WEWE Global, a platform, a community, and an increasing curiosity. As rumors on the web concerning this project run between positive and negative opinions, our goal in this article is to clarify: What is WEWE Global and, honestly, it is a good or a bad idea?
We performed our research on the web and, within the information on the official channel, we found and contacted many websites of fans and users. We also collected negative opinions, from those who stated that WEWE is just “a nice dream.” We analyzed all of this, including criticisms, to find the truth.
What is it?
Beginning with the base and then to the product itself, WEWE Global is an online platform – http://wewe.global/ -, where you can only register if you have a platform member account code. For those who are curious, you can find a referral link to sign up anywhere on the web, but we have used the referral link of a someone present on the platform. We then contacted that person to explain what it consists of. We call this person “The Ambassador.”
Once an account is created, the platform asks you to verify your identity (your WEWE ID). As this is not an anonymous platform, we contacted the WEWE Global team to ask if it was possible to skip this step. An assistant informed us that this step is mandatory as WEWE works globally in compliance with AMLD5 regulations. Taking that as a challenge, we entered random data; the account was suspended quickly, and the team informed us of the reason through an email. Apparently, they cannot stand those who waste their time.
We then did things correctly, registration our information. It was verified on the evening of the following day, approximately thirty hours after submission.
Meanwhile, we browsed through the features of the WEWE Global platform. We viewed in the settings that it is possible to set the facial recognition system as verification for processing transactions. We had to wait for the ID verification to be completed, but just to let you know how it went: we completed the registration and used the confirmation with the facial recognition system for our first purchase. Honestly, we didn’t expect this feature; that’s a rare thing for a website, so hats off to WEWE Global.
Let’s move on to the products. We see that we have two wallets, one for the WEWE virtual tokens and one for the Bitcoin. These are used to buy internal products and services. We start by purchasing a membership that is a sort of package with a “taste” of all available products inside. Our Ambassador explains the products with great availability, also because he would have received a reward from our purchase.
The referral system is nothing new; everyone and everything has a referral program, from Uber with free rides, to Airbnb with their booking discount, to the banks.
The referral system, as common as it is, is always a big question mark when it comes to digital projects. One of the criticisms we found, or rather accusations, is precisely that WEWE is an unsustainable project due to the referral system. We talk about this later.
If well planned, a referral system can be a winning card. All companies, whether a start-up or a multinational, need customers, and what better way than a friend’s word of mouth? WEWE Global knows this well, because only by word of mouth have they created a community of thousands of people worldwide. Asia, Europe and South America appear to be the main centers. On the web, we did not find official social pages for the project, which left us amazed; our Ambassador told us that it is because WEWE gives users the responsibility to spread.
Who controls WEWE then?
WEWE Global is a DAO which seemingly has followed the example of Dash in decentralized infrastructure management. We asked our Ambassador his thoughts on this WEWE DAO, since it is an anonymous group, and he said:
“It can be bizarre not to know the faces of those who manage a project. Absurdly, this weirdness was WEWE’s strength because it made us members feel responsible. Here, it is not a matter of making registration and completing a couple of purchases. Here, everything depends on us, and this makes me feel to be pro-active for me, the people I have invited, and the whole community. It’s good to know that this DAO, however mysterious it may seem, listens to its users. We can send advice and requests and, in the past, they have been approved, such as the early publication of the WEWE app.”
The goal of WEWE Global is to be “global” both inside and out. WEWE wants to create an all-in-one interface where the user can log in with a WEWE ID and use all of its services and products. The interface is the platform, and this year, it will also be an app that will integrate a payment service.
Linking back to the membership we purchased, worth $500, here are the products we had access to, thanks to it:
– We received a total travel voucher worth $1000, usable on the website Travel4You to pay for part of a hotel stay with our WEWE, enabling us to take advantage of the discounts on the website.
– We received key app licenses: Ambassador explains that you have purchased a number of applications that will be distributed to customers, mine or random customers. They consist of codes on the WEWE application, with which purchases and transactions can be made. And once the apps have been downloaded, we receive rewards from the use of the customers who will download the apps that we have paid for. So their download will be free thanks to us, which is as if we had paid the app for them. Then we will be rewarded when they use the app. We have to wait a few more months for the app to be released to the market, and then users will start to download and use it.
– My membership also includes video courses on the blockchain and cryptocurrencies. Since the app can be used with cryptocurrencies, such as Bitcoin and other altcoins, it is strictly to give a mixture of what they are to the members.
WEWE Global is a Ponzi or not?
Guess that the most of our past readers will focus on this part. Aware of this, we made an accurate analysis.
What makes a system a Ponzi scheme, are:
– the promise of an investment with high returns in a short time
– earning money is distributed, but in reality, that money is money from new investors
– the scheme falls when there are no more new investors and therefore the old ones can no longer be paid, then they stop inviting new people, and the system collapses.
At least three weeks looking for an answer, which in the end is: WEWE is not a Ponzi scheme. Let’s see why.
– WEWE is not an investment. On their official website, they specify it very clearly in their terms and conditions of use, and we actually do not see any promises of profit anywhere either.
– What you receive as a reward, called “incentives for work and incentives for service”, are unguaranteed rewards. In short, we have no certainty that we will receive rewards from the product we purchase. It all depends on whether WEWE and its services will be used.
– WEWE presents it as a project that distributes wealth also to the community. Precisely, this wealth is not guaranteed and its members will receive it only if there is something to distribute. Now we understand even more the sense of responsibility that the Ambassador spoke of.
– The development of services was only possible with the growth of its users. WEWE DAO knows that once released, the services in the application will be used. The more users there will be, the more WEWE will be wealthy. Obviously, a wealth that will be used to support the project and reward the community.
Let’s say that tomorrow no more new users enter and that even current users no longer log in to their WEWE Global account and do not use the services. What would happen? We sent this question to the WEWE Global platform team and they answered it. “Well, WEWE Global would fail.” Maybe we should have expected an obvious answer to a dummy’s question! Even Amazon would fail if no one ordered more and even the richest man in the world, Jeff Bezos, should consider a new path to start from. However, we know that it will never happen to Amazon, because there are many loyal customers who can no longer live without their service. The WEWE group also seems attached to the project.
Let’s sum it up
We appreciated the honesty of a digital and referral project that says in large letters that nothing is guaranteed here: a project is being built, and a business can be good and bad. If all goes well, all users enjoy this achievement. That’s a particular feature since no online services reward their users only for the usage.
It is more difficult to evaluate their final product, the app. We would have been happy to test the WEWE payment service, which lets you pay with cryptocurrencies using your smartphone in stores with POS NFC while the shop receives dollars, euros, or their state currency. We like the idea of being able to use the cryptocurrencies we otherwise keep in wallets, unused. The Ambassador told us that already in the next month some chosen members will have it on their smartphone and can test it on the field (here is a video preview on Youtube: https://youtu.be/N10XChcLjg4). It means that we will make a new check in a couple of months for a new article on the WEWE project. Stay tuned!