Stories by WORBLI on Medium

PRESS RELEASE: WORBLI, the Compliance Driven Public Blockchain, to Enter APA with AmaZix Capital

WORBLI — Mon, 20 Jan 2020 22:52:14 GMT

The agreement provides ongoing funding for WORBLI’s Fintech focused product offerings

SINGAPORE, Jan. 20, 2020 /PRNewswire/ — WORBLI is pleased to announce that the WORBLI Foundation (“Foundation”) has entered into an Asset Purchase Agreement (the “APA”) concerning the proposed acquisition of 100% of its assets by AmaZix Capital Limited (“AmaZix Capital”) and 0rigin Ventures (“0rigin”) in return for ongoing funding and development capital.

The acquisition will be completed… To read the full release, check out Market Watch or Yahoo Finance to learn more.

The WORBLI business development team loves working with great projects. If you think WORBLI’s state of the art financial services blockchain could help your business or application, send an email to mitch@worbli.io

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Press Release: Bountyblok Integrates Asana and Blockchain on WORBLI Network

WORBLI — Thu, 16 Jan 2020 19:25:58 GMT

Here is some great stuff from our friends at bountyblok on MarketWatch

CLICK

They also have a more extensive article here…

bountyblok.io gamification with Asana

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New Year, New Website

WORBLI — Wed, 15 Jan 2020 17:51:01 GMT

We’ve been making some big changes lately. Check out the new and exciting website that welcomes in a new era for WORBLI.

To welcome in the new year our team has made significant changes to our branding and image. Because WORBLI caters to enterprise-grade clients and contributes to the Decentralized Finance (DeFi) revolution, we felt it was important to update our web presence to reflect the work we are doing. The new branding and imagery we released in December have culminated in the release of this website; designed with simplicity in mind and to be congruent with our continued mission to bring financial inclusion and fairness to the world.

For us, the new website symbolizes more than just a sleek design for our users and stakeholders. It represents the evolution from a start-up to an established company that is capable of dismantling some of the broken systems that operate in the financial services industry today. This is only the precursor to many great accomplishments for 2020 and we look forward to sharing our journey with you this year and many more in the future.

Take a look around, visit our new website here.

If the new site doesn’t come up right away — erase your cookies and reload the page.

To learn more about WORBLI or create an account? visit www.worbli.io

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WORBLI, Agenix, and STOs

WORBLI — Tue, 31 Dec 2019 16:14:48 GMT

Security Token Offerings, or STOs, are quickly becoming common within the blockchain industry, amidst a diminishing ICO (Initial Coin Offering) market that left many investors with broken promises and shattered bank accounts. Unlike the majority of ICOs, STOs are designed with compliance in mind as a tangible investment vehicle and method for companies to raise funds. This new and exciting way for investors and companies to buy and sell tokens backed by real assets has the potential to disrupt the incumbent securities markets that are centralized and exclusive.

Leveraging distributed ledger technology (including blockchain), STOs will bring transparency, inclusion, and efficiency to investors around the world. Anything has the potential for tokenization and we’re beginning to see fractionalized real estate, tokenized luxury goods and dividend tokens as the forefront use-cases of this new concept. WORBLI, in conjunction with close partners Agenix, have developed an entire framework around STOs, designed to reduce the development and compliance burden for companies and investors alike.

STOs launching on the WORBLI blockchain will benefit from various built-in features, such as the WORBLI Token Protocol (WTP) and AML/KYC for network accounts. The WTP allows security token issuers to apply rulesets at the token level, enabling the effective monitoring and distribution between accredited investors. This works in-tandem with WORBLI’s strategic partner Agenix and their comprehensive Compliance as a Service (CaaS) product; designed to save companies and developers significant time and cost, allowing them to focus on creating innovative STOs and financial applications.

“Tokenization of real-world assets is one of the best use cases of blockchain. The transparency and immutability of the network, combined with programmable features built in the token contract, allow for the creation of a new asset class that implements audibility and compliance by design. This will serve to greatly reduce the importance of compliance organizations that have to police participants and make sure everyone is following the rules, increasing efficiency for everyone and ultimately enabling trade and bringing prosperity to the world.”

