode reception
How do you think the masternode release went down with the community?
There were some who complained that the rates were low or that the number of nodes was too limited. However, we made these choices to secure the longevity of the project and assure a future-proof rollout, and we’re happy that people appreciated our reasons:
- We focus on long-term sustainability. Hence, short-term pumps due to high rewards for running a node is not what we‘re striving for.
- Similarly for the nodes: we needed only 30 at this stage, which is why we chose this number. More people wanted to run nodes, but following the business objectives we believe will result in success of the project is vital.
Question 3: Manufacturers/companies acquiring WaBi
At what point in the roadmap do you see companies/manufactures purchasing WaBi coins with their advertising budget, so it’s just not speculators controlling prices?
We expect a mass scale consumer roll out in 2-3 months. A producer dashboard with a WaBi/Action menu will go live around the same time. This is when the producers can login, choose a marketing action, pay with WaBi, and run it, tout de suite.
Question 4: Chinese media exposure
Can you explain the lack of presence on Chinese social media? Or at least it appears that way to us. There’s no Chinese telegram group or WeChat group, I assume.
We are working on a number of initiatives to leapfrog the adoption curve, especially post-rebranding. We can’t go into details at the moment, but would be happy to revisit the question during the next several Office Hours sessions.
In general, we will be doing a lot of consumer marketing in social media. We have a new name for the platform, and are in the process of a substantial rebranding. There is comprehensive PR plan ranging from national media to KOLs on Douyin.
We believe the crypto crowd will follow once they start seeing their spouse and significant others shopping with us.
Question 5: Community involvement
Any plans of another community involvement piece for the rebrand? Rewards for naming something, or graphics input or something of that nature? People seem to like that stuff.
While we have a clear vision for our new image, there will be room to involve the community at large. Especially those in the Verified WaBi Holder group. What, exactly, is not yet set in stone but we’ll do something, for sure.
Question 6: Q2 Recap
As per the Q2 roadmap in the website alcohol sales has already started, but actually it’s not happened yet. Can you please move it to a later date?
Thanks for your point! Over the course of 2018, there are some things that got prioritized or reprioritized due to a shift in focus. For instance, our plans for alcohol products has been moved to Q1 of 2019, as we tapped into a major source of popular supplement products from the Australia & New Zealand area. While we haven’t changed our direction, such events are bound to change our immediate focus. Keeping this in mind, we’ll publish an updated roadmap soon. We’ll also be adding bios of our (sizable) team to the website, as it is often requested by supporters. You can find additional information in our Q2 recap below:
Walimai / WaBi Q2 Roadmap Recap
Highlighting progress and priorities for the second half of 2018
Question 7: Transactions on the blockchain
How can we see supply chain transactions recorded on the Walimai blockchain?
We’re currently working on the explorer. We hope to have it ready soon.
Question 8: Development team
How many developers are working for Walimai? On which areas is the development team focused?
Our CTO Edward Tsang is constantly adding additional members to the development team. Currently, there are at least 10 (software) people, and several more working in hardware and business development.
As for their current focus, a lot of work is being executed on the consumer front-end part (meaning iOS, Android, WeChat, store display, sales tools, etc.), label development (bespoke shapes, sizes, and new features for different types of product packaging), and quite a lot of backend work on WabiPay integration.
Question 9: WaBiPay
Will WaBiPay only work through WeChat or also with an updated version of the Walimai App?
WabiPay is an integral part of the entire Walimai ecosystem, but we have far more ambitious goals for it. Since we are unlocking the value stored in retail discounts in China (and worldwide), there are many options and approaches to play with. We are here to help the consumers realize this.
Question 10: 2018 Roadmap
What are your plans in regaining investor confidence? Problem I can see is the direction in which team is working is different to roadmap. As a common investor, I follow the roadmap. But after completion of the time lines, we realize that the team’s priority is something else. There is a big gap.
The roadmap is bound to change as new information comes in. For instance, we had not expected to gain so much traction in Australia and thus had to urgently redirect resources to labeling, sourcing, etc. At the end of the day, we are still aiming for the widest adoption and usage possible to make WaBi & Walimai a success. We’ll release an updated roadmap to keep the community more in the loop, going forward.
As for the confidence issue, we think everything will be self evident once the mass scale roll out starts.
Question 11: Beyond China
Since I’ve been traveling in Indonesia, we discovered they have a lot of problems with self-made alcohol put into ‘official’ bottles. 84 people died last April from it. Also on the Gili’s above Lombok, lots of fake alcohol is put into market. Are there plans to serve that market to?
We do intend to open up sales to regions outside of China by Q4 of 2018 / Q1 of 2019, but the exact location hasn’t been decided yet. Indonesia is indeed a big market, but we are hearing similar stories from Malaysia, Thailand, and even people in Singapore were asking us to open up the market there.
We’d like to thank everyone who joined us for our ‘Office Hours’. If you have any questions for the founders, please join us through the following process: