AFRICUNIA Blockchain Digital Bank would be a new and unique Financial Institution that would offer not only traditional banking services related to opening of savings & current accounts, issuing of debit & credit cards, loans and forex exchange services but also will provide innovative banking services such as bank-to-bank transactions, interconnecting the world of traditional finance and cryptocurrency startups." - This quote was gotten from the Africunia Website - https://africunia.comStill hazy on the details? Check out the break down below..
In case you were wondering, the main objective of this project is to develop a new standard for tokenized investment that will act as a catalyst of bridging the gap between the fiat and cryptocurrencies. It will be the 1st African Crowdfunded Open Bank and it would have its own digital currency called AFCASH which is open for purchase during the Initial Coin Offering (ICO).
So, it is only safe to say that The AFRICUNIA BANK project is going to be a 100% fully Digital Bank - a digital bank based on the concept of Decentralised Ledger Technology - Blockchain. The new and unique Financial Institution is going to offer not only traditional bank services such as opening of savings & current accounts, issuing of debit & credit cards, loans/lending, exchange but also would interconnect the world of traditional finance and cryptocurrency Startups.
Pretty exciting stuff huh? There's more!
The Solution
AFRICUNIA knows the challenges of the economy and it is bringing a new kind of bank which operates on the digital currency based on the blockchain technology. They are trying to bridge the gap between the traditional banking and the digital currency. Creating solutions for the banks to invest in the right cryptocurrency is one of the core missions of the platform.
The Features
Here are some of the primary features the Blockchain Technology and Digital Bank Ecosystem:
APIs
EMIs
Commercial Bank license
Digital Pass Technology
Internet of Things (IoT)
Big Data
Applied Artificial Intelligence (AI)
Credit & Debit Cards
Lending/Loans
Savings, Current & Checking Accounts
Decentralised Ledger Technology
Smart Contracts
Instant and scalable transactions therefore over-the-counter and Point of Sale (POS) payments will be a cakewalk and as easy as ABC
Others are;
Sustainable investment in the tokenized funds which is fully compliant with all the laws
Transparent Investment Platform based on the accountability and blockchain technology
Varied class of investment options on the platform with low cost of entry
AFRICUNIA PROTOCOL CONSENSUS ALGORITHM(APCA) to solve the computing problems
AFCASH is the value exchange mechanism on the platform which will bridge the gap between the fiat currency and cryptocurrency
Digital Pass Technology for the security of the data stored on the AFRICUNIA Banking platform
The AFRICUNIA Technologies
To live inside the constraints of Traditional Banking, they will make probably essentially the foremost of API (Authorized Payment Institutions) hence employing the proper criteria of innovation and services.
The foundation of AFRICUNIA BANK is capital spent increasing has been adjusted to the purchase increase in turn maximizing revenue return.
Additionally, so a lot as the technology safety is involved our network layout is decentralized. Thus, instruments attach information garage safety and encryption mechanism of folks or businesses.
Processing of Information is Automatic by a technique of utilized AI algorithms.
Blockchain Technology will revolutionize the situation that is digital. It has the capability to interrupt businesses, but particularly the banking industry, and create processes secure more democratic and productive. There’s a challenge and people expect payment processing in real time, although in this era all payments have been made. Transferring funds is not just about transferring funds out of one from lender to another or from A to B. To guarantee satisfaction of receiver and sender, payment needs to be validated through an intermediary such a Correspondent Banks or Central Banks which suggests settlement can take rather a long time, oftentimes about two or more times for national obligations and 3 to 5 business days for global payments.
As said earlier, AFRICUNIA is inside the activity of executing AFCASH — a crypto — predicated on AFRICUNIA Protocol Consensus Algorithm (APCA) to shield the contemporary troubles of correctness, consensus, and usefulness the show protocols have partially solved. Again, the aim is to create a benchmark for investment that can work as a catalyst of bridging the hole among cryptocurrencies and the fiat.
Why Choose Blockchain?
They designed this platform to run using blockchain technology as the platform development platform. Since it's inception, blockchain comes with a fast and secure online transaction offering and is compatible with all types of data and cryptocurrencies. Blockchain technology uses a system, where each transaction is recorded and can not be changed forever, so transactions can be maintained and the likelihood of data fraud reduced. Blockchain is intrinsically resistant to the modification of the data involved. Blockchain is a growing list of notes, called blocks, connected and secured by cryptography. Each block usually contains a hash pointer as a link to the block, time stamp and data from previous transactions.
