From something I suggested in another thread.

A 20-20 world Series would consist of 16 teams in a sudden death comp that travels to five different locations in one series. The host nation only requires 2 weekends. 8 test teams are randomly placed with 8 assocaites 16>8>4>2 each win is 2 points, if a match is washed out each team gets a point each, however the highest ranked team will progess. at the end of the series a team is crowned world champs.

this in someway follows the rugby 7s formular.