AFRICUNIA: Third Generation Blockchain Cryptocurrency System
AFRICUNIA is introducing an innovative banking model that allows the use of digital currency without hurdles, risks and technical barriers linked with owning, transferring, and trading in cryptocurrencies and tokens. Open exclusively for investment during ICO, AFRICUNIA is a third generation closed-end fund that uses the AFRICUNIA Blockchain Technology to create a bank-2-bank and peer-to-peer cryptocurrency called AFCASH.
AFRICUNIA is registered in the United Kingdom as AFRICUNIA LIMITED, providing Global Banking and Financial Services. The “CUNIA” in “AFRICUNIA’ comes from the Latin word “PERCUNIA” meaning “money” or “cash.” whereas “AFRI” is the abbreviated version of AFRICA. Therefore translated-AFRICUNIA means African Money or African Cash.
AFRICUNIA intends to bring investment globalization, transparency, and decentralization to the next level by leveraging the ubiquitous Blockchain Technology. AFRICUNIA offers a vision for the new standard of tokenized investment platforms that will help to bridge the gap between the fiat and the crypto universes. At its core, AFRICUNIA will focus on all aspects of tokenized investment vehicles ranging from technology and infrastructure to legal compliance and the corporate structuring.
In a nutshell, here is how AFRICUNIA intends to revolutionize aspects of tokenized investments:
- Providing instant, low-cost international payments by allowing conventional banks adopt the proposed Blockchain Technology just like SWIFT BIC.
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Assisting financial institutions to transfer money to international banks in real-time across diverse multi-layer networks.
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Ensuring a technology that complies with regulatory and security requirements.
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Implementing Digital Pass Technology that will serve as automation and digitalization system which integrates several industries to access financial and industrial services at a click.
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Developing the first Crypto-based POS (Point of Sale) System
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Developing a cost effective, seamless and easy to mine non browser-based and browser-based coin mining for simplicity.
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Projecting and enabling Internet of Value across global e-commerce
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Developing a Hybrid Technology that combines two systems in one, that is Proof-of-Work (POW) and Proof-of-Stake (POS) with proven high speed performance and intensified/elevated security
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Developing SECURE WALLETS Systems (Offline Wallets, Onlin Wallets, Ultra Thin Smart Wallets) with high security and safe storage.
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It’s very essential to emphasize that our Blockchain Technology is a multisystem Blockchain that combines bank to bank paper money transfer like the current SWIFT/BIC system but instant, peer-2-peer cryptocurrency transfer, Fiat/Forex/Coin Trading/Exchange/Lending MarketPlace, Smart Contracts, Open APIs, Artificial Intelligence (AI), Crypto-based Point of Sale (PoS), Digital Pass Technology ALL IN ONE PLACE.
Furthermore, AFRICUNIA BLOCKCHAIN TECHNOLOGY will give users the choice to choose to mine AFCASH in any modern web browser and or none web browser (hardware) in a hybrid combination of Proof of Work + Proof of Stake algorithm. We think this sums up the massive “machine” we are developing.
HOW AFCASH WILL WORK
The AFCASH platform will incorporate the following components::
- APIs: AFRICUNIA has already been legally registered in the United Kingdom and authorized by UK Companies House to provide bank and banking related financial services. It will also seek for licenses for her own APIs to promote the confidence of users in using the
platform. It will also seek to join the SWIFT network to allow the Virtual Bank receive a Business Identifier Code (BIC) for communication with other financial institutions using SWIFT messages for EFTs.
- EMIs: AFRICUNIA will apply for EMI (Electronic Money Institutions) license to give permission to start issuing electronic money. After being granted the license, Africunia will implement the currency exchange services that will allow corporate client keep a variety of money in their bank accounts and exchange them as the need arises. Being the heart of online financial transactions, it is therefore expected to collect valuable insights into consumer’s behavioural patterns and their financial risks profile to offer loans. This loan is expected to be extended largely to finance purchases from the online merchants that we will be working with. This will drive the value of the Africunia membership of Digital Pass Ecosystem by enhancing the sales for merchants and providing differentiated services for clients.
- Commercial Bank: The second full phase of this project sees Africunia evolving into a fully regulated bank. Besides the classical banking services, Africunia will provide Banking as a Service (BaaS) that will augment the existing gaps between the cryptocurrencies and fiat currencies. Before the deployment of APIs, Africunia will apply for a license from two card schemes: Visa and MasterCard. If all goes well, no BIN sponsors will be required during the process of card issuing and simplifying the card payment processing.
- Digital Pass Technology: For any banking institution to augment the existing technologies and digitize its operations, a solid core infrastructure is required. At Africunia, they intend to implement a digital pass as a standalone system that standardizes system-system communication while ensuring trust and integrity of bank records.
In particular, the digital pass will be implemented along the lines of facilitating users and businesses get access to and to keep theirencrypted personal and corporate data in the Blockchain. The data stored on the Blockchain can later be used in an open, secure, and non-discriminatory manner to drive the scope of AFRICUNIA BANK and other ecosystems in strict compliance with the banking regulations.
You can participate in the airdrop by following this link, ensure you complied with all requirements.
This airdrop will be available for participation from 26th December 2018 until 31st January 2019
You can access the Whitepaper here or visit the website for detailed information via this link