The Republic of Abkhazia is creating crypto favourable jurisdiction and national cryptocurrency. MicroMoney can take part in realization of this project.
MicroMoney and the Ministry of Economics of Abkhazia are negotiating about collaboration in cryptoeconomics application of MicroMoney services and experience in the republic. The representatives of the government are confident that building of the robust digital economy with cryptocurrency, blockchain and IT cluster will provide new opportunities for attraction external investments, development of entrepreneurial initiatives and improvement of business climate. Abkhazian minister of economics Adgur Ardzinba has proved such ambitious plans during the conference “Blockchain: there is no back way” that took place in October in Moscow.
https://cdn-images-1.medium.com/max/800/1*pRYMsnKOE_HOmGypxVZy2Q.jpegThe fintech [Suspicious link removed]pany MicroMoney is currently the focus of attention. The company has recently terminated its own AMM token sale campaign. The campaign started on the 18 of October, 2017. The project has attracted about $10 million. MicroMoney has been successfully operating in 5 Asian countries for 2 years. The organization specializes in providing of loans on the emerging markets and development of a creditworthiness scoring system.
There are more than 2 billion of people worldwide who don’t have credit histories and are off the banking services. So, the MicroMoney’s mission is integration of such people into the world financial system. The process has been already launched in those countries where MicroMoney operates. These countries include Myanmar, Cambodia, Thailand, Indonesia and Sri Lanka. Perhaps, Abkhazia will join the list. Abkhazia is preparing to issue its own Abkhazian cryptocurrency –ARC — Abkhazian Republic Coin.
The Abkhazian cryptocurrency might appear till the end of the year and its extended penetration is going to start from the beginning of spring, 2018. In several years, Abkhazia might abolish fiat money, at least cryptocurrency will become the fully functional part of the country’s financial system. Hard Cap attracted through ICO in Abkhazia totals $1 billion that the republic is planning to get issuing its tokens along with some brave steps towards full legalization of cryptocurrency, cryptobusiness and creation of enabling environment for crypto startups. This sum of money is necessary for deployment of blockchain technology at all important levels of the socio-economical system of the country, moreover, for speed up of increase of energetic capacity for mining (there if one of the lowest process for electric energy in the world).
The announcement is unprecedented as such actions in regard to regulation of cryptocurrency and cryptobusiness have not been executed in any countries yet. So, such circumstances make Abkhazia being a country where it is safe to store crypto assets and launch crypto businesses.
Republic plans include not only ICO staging but also creation of all the infrastructure for development of the direction — educational programs, programs of technology and initiatives development, aggregation and acceleration of new projects. The platform solution is almost ready for staging of hundreds of mini ICO with Abkhazian Coin in the Republic into which crypto community can invest. This is a kind of quite complicated project where every step of a road map is unprecedented.
Advantages of such a market are obvious — people all over the world can invest in the economy of the country without any sanctions and other limitations. Blockchain, cryptocurrency and ICO cause strong emotions in many countries at the state level since the blockchain revolution is taking place in the whole world. To become a winner countries have to take risks and act as start ups. Figures are inarguable. According to estimations the World economic forum the projects based on blockchain will be able to provide up to 10 % of the world GDP in 2025 that totals $10 trillion.
MicroMoney can assist the Abkhazian Ministry of Economics in consulting as well as in practical cases helping to attract investments through ICO. Moreover, parties have already discussed opportunities of application of MicroMoney for the development of the Abkhazian banking system. Work is being continued. MicroMoney is quite experienced in this sphere and this experience can be useful not only for Abkhazia but for any other country.
