Business Showcase: WEIcrypto, an ecosystem of products created on the blockchain

In this week’s Business Showcase we focus on WEIcrypto

Describe the company – WEIcrypto the elevator pitch?

WEIcrypto – is an ecosystem of products created on the basis of blockchain technology, aimed at technological changes of world’s financial system.

Meet our products:

WEI is cryptocurrency has absorbed all the advantages of cash, from the speed of making a payment to the anonymity of the payer. WEI transaction takes no more than 1 second. WEI mining methods allow you to reduce the load on the environment

WEIpay – Payment system for sending and receiving WEI. Sending WEI by phone number or by attaching the device to an NFC tag as in the usual online banking applications. Free clearing service for organizations

WEIback – algorithm for popularizing WEI as a means of payment. User who accepted the WEI payment and the user who paid for the WII goods receive the same fixed remuneration for their contribution to the development of blockchain payments. 

WEIpartner – the system of loans for the development and stimulation of business and turnover of cryptocurrency WEI. The decision to approve the loan is made by voting of the blockchain nodes. To repay the loan, you just need to add WEI as one of the payment forms

How are you different?

Currently there are none of any known analogues of WEIcrypto in the blockchain industry, whereas some of our products are unique for financial market generally.

WEI – the first in the world cryptocurrency that allows you to mine it simply by buying and selling goods and services. Yet WEI has all the advantages of cash: from speed of transaction to being anonymous as a customer if necessary.

WEIpay represents a completely different level of using cryptowallets. Service has familiar functions as bank apps for smartphones or online-banking for PC. You don’t need to figure  out the way it works, it’s pretty simple, intuitive and convenient, you just use cryptocurrency for everyday transactions. 

WEIpartner –  the world’s first service for providing decentralized loans for startups, based on the principle of «risk sharing». A loan in WEIpartner is provided through the voting of blockchain nodes on a specialized platform. The principle of “risk sharing” means that in case of a commercial failure of the project, the user doesn’t need to return borrowed funds. The WEIcrypto ecosystem shares entrepreneurial risks.

Why will you do well?

There are two main reasons for this.

Firstly, it is the project team and its experience, that we are very proud of. The WEIcrypto project has united excellent specialists from economics, IT, marketing and jurisprudence who sincerely want to make the world a better place. We don’t seek to radically and quickly change the financial system, but we want to make the use of cryptocurrencies in the world system more mass and understandable for ordinary people.

The second reason is more technical. The pre-public version of the entire WEIcrypto ecosystem is ready and has passed internal testing.

And, of course, we keep in mind ecology and the conservation of natural resources, so we use the Proof-of-Service algorithm.

Where are you based?

Our organization – Non-commercial fund «WEI Foundation» is based in Georgia, the country which was one of the first to develop and implement government-supported, blockchain solutions.

When was the company launched?

Work on the project began in March 2021, during the period of active growth of the NFT and Metaverse market. WEIcrypto was prompted by the obvious understanding that the interest of the community has moved from payments to the new assets (NFT, Metaverse), although what blockchain technology was created for (decentralized payments) has not been achieved yet. We believe that the world is ready to perceive blockchain as a product if we make it something familiar.

What have been your biggest wins to date?

Our biggest win today is our team. Together we have developed and successfully tested a completely new model of traditional financial services. Thanks to the expertise of our team, we were able to do this in a relatively short period of time – a little more than a year.

Who are you trying to attract to your product?

Our ecosystem can be most simply described by the phrase “blockchain for the people”. Our solutions make it as easy as possible for people who are farthest from the blockchain world to use cryptocurrencies. Moreover, as noted earlier, WEI is the world’s first cryptocurrency that can be mined by buying and selling goods in a store, our loans are issued interest-free, and our payment system is completely free for entrepreneurs. Such solutions make the WEIcrypto ecosystem not only a convenient financial product, but also very profitable. We are also as honest and open as possible. There are real people behind the project, we are open for communication and want to act only in the legal field. That is why we decided to conduct an IEO, not an ICO, in order to pass a full check on the exchange.

What tips would you give to others looking to build their business?

The company’s most valuable resource is its team. The experts around your idea will help you bring it to life even with limited investments. Appreciate their experience and the background they bring to your business, build a system of trust within the team. We think that many will agree with us on this.

Tell us about your team? 

As it was already mentioned above, the WEIcrypto team – is the first win of our project. It is thanks to the expertise of our team that we were able to reach the stage where we are now – the ecosystem is ready and works perfectly in test loads. And we don’t just work together, we are like-minded people.

Let’s talk about the first persons of the project, and it doesn’t mean that we are less  or more proud of someone at all.

Murat Khadziev – CEO of WEIcrypto, lawyer, economist and crypto investor since 2015. His experience and theoretical knowledge formed the basis of WEIcrypto.

Magomed Mamilov – CTO. An expert in mathematics and blockchain technologies. The man who built the processes deep inside the engine of our ecosystem.

Ayup Bariev – CIO. Ayup is a full-stack programmer, which allowed him to oversee the creation of WEIcrypto ecosystem services.

Abdul Bariev – CSO. Abdul and the team assigned to him have made our services a coherent ecosystem with the best protection against attacks that exists today.

Vladimir Baskov – Marketing Advisor. Vladimir has experience in marketing various products and services. His human-centric approach to work and knowledge of blockchain helps the WEIcrypto ecosystem to expand beyond the blockchain community. 

What are your plans for the future?

We have big plans and we are confident about their achievement without any doubt, once again – thanks for this to the expertise of our team. In July 2022, after the release of the IEO, the WEI cryptocurrency will become public, WEIcrypto will be ready to accept users.

In November 2022, we plan to launch the WEIed – educational platform to enlighten people about cryptocurrency, its ways to integrate it into business and much more from blockchain programming to its economics and legal issues. It seems to us that now there is a lack of content that tells in simple terms what cryptocurrencies are needed for in everyday life.

Also in the near future is the release of WEIcard. It will be a device that looks like a bank card. It will be a symbiosis of the usual card, but with a WEI balance, as well as a payment terminal for physical points of sale. We respect our future users and we believe it will be psychologically comfortable for them to make purchases with a device that visually resembles the usual ways.

In plans for 2027 we have the launch of WEIsattelite, a service that broadcasts the WEI blockchain to our planet from space. We already have technical solutions for this. This will allow you to use WEI even when there is no Internet, which will really bring WEI closer to cash. There will be only a few differences – WEI, unlike banknotes, doesn’t need to be put in your pocket or wallet, WEI can’t be counterfeited, and lastly, you do not receive rewards for using cash, as you do with WEI.

What are your favorite tech gadgets?

I think it’s a computer. Not any special model, but a computer in general. I believe many will agree with me, that a lot of things that surround us, wouldn’t exist if a human hadn’t invented the first personal computer. It is the personal computer, the Internet and mobile devices that have become the driving force behind the digital revolution, that has led us to the future in just a few decades.

What tech gadgets do you wish you could use to help you?

The creators of everything that surrounds us needed knowledge, work, cool team and, as we have already found out, computers). We are working with the same.

Anything else you’d like to add/we should have asked?

How do people get in touch with you?

Website: https://weicrypto.com/

For the media: press@weicrypto.com

Support & questions: support@weicrypto.com

Chat: https://t.me/weicryptocom

Twitter: https://twitter.com/teamweicrypto

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