Todor Karaivanov — Director of Product and Blockchain Governance

Navigating through compliance hurdles is a burden no emerging company or industry should have to endure. With regulations from the SEC, FinCEN, FATF and many other regulatory bodies imminent, we’re looking forward to a steady flow of STO projects in the near future who wish to save the headaches around remaining compliant. If you have a killer new application or think an STO would help catapult your business to success, send an email to mitchell@worbli.io

To learn more about WORBLI or create an account? visit www.worbli.io

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WORBLI, Agenix, and STOs was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.

The WORBLI Token Protocol (WTP) Explained

WORBLI — Fri, 20 Dec 2019 13:56:01 GMT

The WORBLI team has been busy developing features that will enable DeFi as we’ve never seen it before. The value proposition of DeFi, or Decentralized Finance, is a system that will enable efficient, transparent and fair financial services for the world. This can only be achieved with cutting-edge technology and features such as the recently developed WORBLI Token Protocol (WTP), available to all developers building applications on the WORBLI network.

The WTP will allow developers using the WORBLI Network to create certain parameters and rulesets within on-chain token contracts, opening up a plethora of opportunities around functionality and compliance. In conventional application development, these parameters and rulesets would need to be built into the application or chain layer, creating friction and bottlenecks for users and developers alike.

The WORBLI Token Protocol is made possible through the use of on-chain registries that provide data associated with our network chain accounts. Smart contracts are able to obtain this data, allowing for specific parameters to be added for users. While the registries provide account level control of on-chain activities, we also provide a set of token contract enhancements to apply controls against properties of the token such as token supply, number of unique holders, and number of transfers; granting token issuers and developers increased flexibility.

With the WORBLI Token Protocol, development and compliance structuring times are significantly reduced. Some of the features that can be easily implemented at the token level are listed below.

Geolocated Tokens

This feature will allow developers to track and monitor their user’s tokens and gain location statistics, allowing for enhanced geolocated human aid and charities with cryptocurrencies, community/country-based currencies, voting tokens within a specific area, and augmented reality capabilities.

Accredited Investor Tokens

Friction around onboarding accredited investors for applications and fundraising will be significantly reduced with the WTP. The protocol will enable developers to set certain rules around accredited investors and provide a single check for accredited investors for multiple investment opportunities. This will be particularly valuable to companies looking to implement a Security Token Offering (STO), with the ability to track and monitor tokens belonging to accredited investors.

Transfer Limits

The WTP allows developers to set certain transfer limits when dealing with the exchange of tokens, along with various other token metrics.

Compliance

Compliance is made even easier on the WORBLI Network, with the reduction in the amount of transactional monitoring a compliant business has to perform and the ability to Assign permissions to tokens to simplify compliance requirements.

Everything that we do at WORBLI is focused on reducing friction; whether that be from a developer’s standpoint, compliance for a startup, or for users of our network and applications. The WORBLI Token Protocol is yet another tool for the belt of our developers who are working on building the next generation of financial services, capable of bringing fairness and inclusion to the world.

To learn more about WORBLI or create an account? visit www.worbli.io

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The WORBLI Token Protocol (WTP) Explained was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.

How to Set up an Application on WORBLI

WORBLI — Thu, 19 Dec 2019 08:01:01 GMT

If you have everything you need for your STO or Application and you don’t need any help with compliance, the instructions that follow will help you make your project live on WORBLI.

WORBLI is binary compatible with any other EOSIO based chain. The process and tools used for writing a WORBLI contract are the same as on EOSIO. The main difference is that the WORBLI compliance framework places a framework on who can create accounts as well as resource pricing. All the contract APIs are identical to EOS and other EOSIO networks.

It is important to remember that all applications and projects are subject to our WORBLI Terms of Service and Developer Terms.

Here are the steps…

Prerequisites:

Create WORBLI Personal Account Instructions on how to set up a personal account can be found HERE
Create a WORBLI Business account. Go HERE to set that up.
Install binaries: https://developers.eos.io/eosio-home/docs/setting-up-your-environment
Install the Contract Development Toolkit: https://developers.eos.io/eosio-home/docs/installing-the-contract-development-toolkit

Build:

Create your Smart Contract
Compile your Contract

Deploy:

Compiled .wasm
.abi
Purchase sufficient WBI for staking
Purchase and stake sufficient WBI for CPU, Net and RAM
Purchase appropriate RAM as needed
Wallet with account key
Deploy contract
Execute Smart Contract

Do You Need Access to the Testnet?

If you would like to deploy on the WORBLI testnet first, the process is very similar to the WORBLI mainnet. The main difference is the account creation step. When you create an account for the testnet you will not go through the AML/KYC process.

