Winco is a platform that aims to create a network of companies and startups currently seeking investments. Find out how it works today in our review.
What is Winco?
Winco, found online at Winco.io, describes itself as “an inclusive platform bringing together the blockchain technology and non-digital businesses.” The ecosystem revolves around and cryptocurrency called WCO. A token sale for WCO tokens is underway throughout February, March, and April 2018.
There’s limited information available online at Winco.io – like what problems the company seeks to solve, why its digital currency is better than other digital currencies, or why anyone would pay real money for a WCO token today. Overall, there isn’t much to suggest that Winco is a legitimate company seeking legitimate investors. Nevertheless, let’s take a closer look at how Winco works.
How Does Winco Work?
Winco tokens are ERC20 tokens on the Ethereum blockchain. You’ll be able to spend WCO tokens in the Winco marketplace.
The Winco marketplace will consist of startups and other companies. You’ll be able to spend WCO tokens on real projects offered by the companies. Winco will post projects online, then allow users to invest in those projects using WCO tokens. It’s not totally clear how this system works, but here’s how Winco’s whitepaper describes it:
“The official site will be linked to startups, franchise units and real estate projects that will accept Winco as payment method. In the official list of projects, they will have detailed information on each project, delivery date, valuation estimates of the project and 24-hour real-time monitoring of works via camera. Startups, franchise units and properties that will accept Winco will be listed on the official website.”
Meanwhile, Winco will have a payment platform through oPay. You’ll be able to download the oPay application to transfer money into the Winco platform.
Right now, the Winco whitepaper lists just three companies that accept payments in Winco tokens, including Divino (a consolidated barbershop franchise network), Vivali (a real estate company), and 14bit (a cryptocurrency exchange). You can open the oPay application to pay all of these companies using Winco tokens.
The whitepaper also mentions a real estate project called WinnLife Residential that was added to the Winco network in January 2018.
The overall goal of Winco is to create a platform where users can invest in startup companies in a decentralized way. The goal is to create a network of companies that are seeking investments, and then allow individual users to invest WCO tokens into these companies. However, it’s unclear how these companies would spend WCO tokens, or why any company would want to receive WCO tokens as an investment.
How Do WCO Tokens Work?
Winco will allow you to spend WCO tokens on all of the following types of products and services:
- Real estate markets, including commercial and residential real estate corporations
- Franchising, including product franchising and physical/virtual services
- “Apps for network for the online and offline retail network”
- Startups, including providing decentralized financing for new businesses
The Winco WCO Token Sale
The token sale for Winco tokens, or WCO, is taking place from January to April 2018. The pre-sale in January released 500 million WCO tokens. A total of 700 million tokens were released in February during the main token sale.
There will be a total supply of 7.5 billion WCO tokens, with 452,580,800 (about 6% of the total supply) reserved for the team and 3 billion (about 40% of the total supply) reserved for “partners”. The remaining 4.2 billion tokens are being distributed to the market.
Who’s Behind Winco?
Winco was co-founded by Peter Marks and Ezequiel Vicente.
There’s no information about either co-founder available online. The Winco page lists a complete list of team members. However, there are no links to additional LinkedIn profiles or other social media pages for any members of the team. Google returns no relevant results for “Peter Marks Winco” or “Peter Marks crypto”, nor can we find any additional information about Ezequiel Vicente. We don’t know where Winco is based.
Ultimately, Winco appears to offer transparency – but when you take a closer look, it’s hard to verify any of the team information posted online.
Winco ICO (WCO Token) Conclusion
Winco is a vague and poorly-explained project. The company appears to be creating a platform to provide decentralized funding for startups. However, the whitepaper and website do a poor job of explaining any aspects of the project – like how Winco differentiates itself from other providers or crowdfunding platforms. The company is selling WCO tokens until April 2018. However, it’s not clear where these tokens will be usable or sold.
Winco seems to want to create a network of startup companies seeking investments. These companies can attract investors through the Winco network. Then, investors can invest WCO tokens in each startup. However, it’s unclear what a company would do with WCO tokens, or why any company would want to accept WCO tokens.
To learn more about Winco and how it works, visit online today at Winco.io.