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Baracoin is Developing a Mutually Beneficial, Cashless Economy to Promote Trade, Travel and Development in Africa

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baracoin

What was the original purpose of bitcoin? To develop a digital currency, not controlled by a corrupt government or organisation and which could be used in regular transactions. To this end, bitcoin has largely failed. The development of bitcoin is controlled by a handful of powerful mining groups who disagree amongst themselves over the future of bitcoin, leading to a number of forks of bitcoin in recent months, examples of which include Bitcoin Cash and Bitcoin Gold.

In addition, the massive demand for bitcoin has ground transaction times to a near standstill, sometimes taking hours to complete even small transactions along with charging fees in the tens of dollars. Combined with all this are the massive price fluctuations that bitcoin (and indeed other coins) face on a daily basis. These all make it difficult for bitcoin and the vast majority of Altcoins to serve as a daily currency. Indeed, bitcoin now serves primarily as an investment platform and store of value. Bitcoin has failed but the need for digital currency immune to whims of governments & profiteering financial institutions while delivering fast and convenient payments and transfers has not gone away. The entire cryptocurrency space remains a massive experimental hub, where new innovations and iterations of past currency models continue to incubate. Which one of these will prove to be the stable, secure and cheap currency that many desire?

An Irish company, Tribal Nexus Ltd, has developed a new cryptocurrency, Baracoin, which is seeking to be the answer to that question. Baracoin is planning to launch its service this year and is aiming to bring a stable digital currency, backed by an equal reserve of Euro, to several African nations, starting off in Southern and Eastern Africa. The company’s decision to focus on Africa is unsurprising, considering that this is a region which has suffered from profiteering of financial institutions, with high costs for basic financial services – including the continent’s large remittances bill (Valued at over $40 Billion annually), along with socio-political issues which have led to unstable local currencies, and cash shortages in some of the countries. This is without taking into account the large swathes of the population not served by traditional financial services institutions, due to challenges like access (e.g. Banks tend not to set up in rural areas) and restrictive Customer Due Diligence policies.

Thus, Africa is not only ripe for expansion of cashless economy, with Sub-Saharan Africans six times more likely to only use a mobile payment account than the rest of the world, but the potential benefits of a service like Baracoin’s can be revolutionary for the continent, with similar though more expensive services being shown to have already raised 2% of local populations above World Bank definitions of poverty.

Furthermore, this is a continent growing faster than the rest of the world, with increasing levels of IT literacy, urbanization and growing, young middle-class populations.

Each Baracoin will be backed by a 1:1 reserve of Euros, facilitated by Company’s relation with Bank of Ireland, ensuring the price of the currency remains stable. Building on the foundations of the robust and proven Stellar Blockchain Platform, Baracoin will be supremely quick to transact, a matter of seconds in most cases. Transaction fees will also be minimal, at 0.25 – 0.75%, becoming even cheaper with additional offers and discounts.

Furthermore, spending Baracoin will earn customers Baratoken, a loyalty token which can be redeemed for offers and rewards with merchants on our network. Baratoken will also be useful for access to other services provided by the network, including low interest peer-to-peer lending and continental insurance.

The Baracoin team are already working on securing partnerships and on-boarding merchants and other stake holders onto their network, working towards their aim of building a sustainable, mutually beneficial network across the continent and ensure Baracoin users and Baratoken holders have access to goods and services they desire from day 1 of system launch.

The Baracoin team will also be conducting Community Development Projects in the areas it operates. These are projects will seek to train individuals for highly skilled work such as programming, build internet infrastructure and carry out educational workshops and healthcare clinics, aiming to meet local needs and utilise the Baracoin Team’s international networks and expertise.

Baracoin will be conducting a crowdsale in early Q2 of this year to fully fund this project, with Baratoken being sold at this crowdsale. Right now, the Baratoken pre-crowdsale is open.

You can visit https://www.baracoin.io/ for more information and to register your interest and participate.

 

*This is a sponsored post. Readers should do their own due diligence before taking any actions related to the promoted company, product or service. Bitcoin Africa Ltd. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in the sponsored post.*

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Making Cryptocurrency Easy to Use for Everyone

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Image by Tip Blockchain

Since the beginning cryptocurrencies have always been favored by the tech-savvy crowd. Even though buzzwords like “Bitcoin” and “blockchain” are often heard on the mainstream media these days, using cryptocurrencies remains a cumbersome process for most people. Wallet addresses are long and random cryptographic hashes. A small mistake in a single character would result in permanent loss of funds. Double/triple checking every address before every transaction has become common practice among cryptocurrency users. For businesses that accept cryptocurrencies, as wallet addresses are usually not directly linked to customer accounts, there is often no easy way to tell who made which payment until the customer presents payment proof separately. These are some of the main hurdles facing cryptocurrency mass adoption today.