To access the Testnet endpoints go here…

https://github.com/worbli/publicEndpoints/blob/master/testnet-endpoints.json

Do You Need CaaS or Help with an STO or App Build?

If you need CaaS (Compliance as a Service), legal/business consulting for your STO, or development for an application, the Agenix team offers services that can help. Agenix helps businesses and organizations unpack what they need. We evaluate what the business has for assets and where they want to go and then together, we look at the steps needed to help you grow your idea into a reality. Some businesses might need help with compliance or maybe UX/UI, perhaps smart contract or application development. Is the end goal a charity application, a new game, an investment tool? We help you understand what is needed to make your idea a reality.

Here are the steps to take advantage of these services…

Send us an email and fill out a quick questionnaire. (sean@worbli.io)
Assessment call. How far along are you? Do you need access to the test-net?
Evaluation & Cultivation: This is about ideation & discovering the specifics of your project.
Proposal process: We create a proposal with a breakdown of costs.

Once the Proposal is signed…

We move onto the build. Is it an STO an Application, a tool to utilize the blockchain for Compliance? We create a Scope and follow a plan to build what you need.
Implementation, Audit, Review: When your application or STO is ready, we test on-chain to make sure it is secure and can do what you want it to do.
Full Launch

FAQs:

Do I have to use the Agenix CAAS product to handle my project’s compliance burdens?
No. We do not require anyone to use our solutions. If you choose to use your own solution, we simply need you to submit something to us which documents the perceived compliance burden for your business and the high-level approach you will be taking to meet those compliance standards.

To learn more about WORBLI or create an account? visit www.worbli.io

Join the discussion in our Telegram channels:
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How to Set up an Application on WORBLI was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.

WORBLI Dispute Resolution

WORBLI — Fri, 06 Dec 2019 00:02:48 GMT

The WORBLI project was conceived from the start to transition into a decentralized network as it matures. Our vision has always been that initially, we will have tight centralized control as we evolve and refine our processes, with the end goal being stability and predictability. Having good checks and balances against abuse or misuse of power requires a certain degree of decentralization, and we are making progress toward that goal.

During the month of December, we are updating our Platform and Network Terms to note that disputes will now be subject to arbitration rather than going straight to the Courts of Singapore.

Meet Ben Gates

The Foundation has appointed the first independent arbitrator to handle any disputes that may arise in connection with using the WORBLI network or the WORBLI Foundation operations. Ben’s education in law was an important factor in our decision to appoint him, but the recommendations we received from his work with ECAF as an interim arbitrator and administrator of the EOS arbitration forum was the deciding factor. Ben has been involved in EOS governance discussions from a very early stage and is excited to help the WORBLI network take the next step towards decentralization. We feel this puts him in a great position to act as an expert well versed in the nuances of blockchain and therefore we hope he will be able to resolve disputes between parties in a fair, balanced and well-reasoned manner.

Additionally, Ben’s entrepreneurial background will be important as the WORBLI network scales and the need arises for an independent arbitration association to be formed.

Ben has been appointed to act independently and will deal with disputes in accordance with the WORBLI Arbitration Process Rules. To avoid any conflict of interest, the arbitrator receives a yearly fee in advance from the Foundation that cannot be taken back and the annual term cannot be suspended or terminated earlier by the Foundation. We believe that this approach ensures that the independence of the arbitrator will not be compromised.

Checks and Balances

We firmly believe that arbitrators that will deal with disputes on the WORBLI network need to possess certain qualities to be qualified for the job: strong moral compass, good education, independence, unquestionable honesty, experience with the law, and emotional stability. We thoroughly vetted Ben before deciding to appoint him, including rigorous background checks and references from people he has worked with. We are confident that Ben is well-suited for the job and will contribute to the further development of WORBLI’s arbitration rules and processes.

Of course, just appointing someone that we believe will do a good job is not enough. We have devised a process where we believe it will be nearly impossible for an arbitrator to harm a network participant, whether it is intentional or not.

Arbitrators in the WORBLI network only have the power to decide on disputes. Once an award is given, a request is sent to the WORBLI Foundation executive body, which is responsible for executing it. Our goal is to achieve the division of powers that is paramount in modern governance theory. The executive body has the power to execute decisions, but it cannot do that unless a decision has been made in the first place. The arbitrators (and other decision-making bodies such as the Foundation internal regulatory body) have the power to make decisions but not to execute them. This makes it impossible for a single actor to do harm. Further, each privileged action that is performed on the network as a result of a decision is put on-chain to be fully auditable and accessible by anyone. This kind of transparency is unprecedented outside of the blockchain world, and we are hopeful it will lead to a better and more transparent future.