The Benefits
For Investors:
New opportunities to access assets from the fiat universe without leaving the cryptographic universe to be consoled.
Unprecedented diversification opportunities due to the low correlation between fixed and cryptographic assets.
Access to investment opportunities that can reduce the risk profile to complement and balance existing speculative exposures.
For Fiduciary Investors:
Provision of higher net returns, cost-effective for structures of tokenized funds
Access to new asset classes due to the lower barriers for a prepared fund and administration in the Africunia platform.
Now, I guess it's time to give you the details about investment.
Stay tuned!
Token Details
Token Symbol: AFCASH
Token Supply: 1,000,000,000 AFCASH
Total ICO Supply: 500,000,000
Circulating Supply: 1,000,000,000 AFCASH
Token Price: 1 AFCASH = $0.10 USD
Unsold Token: All UNSOLD TOKENS have been underwritten by MAINSAIL TRADING LTD (DUBAI) and IBB INTERNATIONAL HOLDINGS LIMITED (MALAYSIA) and would be taken over by the Financial Group.
Token Distribution
"THE FUND STRUCTURE
Definitely the fund structure will keep changing depending on the opinion made by legal our counsels. However, at this time 50% of AFCASH will be allocated to public contributors, 30% will remain the Company and Foundation reserve for projects development and for funding Social & Ecological projects. Fifteen percent (15%) will be reserved for Founding Members, 3% for the Advisors and Partners while the remaining 2% will be channeled towards distributions to our Bounty Campaigners.
THE SHARING REVENUE
At the end each Financial Year, 20% of AFRICUNIA BANK’s Profit will be distributed among all Holders of our Token (AFCASH) based on each Holder’s Share of total amount of Tokens issued, and this will be automatically paid out to our Coin Users in their respective Wallets. In other words, you are entitled to AFRICUNIA BANK’s revenue. Consider this as a PASSIVE INCOME." - This quote was gotten from the Africunia Website - https://africunia.com
ROADMAP - From the Africunia Whitepaper - https://africunia.com/wp-content/uploads/2018/02/AFCASH-Whitepaper.pdf
Milestone 1: 10th July 2017 to 1st January 2018
RESEARCH AND EXPERIMENT
Researching and experimenting with the APCA will be our first step in the Africunia journey. Our developers will develop dummy prototype of Blockchain system based on APCA and test it for correctness, consensus, and utility. We are already researching and experimenting with the APCA and its application in Blockchain. This phase will run up to 1st January 2018.
Milestone 2: 1st December 2017 to 31st December 2017
PRE-ICO
The AFCASH pre-order will open on 1st December 2017 and run for 4weeks up to 31st December 2017. We are targeting a yearly supply of 1 Billion AFCASH tokens but ICO circulating supply of 500 Million AFCASH.
Milestone 3: 1st January 2018 to 31st May 2018
ICO
The AFCASH ICO will start on 1st January 2018 and run for 5 months up to 31st May 2018.
Milestone 4: 1st July 2018 to 31st July 2018
DEVELOPMENT OF BLOCKCHAIN PROTOTYPES
At this stage, we will develop a Blockchain prototype that will help to eliminate ambiguities and enhance accuracy with our AFCASH crypto. We expect this step to take 4 weeks and will run from 1st March 2018 to 31st March 2018.
Milestone 5: 1st August 2018 to 30th September 2018
DEVELOPMENT OF THE BLOCKCHAIN BETA VERSION
A beta version of our AFCASH cryptocurrency will be developed to help developers understand the ecosystem better as further ambiguities are eliminated. We expect this phase to take a maximum of 8weeks.
Milestone 6: 1st October 2018 to 31st October 2018
TESTING OF THE ECOSYSTEM
We will test the system as a whole and ensure it is working properly and is interoperable with existing systems. This stage will take a maximum of 4weeks and will run from 1st October 2018 to 31st October 2018.
