From the Digifinex blog.
# About AFRO
Kiana: Can you briefly introduce your background and describe AFRO in a few sentences?
David: I was born on June 9, 1970 in Paris, I graduated from Sceaux Law School, with a specialization in computer criminal law. After that, I became a French entrepreneur specialized in cryptography. Also, the author of two books about computer warfare. I participated in various parlement missions before creating a patent that became the first application using cryptography and electronic signature for the French public.
I have decided to create the First ever panafrican digital currency: the Afro with economists, lawyers and reference personalities of Africa in 2016.
Followed by the philosophical and artistic movement which was born in Berlin, 2001, the blockchain of Afro was created. And it is listed on Digifinex now!
Kiana: Can you please give an overview on what the unique features and strengths of AFRO are?
David: Sure. First of all, AFRO has some very distinctive features that make it totally unique. Reasons are as below:
1. AFRO is a currency with a cause: the panafricanism. The African continent has been struggling with 40 different currencies among 54 states, most of them are drastically devaluating. Therefore in some countries,the local currency isn’t recognized as a medium of payment. Still, the Afro will not be a disruptive alternative to it .
2. AFRO is not disruptive but friendly to local authorities and tax authorities as given the unique and innovative Tobin Tax option programmed in the code.
The Tobin tax was invented by the American economist James Tobin who calculated that if collecting around 0.01% and 0.2% of every financial transaction and redistributing to governments then there would be no necessity for collecting tax among the people.
In line with this invention, AFRO has the ability to distribute 100% of the transaction fees to the states of Africa.
3. The blockchain of AFRO is not as a currency but also as a register of proof used by postal authorities for delivering registered letters with certified delivery. This patent of the AFRO gave our foundation Afro a unique position to serve the development of e-government and digital government applications.
This is a unique figure that the AFRO offers 20 years of experience of the team in the field of electronic signature and electronic evidence.
Agreement has already been signed and enforced in Cote d’Ivoire with the postal authority and will be extended in 4 west African countries.
Kiana: What problem are AFRO trying to solve? How does AFRO address the problems of the African continent?
David: The AFRO Foundation is above all a philanthropy addressing health and well being in the African continent, includes:
- Before the pandemics, Afro was already used for water potabilisation machines in Cote d’Ivoire and Kenya.
- During the pandemics, the Afro foundation created European certified washable face masks that were sent in Sierra Leone and provided yearly protection.
- A partner of the AFRO is providing tracking of real medication through the blockchain in order to avoid poisoning of fake and counterfeit medication.
It is compliant central banks and financial authorities:
- AFRO is the ONLY currency who performed a full 100% compliance of every holder while performing the swap on the Binance Smart Chain
- AFRO is the most compliant digital asset because every holder had to show a proof of address and proof of iD before having his Afro swapped to the new blockchain and listed on Digifinex.
- AFRO is the only currency offering the possibility to send 100% of the transaction fees to the treasury of friendly governments.
AFRO is the currency recommended by entrepreneurs of the African continent.
- AFRO signed a partnership with Talenteum the « LinkedIn » of african entrepreneur providing the youth entrepreneurship with a currency originated by the african continent and rewarding african talents.
- AFRO is panafrican and solves inclusion in the continent where huge commissions must be paid in parallèle markets to change devaluations currencies into heavy fiat currencies (aka USD) with a 30% change fee.
Kiana: What is the characteristic of AFRO compared with the competitors?
David: The AFRO is panafrican currency meaning that it is aiming to be the alternative currency for all 54 states of the continent. We aim to be for Africa what Euro became for Europa: a common currency that unites everyone in the Continent.
Kiana: What are some significant milestones which AFRO has achieved? What is the future roadmap for AFRO?
David: There are a lot of significant milestones that we have achieved already! Examples are as below:
- On the road of adoption the Afro already signed an agreement with Cote d’Ivoire Postal authority and aiming to be adopted in 4 countries of west Africa.
- AFRO was adopted for educational program of Foundation E5T « Les institutrices du climat » an educational program providing to the students knowledge regarding ecological transition and rewarding their achievements and displomas with a CETE « saving account in Afro for ecological transition »
- International organizations are considering the adoption of the Afro for reserve funds when accepting a load for a country. The international organizations enjoy having a tracking of how the loan is used. For this reason the blockchain of the Afro is a means of control for allocated funds to be used for what they are aimed at.
- The ambassador of AFRO is currently meeting a delegation of two African countries to discuss the alternative usage of the Afro as an alternate currency.
- Strong partners in Portuguese speaking countries of Africa are representing a significant part of online payment systems.
- We are in direct contact with the President of Madeira who declared bitcoins and crypto legal and welcome in this European regulated country geographically located in Africa
- Director of strategy of the AFRO is meeting a member of central Africa government who just passed a law securing crypto as a legal tender in this country.
Kiana: I have a personal question, which is also the tradition of DigiFinex AMA. Can you share with us your personal investment experience in crypto assets?
David: I started mining Ethereum, Bitcoin and Zcash in 2017
I bought my first bitcoin at the price of $400.
Investment in cryptocurrency saved my family while the pump of the bitcoin allowed me to survive economic dramas affecting my family such as relocating to another country as journalist and reporter activity was forbidden in the country we were settled in as well as trading crypto.
# Live Activity Rewards
Kiana: Thank you David once again for joining the session today. We will now send out the 2nd Red Packet before we round up the Live session.
This marks the end of our Live session! Thank you all for participating and I hope to see you in the next AMA Live, don’t forget to complete your KYC procedure as soon as possible, have a good day!
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This article came directly from the Digifinex blog, found on https://blog.digifinex.com/2022/05/18/digifinex-ama-recap-afro-the-cryptocurrency-economy-and-social-development-in-africa/