Parties to a dispute have the right to appeal if they feel the decision was unfair. Ultimately, any arbitrator decision can be challenged in court, so we can always fall back to the established legal system.

Additionally, we will be implementing more checks on the arbitrator decisions, such as peer review of cases and a new role that we call “the ombudsman”. The ombudsman will have the power to inquire into any case and investigate it for abuse of power or audit the reasoning behind the decision. The ombudsman will not have the power to decide on a case but will be able to initiate claims on behalf of everyone or reopen old cases if they are deemed to be processed incorrectly.

We believe that this is an important step in the development and decentralization of the WORBLI network and we are looking forward to seeing how it will be utilized in the future. The ability to fairly resolve disputes between network users sets the foundation for a global financial ecosystem.

To learn more about WORBLI or create an account? visit www.worbli.io

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WORBLI Dispute Resolution was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.

Compliance as a Service (CaaS) Comes to WORBLI

WORBLI — Wed, 27 Nov 2019 13:56:01 GMT

WORBLI’s Strategic partner Agenix will offer CaaS to applications on the WORBLi network looking to reduce regulatory friction.

With the recent announcement of FinCEN and FATF guidelines, it has become more expensive for new applications in the DeFi (Decentralized Finance) space to build on Enterprise-grade platforms. For many, the idea of scaling a compliance team in order to safely navigate the new regulatory landscape is unreasonable

Agenix, an independent software and development company formed by members of the WORBLI launch team has announced Compliance as a Service is coming to WORBLI. CaaS brings the latest compliance tools and automation to keep applications running safe and free from regulatory scrutiny.

Businesses must navigate compliance regulations that are specific to their industry. If they ignore those regulations they can face serious fines. In the blockchain space, many businesses have tried to avoid regulators. In 2017 the SEC brought a little over a dozen enforcement actions against companies conducting token sales. In 2018 the SEC opened well over 200 potential investigations on blockchain-based businesses. Based on those numbers the strategy to ignore regulators is not a good idea.

For many blockchain DeFi businesses, compliance requires the development of a new skill set or the acquisition of new team members. It can also be expensive, complicated and downright confusing. Agenix seeks to help applications on the WORBLI chain ease that friction by bringing a new toolset to manage your application from the ground up. This will allow application developers and companies to focus on what they love most; providing the emerging blockchain space with innovative and exciting products and services. This actually comes at a lower price point than new and scaling applications would be able to achieve on their own. Agenix will offer the following services to applications within the CaaS product:

Risk-based approach with AML program consulting and compliance reviews
Backend case and alert management
GDPR compliant Transactional monitoring services
Automatic submission of SAR reports and other reporting requirements to regulating entities
Regular updates and optimization on the health of your compliance program

Applications will benefit from pooled AML transactional price tiers offered by Agenix while taking advantage of free AML/KYC user registration and ongoing AML checks against watchlists provided by the WORBLI foundation. This ensures complete and holistic adherence to all of the new regulatory specifications without the steep learning curve. It is estimated that implementing CaaS can save the average application $250-$500K and 6 months of development time.

Sean Anderson, the WORBLI Business Development Director and one of the Co-Founders of Agenix had this to say about the new CaaS addition to the WORBLI chain:

“CaaS is another great solution that we’re offering for businesses that are looking to build faster and more secure fintech applications. It’s about automating a complex process and creating a secure, inexpensive, and accessible path for developers who are looking to overcome some of these new regulatory hurdles.”

Through the CaaS offering, WORBLI and Agenix are enabling the next generation of compliant DeFi applications while ensuring access, scalability, and affordability to developers. At the end of the day, reducing regulatory friction for development teams will benefit the end-users of blockchain applications with cheaper and better products.

If you want to learn about how Agenix’s CaaS can help your application and business feel free to reach out to hello@agenix.io

To learn more about WORBLI or create an account? visit www.worbli.io

Join the discussion in our Telegram channels:
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Compliance as a Service (CaaS) Comes to WORBLI was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.

WORBLI Dispute Resolution (WDR) is Live

WORBLI — Mon, 25 Nov 2019 13:46:01 GMT

This feature of the WORBLI platform is now available to WORBLI users and applications.