Tip Blockchain is an ambitious startup working to make cryptocurrency easy to use for everyone including the average non-techie grandparents.

To achieve this, the TIP light wallet/chat app, Kasakasa features short usernames as smart addresses.  Typical usernames like @HanSolo12 or @BurgerShop78 will be used as wallet addresses, replacing long cryptographic hashes like 0x016b1eA9A2B62AADD771DeA418AbE84693877C09. Users are able to search and find other users and businesses by username, as well as adding contacts from their phone’s contact list. Sending transactions can be done directly in a chat conversation. The initial release of the Kasakasa light wallet/chat app is scheduled for August 2018. The TIP ecosystem will also include a cryptocurrency point of sale (POS) system for businesses. This POS system will incorporate convenient features from traditional fiat POS systems, such as order/customer management, sales analysis and reporting. The backbone of the TIP ecosystem will be the TIP Blockchain – a unique blockchain that allows users to store data on-chain, attached to accounts and transactions. It will automatically index the stored data making it easily available for future use.

Tip BlockchainTip Blockchain has a professional team of developers, entrepreneurs, and business people. Their expanding advisory board is stacked with advisors who have a proven track record of delivering successful blockchain startups and ICOs, and seasoned blockchain investors with in-depth industry knowledge and connections. They also have top lawyers in the cryptocurrency and business law fields on their board.

The project is currently hosting their Seed Round token sale with 200% bonus. The Seed Round started at 12:00 am UTC on June 1, 2018, and will end at 11:59 pm UTC on June 15, 2018. TIP tokens are priced in ETH, with ETH being the only accepted payment method during the token sale. Tokens are valued at 1 ETH = 10,000 TIP, or 1 TIP = 0.0001 ETH. However, the current seed round offers a 200% bonus, allowing participants to purchase TIP tokens at 1 ETH = 30,000 TIP. Only 4% of the total TIP token supply is available for purchase during the current seed round.

Website: https://tipblockchain.io/

Seed Round Signup: https://tokensale.tipblockchain.io

Telegram: https://t.me/TipBlockchain

LinkedIn: https://www.linkedin.com/company/tip-blockchain-network

Twitter: https://twitter.com/TipBlockchain

Medium: https://medium.com/tipblockchain

Facebook: https://www.facebook.com/tipnetworkio/

 

*This is a sponsored post. Readers should do their own due diligence before taking any actions related to the promoted company, product or service. Bitcoin Africa Ltd. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post.*

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Waves of Change in Digital Rewards

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Waves African Exchange

Waves African Exchange (WAXEX), a digital start-up based in Cape Town, provides the ultimate solution for business reward and loyalty programs using blockchain technology. Using blockchain as a base technology, they provide low-cost Mobile & Web payment solutions, without any additional infrastructure requirements. This, including the global reach with Trackable/Immutable and Secure transactions, are just some of the highlights of the low-entry reward services on offer.

To add to the pot, they’ve included the ability to distribute your own custom rewards tokens to WAXEX token holders at no extra cost. Consumers can now get access to an effective reward and loyalty program and enhanced mobile marketing strategies without the astronomical entry barrier, all backed by blockchain transparency.

Not to be outdone by international counterparts, WAXEX also allows the sending of promotional voucher tokens to a targeted audience. Specify existing or new customers for a targeted campaign. All of this is possible by using Waves Platforms integrated Airdrop services. This functionality has been incorporated to place local small businesses on an even footing with their international counterparts in terms of marketing strategies.

WAXEX business packages range from Basic, Standard or Customized Airdrop solutions. Businesses can also become a Featured Rewards partner and make use of their affiliate partners web development services, all easily customizable to suite.

Latest rewards partner, Real Food Factory, is integrating Incentive rewards and mobile token payments into their online store allowing easy online payments and retail purchases via QR codes.

So what innovation can clients look forward to from the Real Food Factory with their on-boarding? Incentive rewards for people with ‘RealFood Waves tokens’ include access to secret recipes, food hamper giveaways and other special discount offerings on purchases.

You can incorporate blockchain rewards and payments without any hardware requirements for your business or additional monthly costs or hefty transaction service fees.

Everything is safe and secure on the Waves Platform blockchain and payments are near instant, making use of the worlds fastest blockchain.”

