EOS New York’s mission is to position the EOS Blockchain as the most attractive dApp development platform in the world, especially to businesses. We take another step forward today and announce our partnership with WORBLI, a Financial Services Network being built on a sister chain to the EOS Mainnet. EOS New York will become one of the first block producers on the WORBLI blockchain. Our industry faces fiat choke points and WORBLI will help bridge the fiat and blockchain worlds.
What is WORBLI?
The WORBLI team has been a part of the EOS community since before launch. WORBLI participated in the EOS Mainnet launch itself and have been active participants in the community for many months.
“ WORBLI is a financial services network (FSN) where enterprises and individuals can access a broad range of services. Our blockchain ecosystem leverages EOSIO software and is capable of hosting a variety of decentralized applications (dApps) focused on financial innovation, security, reliability, and compliance. — Source
The WORBLI network is a code fork of the public EOS blockchain, allowing our network to benefit from the features of the EOSIO software whilst optimizing it for enterprise and financial operations. As we have control of our very own EOS independent blockchain, we are able to set different governance and rules compared to the main public chain.” — Source
What Problem is WORBLI Solving?
WORBLI Network will close the gap for users and service providers by creating a compliant financial services account allowing both users and merchants to buy and sell the bulk of available blockchain tokens in two transactions. Through the integration of a globally compliant financial services institution and digital currency trading platforms, users will only need a single account to store, buy and trade their blockchain assets. — Source
How Will WORBLI Support the EOS Mainnet?
WORBLI will directly support the EOS Mainnet by further developing inter-blockchain communication between itself and EOS as well as providing direct EOS to fiat gateways. One of those fiat gateways will be through WORBLI’s envisioned Gamma Bank.
“WORBLI with its partners will itself, seed and launch the Gamma Bank, a ‘Fiat and Digital Currency’ Bank providing checking accounts, debit cards and trading. Designed to eliminate the barriers of entry into the digital currency and technology market for the average user, Gamma Bank will facilitate the safe storage, transactions and exchanges of digital assets and fiat currencies.” — Source
Why Can’t WORBLI Launch on the EOS Mainnet?
Financial institutions that wish to participate in the established markets must maintain strict adherence to many complicated guidelines and regulations. Worbli must have the flexibility to be able to adjust and adapt to the regulatory environment and remain compliant with international banking standards to ensure fiat gateways remain open. Furthermore, keeping Worbli as a sister chain will provide the EOS Mainnet cover from harmful regulation.
We have designed the network this way in order to adhere to strict regulations and to attract enterprises who require structure and compliance with these regulations — Source
While the blockchain revolution rages on the real battles are being waged at the edges of the ecosystem where tokens and fiat meet. It’s here, at this event horizon, that traditional institutions and governments will levy authority as they see fit. The more influence the blockchain world has here the better.
This is not to mention that other fintech dApps need a place designed for regulatory compliance as well.
What Does This Mean for EOS New York?
The EOS Mainnet is and always will be our priority, period. We believe that supporting WORBLI supports the EOS Mainnet by reducing the friction of adoption of the EOS token, specifically by providing a direct fiat to token and token to fiat gateway via the Gamma Bank. EOS New York will also adhere to the Block Producer guidelines required of us to produce blocks on the WORBLI sister chain:
- Verification of enterprise grade infrastructure.
- Compliance with financial and sensitive data storage regulations.
- Full AML/KYC verification.
This increases our transparency with WORBLI and with the EOS Mainnet community.
The WORBLI Token (WBI) Airdrop
Did we mention that WORBLI is airdropping 1 Billion “WBI” Tokens to the EOS Mainnet Community on September 14, 2018?
The WORBLI token, or WBI, will be used in a very similar fashionas the EOS Mainnet token. WORBLI has chosen to to use an updated snapshot to airdrop which we will provide via EOSSnapshots.io, our daily snapshot tool.
The WORBLI Token is used to access network resources on the blockchain. Token holders have access to the network’s computing power, data storage and bandwidth. Token holders may also redeem their tokens to access applications built on the network. —Source
Want to Learn More?
To learn more about WORBLI you can visit their website or their telegram groups at WORBLI News or WORBLI Community.Where appropriate, we will be providing periodic updates on the WORBLI network to you, the EOS community.