Dispute resolution is a critical process for businesses and customers. It allows for efficient resolution of grievances which saves everyone involved time and money. Please note the WDR has separate executive power from WORBLI’s executive authority.

We will be discussing this in the coming weeks in greater detail in the Decentralize WORBLI series of articles. The next article for that series is an overview of the WORBLI Governance Model (WGM).

To learn more about WORBLI or create an account? visit www.worbli.io

Join the discussion in our Telegram channels:
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WORBLI Dispute Resolution (WDR) is Live was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.

Endless Knot, Endless Chain and a Bottomless Bowl of Stew

WORBLI — Tue, 19 Nov 2019 20:14:19 GMT

The WORBLI Brand is Evolving

I love a good stew. Not frozen or that over-salted, preservative-laden mush in a can, but freshly made — thick and hardy — a robust blend of ingredients. When the right combination of victuals* come together, it’s hard to beat, especially on a cold winter night. Stew is a single dish with many elements creating a fusion of flavor. Leftover stew can even be better and when there is not enough to go around, fresh ingredients can be added to that base, building a new meal. And if the blend is right, the flavor will still be spectacular. If there are leftovers a second night, the process repeats.

I have a leftover stew in my fridge right now that has been built upon and added too since 2003. OK, not really but you get the idea — a bottomless bowl of stew.

Identity is like a stew. Each person’s identity is a mixture of our experiences, values, relationships, and memories. These ingredients make up one’s sense of self. This fusion of ingredients creates a steady sense of who one is throughout life. As we experience or discover new facets over time, those new flavors are simply stirred into our identity and change happens.

Over the past 24 months, the identity of WORBLI has developed and grown. The path we started down originally — to be a compliant chain, we are still on. However, when we launched the chain 12 months ago, a refining of the vision took place, more elements (ingredients) were added and the flavor has deepened. Who we are — our identity — has grown. I’d get into that more but we spent a good deal of time discussing that in our “WORBLI Year One” video. With that growth, it became evident that the refining of WORBLI needed to be reflected in our branding.

Our old look…

Our new look…

The Font

As a blockchain, WORBLI is completely unique, so we needed a unique font with an eye to the future. Something with an edge, professional and strong.

The Icon

Over the past couple of days, I have enjoyed reading the various interpretations of the WORBLI icon in private messages and on social media channels.

Thor’s Hammer — Mjölnir
The communist hammer
FLT (upside down — with a backward L) for Faster than Light Travel
FJT (upside down) Faster than Jolan tru (Romulan for Find Peace) and Faster than Jim Thorpe (Thorpe was fast)
The Checkered Flag of racing (speed)
A Klingon bat’leth — Apparently there are a few Star Trek fans out there
Batman’s “Batplane”

Some very clever interpretations, but what does it really represent?

As is pretty clear, there are many ways to interpret the design. I am always thinking of new stories and I like the stories that other people come up with — especially Mjölnir. The subjective nature of design explains the variety of stories and ideas. I spent years as a designer and I have heard many people say “I’m looking for a clean design.”

When pressed for examples, I received these…

As you can see, “clean design” means different things to different people depending on their unique set of life experiences, personal story and the story they would like the logo of their company to tell. For WORBLI, telling our story and the picture it paints in our logo is important.

Here’s what we see and what we hope you will see as well.

Most people can see the W… for WORBLI. Within that W is the story. There are two more elements to the design, linked in a subtle way.

Each point of the W is a block linked in the chain.
The W itself is also the Endless Knot or Celtic Knot. The interweaving points of the WORBLI knot represent our interdependence and interconnection with our team, our Block Producers, our strategic partners, our apps and our token holding community. The connection is continual and crucial for the ongoing growth and development of the ecosystem.

The connection is important because it creates accessibility so others can participate in the ecosystem. As WORBLI creates smarter, faster and more secure blockchain solutions, access will be easier for everyone.

Over the next week, our social media and internal branding will change to reflect the fusion of flavor and the interconnected nature of the WORBLI network.

Story by Sean Anderson — WORBLI Business Development

To learn more about WORBLI or create an account? visit www.worbli.io

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*Victuals: This word should really make a comeback

Endless Knot, Endless Chain and a Bottomless Bowl of Stew was originally published in WORBLI Ecosystem on Medium, where people are continuing the conversation by highlighting and responding to this story.