WorldCoin Strategy in 2016

The strategy consists in innovating with technology that the final user can see and experience directly.

All this implies that we will resume re basing BTC’s block chain technology at some point in the future with only the necessary modifications to support WDC. This will allow us to take advantage of BTC’s quality assurance process which absolutely no coin can surpass, making WDC’s block chain extremely stable and dependable. From the user point of view we will develop tens of components and functionality unique to WDC.

Some supporters will assert that PoW is a dead technology and the future is PoS + something but in practice we know that PoS, DPoS etc generate their own set of problems and none of them are proved to scale as good as theory states, what’s more no coin which started to use these technologies, have shown growth in value after one or two years after initial launch; if you don’t believe us, just check top 30 coins  that use these schemes, all of them declined in value after one or two years  in the market (except one that has forged an unrelated partnership); the main reason for this is that investors bet heavily when these coins launch and after a couple of years they start selling because the interest keeps going down, so the buying pressure slowly decreases with time. Only a few PoW coins were the only ones that managed to show growth after a few years.

This doesn’t mean that we think PoS + something is a bad technology it just means that until it is proven to scale and adopted by companies we won’t invest time and resources changing scheme for the time being.

Another thing that PoW doomers don’t take into account is that PoW is the only technology that has managed to create a real industry around it (ASICS) and this won’t die easily, BTC and LTC growth is living proof of this assertion. No other technology was able to create a real industry around it.

Having said that, we know that bare PoW is not the ultimate solution and probably in the future we will change the scheme when current issues start to bite (scaling for example), but we will wait until a proven solution heavily backed by big and serious organizations arrives; in this regard OpenLedger (backed by IBM, Cisco and other companies) seems very promising. Meanwhile we will keep making progress on technology that users will be able to experience without too steep learning curve. Also thanks to our auto update tool and to the complete separation of functional layers in WBC, we are in the unique position to offer the smoothest transition process when a hard fork is required in the future. In other words we are preparing actively for the moment that changing block chain technology becomes necessary, so we could transition as painlessly as possible without changing anything from the user experience point of view.

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