Woldcore currently offers its clients – both B2C and B2B – a wide range of global financial services, including access to bank transfers, e – currency payments, debit and virtual debit cards, bulk payments, smart invoicing, payments for any VISA / Mastercard credit / debit cards incl. using crypto – currencies, international money transfers for individuals and business. The future of the project is in the development of both traditional and innovative product lines and services: for example, are the brokerage platform for trading assets on the Blockchain and a cash transfer platform for easy and fast conversion of cryptocurrencies.

Rating: 2.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
На текущем этапе традиционные решения от Worldcore успешно проходят апробацию рынком, в будущем линейка продуктов будет расширена. Практически все блокчейн-решения находятся на этапе разработки, кроме криптовалютной биржи – ее демоверсия лежит в открытом доступе.

Token description
ICO date
14.10.2017 - 15.12.2017
Token price
Pre – sale: + 10% bonus => actual price of the token: 1WRC = 0.09USD
The 1st day of ICO: + 5% bonus => actual price of the token: 1WRC = 0,095USD
The remaining days of ICO: + 0% bonus => the actual price of the token: 1WRC = 0.1USD
Token distribution date
Consensus method
ICO currencies
Bounty camping
The pool of tokens allocated for the bounty campaign is 3% of the total WRC offer and has the following structure: 20% – Facebook 20% – Twitter 20% – BitcoinTalk signatures 20% – blogging campaign 20% – chat support in the BitcoinTalk
Token functions
At the current stage, traditional solutions from Worldcore are being successfully tested by the market. In the future, the product line will be expanded. Almost all of the blockchain solutions are at the development stage, except for the crypto-exchange market. Its demo version is in the public domain.
Tokens distribution
Sale during ICO (87.0%)
Bounty bonuses (3.0%)
Team remenuration (10.0%)

A high level of competition from both fintech and blockchain start – ups and traditional banking.


Poor functions of worldcore retail products with respect to traditional banking standards. Not all elements of the future product mix are adequate to the company's business. The WP only indicates the outline of the solutions being developed, while their details are disclosed by the company in the minimum amount


The utility – component of the token is not worked through to the end; The company business model, by and large, is not unique. A similar one is implemented by a large number of competitors in the market. Monetization is too biased towards paying fees for issuing cards and commissions for transactions. Firstly, it will not be possible to monetize low-activity users at the expense of service fees, and secondly, the need to pay in the beginning can scare off customers.


There is no mechanism to protect the investors interests, which can lead to the mechanism collapse for ensuring profitability and to the company's unstable dividend policy, in particular. The so – called security tokens, which the WRC belongs to, have ambiguous legal status. They are either banned in certain jurisdictions or the same stringent regulatory requirements are made demands on them as well as on securities (for example, in the USA). The inadequacy of certain areas of attracted funds spending like Worldcore TV. In general, along the entire project road map, there is a certain bias toward marketing activities, taking into account the fact that Worldcore's marketing budget is already about 600 thousand euros a year. Selectivity in the disclosure of the company's financial statements. The volume of attracted funds repeatedly (almost 17 times) exceeds the average size of early – stage transactions involving venture analogues (the median size of round A and B in 2017 will be 6 million USD, according to Pitchbook data).


Uncertain experience of the company founders. There are no product experts in the team.

Full analysis

Worldcore has managed to prove the market viability of its solution so far since the number of clients is growing and numbering 25 000+ people, the revenue also demonstrates positive dynamics – the quarterly average sales dynamics for the last 2 years was 68%. However, the company also has long – term market success factors, as the non – cash payment market features are, on the one hand, its institutional design and, on the other hand, a high potential for development, due to both sensitivity to technological factors and global heterogeneity of the depth of its implementation solutions. Thus, today one of its main drivers of growth are developing markets. According to the World Payments Report from Capgemini, their CAGR for 2015 – 2020 will be 19.6% in comparison with 5.6% for mature markets. In general, analysts forecast CAGR at the level of 10.9% for the world market of non – cash payments for the period in question. Segmental approach to market analysis gives a clearer idea. In particular, the market for e-payments (electronic, i.e. carried out via the Internet in the e – commerce framework) and m – payments (i.e. mobile), which Worldcore specializes on, will provide during 2015 – 2020 period 17.6% and 21.8% of CAGR, respectively. The year-on-year (chain) growth for e – payments will gradually decrease and consumers will switch to mobile payments. In this sense, the Worldcore decision to develop its service as multi – platform (applications for iOS and Android are being prepared ) corresponds to market trends. It is also noteworthy that the ratio of debit – credit cards rose from 59:41 to 9:1 for the previous 10 years and this trend will be preserved in the future. Therefore, Worldcore is betting on the right retail product with a growing market share. The blockchain being a component of the Worldcore solution also has expediency. According to the World Fintech Report from Capgemini, for the technology itself in the financial sphere the implementation exactly in the payment segment is more likely and close in time. The main uncertainty is related to the fact that payment segments and p2p – lending in fintech are very competitive from WorldRemit, Currency Cloud, Zelle and Starling Bank to Klarna, Funding Circle and FingoPay / Sthaler because there are no entry barriers in these markets. Do not forget about the potential competition from traditional banking, which tries to incorporate the best solutions of the fintech industry.


