Ubuntu coin (U-coin) is another African cryptocurrency. Ubuntu is originally a concept used in southern Africa. The term refers to a way of being together, to think in a group taking into account that everyone enjoys the benefits it gives to others. A form of collective morality, therefore, and an art of living.
It’s a fever is winning the planet. At the time where Facebook develops a discreet reflection on the subject of cryptocurrencies, a project for a virtual currency is emerging in Africa with ethical ambitions. If the launch of the first units – the Initial corner Offering (ICO) original of the virtual currency offer – goes as planned in June, it will soon be possible to pay purchases in ubuntu-corners (ucoins), or transfer funds between the countries of the continent Africa and its diaspora. But with some specifics.
U-coin is asset backed with so many institutional investors. Ubuntu coin is the first cryptocurrency in the world to transact and record both financial and non-financial value of the global-afro descendant community on a blockchain.
The Name Ubuntu coin came spontaneously to Mamadou Touré Kwidjim when this began to think about the creation of a virtual currency especially intended for the “Afro-descendants”, referring to the black diaspora, as well as the whole of Africa. Launched in Abidjan (Côte d’Ivoire), the ucoin wants to convince the black population of the planet that it is possible to find a common currency for certain operations, a ‘value black’ (‘black value’, in the financial sense as in a moral sense). And that by doing so, it will provide benefits for Africa. As the equivalent of the bitcoin (the first and the most famous of the cryptocurrencies) in its African version is beyond the scope of equivalent systems that already exist. This time it is to give birth to “a corner [currency] ethics that allows then to make investments”, explains Touré.
50 to 100 million dollars in u-coin
Cameroon telecommunications and infrastructure specialist, spent by the International Finance Corporation (IFC) and General Electric (GE), Mamadou Touré Kwidjim hope to see his adopted ucoin “from Detroit to Dar Salaam.” Like all virtual currencies (there are hundreds), the ucoin entered, during its discussions, the system of channels of blocks, or blockchains. In essence, a giant and digital account book, decentralized on hundreds of servers, which brings together in blocks of encrypted information data exchanges. The multiplication of information makes it impossible to falsify. And they are accessible to all.
U-Coin is the world’s first digital currency designed for the Afro-Descendant community . The ucoin promises to be ethical, to strengthen participatory economy, but also to promote a “revolution of governance.”
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