It has always been a matter of time before local companies wanted in on the benefits of blockchain as a technology. Not just in relation to fast and auditable payments but also to enhance their service offering, value adds and of course bring new technology to their businesses.

The WAXEX and Real Food Factory synergy is just the first of many innovations to hit the local market but rest-assured that many others will follow in their footsteps in due course.

 

*This is a sponsored post. Readers should do their own due diligence before taking any actions related to the promoted company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in the sponsored post.*

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Naviaddress Announces Strategic Partnership with The Crypto Capital Group

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Naviaddress

Naviaddress, the first global digital addressing system being deployed onto the blockchain, which provides users with naviaddresses as unified digital IDs for any places or objects in physical and virtual worlds, announced strategic partnership with The Crypto Capital Group (CCG) – an expert team of private equity professionals from the U.S., Europe and Asia, whom have also been early investors in projects such as WaBi, Qlink, APEX, Matrix, and several other projects.

Dmitri Moiseev, CEO of Naviaddress, made a statement: “After many successful events, where NaviAddress was voted #1 on different occasions – we have seen a huge influx of private investors approaching us. For Naviaddress team it is important to select our strategic partners with care and think of the long-term successful development of the project. We feel confident that The Crypto Capital Group will be able to help us on several fronts including the ICO stage, partnerships, networking and more”.

As of January 2018, there are 1.5 million naviaddresses in Naviaddress system, including 1.3 million in the business category; the number of registered active Naviaddress app users exceeded 60 000 people. Naviaddress addressing system can be used via web or mobile applications (iOS and Android). Naviaddress integrated its addressing system with UBER in 2016. In 2017 we signed the Strategic Partnership Agreement with Booking.com. As the result, the Naviaddress team created 1.3 MM standard and 1,327 ‘premium’ (1 – 5 digits) naviaddresses for hotels and properties, aggregated by Booking.com. In December 2017 Naviaddress signed LOI with DPD and the pilot integration project was launched in the beginning of February 2018. Alfa version of the platform on the blockchain is up and being tested now.

Once the addressing system is deployed on the blockchain, Naviaddress will enable 4 billion people in the world living without addresses to obtain and share digital postal delivery naviaddresses, verified by a transaction on the blockchain at almost no cost. Usage of naviaddresses will enable local governments to provide more citizens with essential services and create new markets for e-retailers and delivery businesses (AliBaba, Amazon, etc.).

More about Naviaddress

NaviaddressNaviaddress falls into the category of blockchain ID management systems that will simplify the way transactions are conducted with online retailers, delivery and other businesses as well as with each other – without compromising privacy or security. Today, 20% and up to 80% of addresses in developed and developing countries respectively are not verified from the first time due to mistakes in address spelling, address verification and “last mile” navigation problems. Naviaddress makes it possible to provide accurate locations for e-retail and delivery services.

Naviaddress disrupts the traditional addressing system by giving users a convenient and fast way to replace their impractical and lengthy physical postal address with a naviaddress, which is a short, easy-to-memorize and communicate sequence of digits. It may also be able to function as “a smart address” because users can assign and store relevant information such as “last mile” navigation (embedded geographical coordinates, physical address, hours of operation, route description, photos and other relevant information), which makes it also easier to find complicated, remote locations or newly built structures.

International tourists and expats remained inaccessible for local hotels, cafes, and restaurants. This result in lost sales. Naviaddress will provide authentication and easy last mile navigation for local HoReCa and retail outlets due to only digits, no language-specific, digital address, which is easy to find, share and communicate.

Naviaddress co-founders Mikhail Gamzin and Dmitri Moiseev have vast experience in entrepreneurship, venture financing, technological innovations and product development. Together they have built and sold businesses for a cumulative value of 240 million USD. The top members of the team have 15+ years of management and business experience in technology b2b and b2c businesses in such industries as IT, telecommunications, clean tech, smartphones, VC investment management.

The project raised 2,5 million US dollars funding from private investors in 2015 – 2016. Naviaddress team is committed to raising 20 million USD in Q1 2018 through ICO for funding of address platform migration to blockchain and further global rollout. The ICO is scheduled for March 1, 03:00 pm CET. As of today, the project sold 186 MM NVTs during pre-ICO stage or ca. 47% out of all 400M NVTs allocated for ICO contributors.

Find out more www.naviaddress.io. Join Naviaddress community in Telegram (https://t.me/Naviaddress) today!

 

*This is a sponsored post. Readers should do their own due diligence before taking any actions related to the promoted company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in the sponsored post.*

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