Milestone 7: 1st November 2018 to 30th November 2018
COMPLETE DEVELOPMENT OF OUR BLOCKCHAIN TECHNOLOGY
We expect the complete Blockchain Technology to be finished by 30th November 2018.
Milestone 8: 1st December 2018.
LAUNCH OF THE BLOCKCHAIN AND ECOSYSTEM
We hope to launch the Blockchain Ecosystem on 1st December 2018.
Milestone 9: December 2018
SOLIDIFICATION AND EXPANSION OF THE TECHNOLOGY
After the launch on December 1, the project will undergo continuous maintenance and development to address all IoT, Machine Learning and big data concerns.
AFRICUNIA BANKING ROADMAP
Milestone one: $2 Million
AUTHORIZED FINANCIAL PAYMENT SERVICES
Diverse Payment Services
Acquiring SWIFT Membership
Obtaining API License
EBA Clearing & Payment Systems (EURO1, STEP1, STEP2, MyBank)
Person to Person Payments & Loans
Investment Portfolios
European Payments Council RuleBooks and SDD Collection
Milestone two: $3 Million
eMONEY SERVICES
EMI License
Foreign Exchange (FX)
Capital loans for consumers
Acquiring Payments and Card Issuance
Milestone 3: $6 Million
COMMERCIAL BANK
Bank License
Crypto-based Point of Sale (PoS)
Debit Cards
Credit Cards
Current Accounts
Savings Deposits
Open API Applications
Card Memberships
Milestone four: $10 Million
DIGITAL PASS TECHNOLOGY
Hybrid Blockchain Technology (Browser-based Prove of Work & Prove of Stake)
Offline/Online/Ultra Thin Smart High Security Wallets
AML / KYC Protocols
Big Data Technology
Applied AI
Internet of Things (IoT) Technology
eSignatures
eSeals
Milestone five: $25 Million to $50 Million
SMALL AND MEDIUM SIZED ENTERPRISE FINANCIAL MARKETPLACES
Insurance & Brokerage Services
CrowdFunding
Venture Capital Funding in BioTechnology & ICT
Private Equity Funding
Small Business Funding and Loan Matching Services
Fiat FX & Cryptocurrency Exchange/Trading
Milestone six: $50 Million to $100 Million
CROWDFUNDING/VENTURE CAPITAL FUNDING/INSURANCE & BROKERAGE SERVICES
If we are able to realize funds above $50 Million we will use same to capitalize on Venture Capital investments and SMEs funding as well as investment on Insurance and Brokerage services.
MEET THE AMAZING TEAM
Don Chancellor - Founder & President (CEO)
Madeleine G. Winkler - Company Secretary
Dieter Frank Wipf - Business Development Director
Irina Yuhanyuk(M.Sc., Int‘l Economist) - Marketing Director
Gérald Tissière - Chief Technology Officer (CTO)
Alexander Papievis - Assistant CTO
Adedapo Ajayi - Assistant CTO
Christian Bogdan - Blockchain Developer
Usman Farooq - Graphic Designer
Panda O. Oku - Head of Operations
Claudius Lyn - Project Manager
Nur Ilham - Bounty Manager
Oksana Sokolovska - Assistant, Marketing Director
Sina Ickler - Coordinator, Languages & Translations
Vasil Pavlovich - Financial Advisor
Nesto Boccovi - Financial Advisor
Gregor Novak - Technological Advisor
Karl Hartmann - Technological Advisor
Barrister M.O Nlemedim - Attorney/Legal Advisor
Attorney PGDip LP Cal Evans - Legal Advisor
Barrister Kester Elebesunu - Legal Advisor
Barrister Kevin Koo - Legal Advisor
Barr. Vlad Andriushchenko - Legal Advisor
Dr. Sambhaji Kokitkar - AFRICUNIA Rep, India
Engr. Isaac Elusanmi - AFRICUNIA Rep, Lagos, Nigeria
Chima Ogoko - AFRICUNIA Rep, Abuja, Nigeria
Reggie Garcia - Sales Manager
For more information, please visit:
Website: https://africunia.com/
ANN Thread: https://bitcointalk.org/index.php?topic=2847593
Facebook: https://www.facebook.com/africunia/
Twitter: https://twitter.com/africunia/
Telegram : http://t.me/africunia
Author : Maniecool
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1692995
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