Bitcoin Forum

OUR SPECIFICATIONS:


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First African Coin (FACC) is a new cryptocurrency with the goal of changing the financial landscape of Africa and the world. Our team of eight people has studied the world of cryptocurrencies since the very beginning and believe that alternative coins like First African Coin can help change the way the financial systems of sovereign nations operate. We aim to create a coin that doesn't profit off the backs of miners and traders. Instead, we've studied the entire continent of Africa in relation to how cryptocurrencies can make a difference and we see that altcoins have no boundaries or limitations when they are accessible to everybody. Unlike fiat currencies that are controlled by governments and financial institutions that can hold the majority of the available cash and have very little incentive to release that currency for use by ordinary people unless they can charge interest, fees and taxes, we understand that cryptocurrencies are useless unless they can be spent by citizens. In this way, we can prove to wealthy individuals, along with large businesses and financial institutions, that cryptocurrencies are worth having.

First African Coin is not just a pump and dump coin that traders will have to worry about in terms of value. We are here to stay as long as cryptocurrency exists. While many coin developers might be after anonymity on the exchanges, fast transaction confirmations and being anonymous enough to fade without consequences when their coin inevitably tanks, we recognize that such things should be a secondary goal. The FACC team has been working on this since December 2012 to bring ideas and research together and make First African Coin more than just another altcoin that clones somebody else's work.  Our primary goal is to make FACC so widely accepted that its value will become nearly as stable as the U.S. Dollar in the long run. This will help prevent the inevitable drop of most coins after the first week or two of excitement over a new release that turns out to be just another disappointing altcoin that drops to the bottom and never rises due to lack of widespread acceptance by merchants and ecommerce sites. FirstAfricanCoin is designed to endure the rises and falls in the cryptocurrency markets because we have policies in place to grow FACC from the very beginning. We may have a rough start, but we can overcome it with help from investors, miners and traders who understand that Rome wasn't built in a day.
First Africa Coin is a result of visibility studies in African countries. Our studies indicate that only 9.5% of Africans were aware of the existence of virtual currencies and 3.6% were aware of Bitcoin in particular. This is a classic case of information being power. The governments, as well as the financial institutions who rely on the government-backed strength of fiat currencies, have discouraged the spread of information about cryptocurrencies in Africa. With a team that knows about going mainstream, your support will help boost awareness of both First African Coin and cryptocurrencies in general. Our team comes from the North, South, East and West of Africa to create an international currency that can cover the four cardinal compass points of our continent. Our goal is to use the unique nature of cryptocurrency to create a true cash-free policy by educating individuals, business firms, and financial institutions about virtual currency's unique strengths that can make it a force for commerce, especially international trade.

Our blueprint for the spread of First African Coin includes a unique purpose for our new cryptocurrency. Our goal is to enhance Africa's wealth by opening doors for businesses created by ordinary people who might have been turned away by major financial institutions. Our business model aims for worldwide involvement in investing in Africa's development and encouraging greater imports and exports by eliminating the high overhead of dealing with the exchange rates of international fiat currencies and fees involved with dealing with international financial institutions. The wealth of Africa already exists in the form of untapped natural resources such as crude oil, diamonds, tin, platinum, rubber, limestone and ore. First African Coin can become the cryptocurrency of choice when investing and trading in these raw materials, which in turn will create more opportunities for ordinary people who wish to become involved in the economic development of Africa.


First African Coin will benefit investors, traders and miners by becoming the first cryptocurrency to become widely accepted in Africa. While doing our research, our team realized that no one else is interested in creating a cryptocurrency with the purpose of bootstrapping economic development and individual opportunity on our continent.
To encourage widespread adoption, we will start on the individual and small business level to help people who are not wealthy see how cryptocurrencies can help them develop opportunities to grow and prosper. Our marketplace will help local vendors, artisans and businesses who are ready to sell their wares on the international market to reach a wider audience, while at the same time making FACC the currency of choice for African businesses and foreign investors who want to cut through a lot of the red tape involved with foreign exchanges. Widespread adoption on the local level can help us move up to gaining the attention of governments, large businesses and the finance sector. FACC plans for true bottom-up growth that will demonstrate the power of cryptocurrencies to strengthen the economy of an entire continent.

First African Coin will provide many benefits for investors by providing easier access to resources from Africa that you could hold in your hand. Africa has many rich stores of coal, petroleum, natural gas, uranium, radium, low-cost thorium, iron ores, chromium, cobalt, copper, lead, zinc, tin, bauxite, titanium, antimony, gold, platinum, tantalum, germanium, lithium, phosphates, and diamonds, all of which have been waiting for investors to back African businesses that could extract these resources if only they could develop the infrastructure. These natural resources become our secret weapon for growing FACC with the same solid minerals that once provided the strength behind fiat currencies. Our plan for growing First African Coin includes using the money we raise through our Initial Public Offering to educate the public about the ways that a cryptocurrency can facilitate international trade and investment. This will create a currency that has value in real life and we will regularly post pictures and video so that you can see the very real impact that FACC will have. This impact will have nothing to do with somebody sitting behind a computer waiting to scam you and everything to do with developing both African infrastructure such as telecommunications that can connect potential African entrepreneurs with FACC holders and provide very real economic opportunities that Africans might have previously had no access to.



    




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