Wanchain is seeking a way to revolutionize banking and the way that consumers and business interact with each other by means of a distributed financial infrastructure that seamlessly connects Blockchain networks together. It can offer private transactions, that no one but the sender and the receiver can see.
Furthermore, it is also a Blockchain network that can operate independently. It includes native coins, supports smart.
Additionally, anyone can develop financial applications to suit their needs on Wanchain by following the application guidelines. Finally, it has a Wan Wallet that is up and running a has recently partnered with Kyber Network to position itself as a game changer.
Wanchain had a 24-hour ICO between Oct. 3-4 2017, where it raised $36 mln in funding and currently has a market cap of $260 mln. Token entry price was $4.37 in March 2018 and it rose to a high of $9.82 on May 3 before sliding all the way down to $2.43 at the time of writing. Additionally, it appears to have a downwards trajectory in general.
Connecting currencies and institutions
Wanchain aims to build a super financial market of digital assets. It is an infrastructure connecting different digital assets. With its system, financial services based on different digital assets can be carried out in a distributed way, finally forming a financial market composed of different business providers, application developers and clients.
Wanchain will provide services such as:
Exchange– users will be able to transact across multiple token exchanges.
Crypto Loans– users will be able to lend and loan cryptocurrencies a decentralised way.
Cryptocurrency Investments– A variety of investment options with cross chain transactions.
Cryptocurrency Crowdfunding – ICO’s will be able to accept multi-cryptocurrencies, instead of only one or two currently.
Jack Lu, CEO and founder, graduated from Peking University and Ohio State. He is a Blockchain entrepreneur and technical expert, as he co-founded several other tech companies.
Li Ni, VP, graduated from Peking University with BA degree and acquired Master Degree of Science (MSc) in Computer Science with Distinction from University of Durham, UK. Ni has more than 15 years in IT. Before joining Wanchain, he worked for ZTE Telecommunication, Delta Electronics and SuperMap Software as directors and principals in business teams.
Oliver Birch, VP Global Communications, graduated from Lancaster University with BA in Philosophy, Politics and Economics. He has managed several clinical research sites and was a project manager for several start-up companies with years of experience working in the altcoin crypto space community: advising, blogging and admin work.
There are 22 other high-profile team members listed on the website.
Beta 2.0 live, but what is next?
Wanchain has its wallet online and now it’s testnet is in alpha 2.0 since May 2018, but what is next for the company? The road map lists only two points for 2018: the launch of Wanchain 1 in January and the launch of Wanchain 3 in December 2018, with nothing in between. Checking out the Twitter feed the company has been active in many Blockchain events around the world but has been relatively silent on developments since the launch of Wanchain alpha testnet 2.0 in May.
Update: Breaking news!
On Jul 7 WAN’s mainnet 2.0 with ETH went live providing cross chain transactions. Being able to provide cross chain transactions without an exchange 2.0 goes live today. This is another step in the direction towards decentralized exchanges, however, how is the crypto community reacting to the idea of decentralized exchanges? Wan Chain was unavailable to comment on this development and the launch of the new mainnet.