First Ever Digitalized Bank: AFRICUNIA

First Ever Digitalized Bank: AFRICUNIA

By insidetrader | HODL the Universe | 6 Jun 2020


After the first mined block of 3rd of January 2009, the world started to change and revolutionize completely. ‘’The Genesis Block’’ will provide us to discover the newest and best financial system up to now. But there are some confusions about how to implement Blockchain Technology and its products into our daily lives. For example ‘’security’’, ‘’trust’’ and some other problems are still creating discussions around the world population to use cryptocurrencies as assets or not. Within this environment, on the last days of 2017 Africunia idea begins to take shape in the mind of Don Chancellor, the founder and president of Africunia, and his talented team. After that date, nothing will remain the same as before.

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Africunia has registered in the UK as ‘’Global Banking and Financial System’’ platform and has specific meaning behind it. In Latin, CUNIA comes from the word ‘’percunia’’ which means money and ‘’afri’’ directs us to continent Africa. When we consolidate these simple but brilliant two words, we get the main purpose behind the creation of ‘’Africunia’’. When we translate it, Africunia means ‘’African Cash’’. But the mystery behind is the revolution aim of it via using blockchain technology. We can say that some of the countries like Japan or Switzerland have agreed to use Bitcoin or other major cryptocurrencies as payment methods instead of bank transfers but we must go too long a way to reach ‘’Blockchain Mass Adoption’’. At that point, Africunia takes place to overcome this situation. Africunia intends to bring investment globalization, transparency and decentralized world of crypto assets into our daily routine via bringing all of the new generation’s features into one platform.

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How Afrucunia platform works?

Africunia aims to bring all of the current financial system’s features and the new generation crypto world’s features into the same place. It means that on this platform, customers will be able to both go on their current jobs/ market predispositions/ investments etc… but every single step will be scalable. So the customers can use cryptos to gain more fiat and also the fiat for gaining more and more cryptos at the same time. In this step, the ‘’bank’’ feature of Africunia is getting clear because everyone comes and brings his/her money to it and the platform utilizes this money to further the income of their customers without leaving the comfort of blockchain technology.

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After the complete implementation of the new generation into the current financial system, the purpose of Africunia won’t end. They are also targeting to cause revolutionary waves for insurancehealthcare and government department services all around the world. As we can understand here, they want to change our daily lives totally by lowering the investment and robbery risks, creating more revenue for every participant and destroying the barriers to reach money.

 

What is the main tool for Africunia?

Every platform, every exchange, every bank needs its own product to continue its relevant workings. Just like the others, Africunia has its own tokens named AFCASH. It will act as the main bridge between conventional currencies and the digital world. This token is created on the Ethereum ERC20 blockchain. Despite the scalability problems of ERC20, it’s firstly created on it but it’s inevitable to swap into its own mainnet infrastructure in the near future because it’s already known that ERC20 chain has big mistakes to store and utilize such a huge amount of data.

50% of total tokens will be distributed to public contributors, 30% is reserved for Africunia Foundation and the remaining are allocated to the founders and partners.  ICO organized and finished within the first half of 2018 and AFCASH has sold 1$ per token. Also at the end of each financial year, 20% of total revenue will be distributed to token holders as passive income. They envisage AFCASH 4 main details namely; creating a global communityfully token based infrastructureprivacy-first and leader in security section.

 

Up to now, several crypto news websites have prepared the news about Africunia. You can check DigitalJournalValueInvestingNews and DailyTimesLeader. For further investigation; please visit website, join Telegram and Twitter and read on BitcoinTalk or WhitePaper.

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This article is cross-posted on my blog at read.cash.


insidetrader
insidetrader

Freelance crypto writer & translator


HODL the Universe
HODL the Universe

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