SINGAPORE, Jan. 15, 2019 /PRNewswire/ -- WORBLI, a Blockchain infrastructure for an efficient, honest, and accessible financial system [Token: WBI] has entered into a deal with TokenOro, a global gold mining business operated by a highly experienced team of business, commodity and mining professionals. TokenOro has constructed a unique tokenization model allowing token-holders to benefit from current ownership of gold as well as share in profit gold from future production.
TokenOro has selected WORBLI to provide the infrastructure to deliver the first gold-backed security token to the market. For companies like TokenOro, WORBLI powers the ability to expand the liquidity base enabling a more cost-effective and wide-reaching distribution capability.
For WORBLI users, TokenOro will allow fractional ownership of assets typically only accessible to specific groups and begins the long-awaited disintermediation of traditional financial oligopolies.
"WORBLI is dedicated to empowering businesses and users. TokenOro is one of many innovative blockchain projects WORBLI is working with to bring new opportunities to everyone," Domenic Thomas, CEO of WORBLI said. "Individuals are often limited to products like internet stock trading, mutual funds, and employer-issued retirement accounts. WORBLI is engaging businesses to bring a wider range of financial opportunities to users."
Tokenizing gold-based securities provides an immutable ledger of all tokens sales enabling the distribution of the securities via smart secure contracts. This simplified process enables accessibility, divisibility, cost-effectiveness, and transparency. These processes will be automated via custom software being created by the WORBLI foundation and its service partners.
This security token offering will only be available to accredited investors in the early stages, but TokenOro has begun the regulatory processes to enable global individual investor participation in the future.
This first tokenization project sets the standards for future projects removing geographic and wealth barriers, middlemen and cost friction, whilst enhancing liquidity on tangible assets with wider distribution and ownership.
TokenOro CEO Jim McKenzie has over 50 years as a global executive with 22 years in the precious metals and mining industries and is the Chairman of Alamako International and CEO of Golden Rule Mining.
"Having TokenOro on WORBLI is a perfect fit. Between development and marketing, the resources WORBLI brings to the table are tremendous. With WORBLI's help, TokenOro is providing access to a token that will fundamentally disrupt an industry in a positive way," McKenzie said.
The business development team at WORBLI is selecting the best enterprise-level applications to build out its ecosystem of applications and has a pipeline of multiple applications to launch in 2019. In addition to TokenOro, several others are due to launch on WORBLI in the coming months including an innovative trading platform, a decentralized risk transfer application built for the insurance industry and a digital asset to fiat currency conversion as a key account feature. These applications support WORBLI to develop relationships with businesses who are building the next generation of banking and payment applications. This will enable a new era where transactions via cryptocurrencies are simple, fast, and affordable.
WORBLI is the infrastructure for an efficient, honest, and accessible financial system.
Built on EOSIO technology for enterprises and individuals to unlock the potential of blockchain technology, WORBLI is an ecosystem where everybody can benefit from a network that is compliant with industry standards and financial regulatory requirements. This allows developers and enterprises to easily build their own financial applications on WORBLI benefitting from fast and low-cost transactions, integrated AML/KYC compliance, and secure protocols for recovering accounts.
Nothing contained in this press release constitutes a solicitation to acquire the TokenOro token, a recommendation of TokenOro or the acquisition of the TokenOro token or an endorsement by WORBLI of the same to any person. Nothing contained in this press release constitutes or shall be deemed to constitute financial, legal, tax or other advice of any kind.
This release is published solely for informational purposes and has no regard to the specific objectives, financial situation or particular needs of any person. Information contained herein is believed to be reliable but no warranty is given as to its accuracy or completeness and views and opinions are subject to change without notice.
This press release is not directed at any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where the content of this press release would be contrary to law or regulation or which would subject us to any registration or licensing requirement within such jurisdiction.
WORBLI, INCLUDING ITS DIRECTORS, AGENTS, EMPLOYEES, CONTRACTORS AND PARTNERS DISCLAIM, IN FULL ACCORDANCE WITH THE LAW IN FORCE, ANY LIABILITY FOR LOSSES OR DAMAGE OF ANY KIND ARISING DIRECTLY OR INDIRECTLY AS A RESULT OF: (1) YOUR RELIANCE ON THE INFORMATION CONTAINED WITHIN THIS PRESS RELEASE, (2) YOUR ACQUISITION OF TOKENORO SECURITY TOKENS, (3) THE CONTENT OF THIS PRESS RELEASE, IN PARTICULAR ITS UP-TO-DATE NATURE, ACCURACY AND COMPLETENESS (4) ERRORS OR OMISSIONS IN THE RELEASE; (5) USE OF OR ACCESS TO THE PRESS RELEASE.