The company's existing products are B2C and B2B tools and services for making and optimizing payments. These include traditional retail banking solutions like multi – currency settlement account and debit card and non – trivial offers for the customer such as a virtual debit card, the ability to transfer to cards using such payment systems as VISA, Mastercard and UnionPay even if you have only crypto – currency (PAYANYCARD service)and the ability to make mass payments. In the B2B segment it is possible to distinguish the smart invoicing service and receiving payment organization on the client company (SCI) site, mass payments and API for the payment automation. The advantage of Worldcore as a fintech company is increasing attention to security. Firstly, the company meets the requirements of the PCI DSS level 1 standard, the international data security standard. Secondly, the company provides a whole package of solutions for the authentication of its customers, including several types of biometric protection (voice and fingerprint) and classic two-factor authentication via SMS. Finally, within the internal Anti-fraud system, all transactions and accounts are under constant monitoring for suspicious activity. Worldcore plans to develop three platforms: for trading with crypto-currencies, a platform based on the blockchain payment platform for easy and instant conversion into cash and blockchain platform for P2P lending regulated by British law. The main risks are associated with inadequate filling elaboration of retail products such as debit cards. Today banking sector customers are interested not only in functionality but also in the way it is integrated into their daily lives so – called daily banking as well as other pleasant things like loyalty programs and cash back. The lack of these elements hampers the value proposition quality to the client putting the worldcore products in a losing situation in comparison with the ones of traditional banking.

Business model

The WorldCore token of the ERC-20 standard is more a tool for participating in the company's revenues than an integral part of the company's business model but it will still be possible to receive discounts and bonuses for products and services of Worldcore by using it, however, it is not specified yet what kinds of them and what for exactly. Being implemented on Ethereum, WRC is a smart – contract. In terms of communication with the client, Worldcore, as a typical innovative financial institution, relies on an online channel, implementing the service of a remote opening of accounts and/or cards, as well as on the delivery of the latter. In addition, there are also purely online solutions like virtual cards. However, the company plans to strengthen and offline channels, developing a network of branches in key regions of presence. It is noteworthy that WorldCore monetizes basically only payment and transactional activity of users at the expense of commissions, leaving accounts and cards servicing free of charge.


Worldcore ICO is conducted in 2 stages - preliminary sales and crowdsale, limiting both the offer of tokens – 1 billion WRC, and possible fundraising – the limit will make 87 million USD, and capitalization will make 100 million USD, accordingly. The positive aspect is the worldcore partnership with the audit company Ernst & Young. The company offers Worldcore not only financial reporting audit services but also business valuation services. The conclusion of E&Y's appraisers on the cost of Worldcore business makes the investment process in WRC more transparent as well as the fact that the current Worldcore financial statements will be disclosed to the owners of 50 000+ WRC. The company also provides investors with a mechanism for ensuring return on invested capital. It will take the form of dividend payments in proportion to the number of tokens owned. The Worldcore plans to allocate 30% of the net profit for dividends, which is being sustainably generated now. These measures are designed to provide additional support for the token exchange value. The main factors of uncertainty here are, firstly, the fact that the company does not have a mechanism for protecting the investors interests - in particular, there are no supervisory bodies like the board of directors. This can negate the mechanisms associated with ensuring profitability. Secondly, the direction of spending is not entirely adequate to the business essence. For example, the company plans to allocate 15 million USD for the launch of its own channel WorldcoreTV with an initially solid marketing budget. Besides the structure of funds spending is not disclosed.


All that pertains to the technical expertise of the team does not cause complaints. There are programmers with work experience from 5 to 10+ years and a blockchain – architect in the team. There is a large number of partners: among them are BitPay's crypto – payment gateway, developers of biometric authentication technologies, local legal and ICO – consultants. Also in 2016, the company won Best Fintech Newcomer 2016 Award, the prestigious European award. There are questions, however, about the previous experience of the founder and general director of the project. Judging by the LinkedIn profile, his work experience boils down to only obtaining a higher education. Also there are no product experts from the banking sector in the team, who are able to "revitalize" the Worldcore solutions for customers.

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