No. Here’s how Wollo differs from Bitcoin:

1) Bitcoin is dependent on mining (i.e. rewarding the computers that verify the transactions with cryptocurrency). Wollo, however, can’t be mined because there is a fixed token supply.

2) Bitcoin has become seen as an investment vehicle in recent years, rather than a currency in the day to day sense. That’s largely because it can be very slow and very expensive to transfer Bitcoin. Transferring Wollo, however, is very cheap and very quick (whatever the amount) because we designed Wollo to be used in everyday life.

3) Wollo exists on a different distributed computer network and ledger (a.k.a. blockchain) to Bitcoin, called Stellar. Bitcoin exists on its own blockchain called the Bitcoin Blockchain. The Stellar network is specifically designed for fast, secure and (almost) free micro-payments, national and international, and is therefore the perfect choice for Wollo.

However, Wollo is similar to Bitcoin and other “cryptocurrencies” in that it benefits from the highest levels of security as it is digitally-secured using advanced cryptographic techniques (effectively encryption using mathematics) and running independent of the costs and bureaucracy of the traditional financial and banking system. 

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