FXBarter Coin (FXBC) Launch

The Remittance Cryptocurrency for Non-convertible (NDF) Fiat Currencies

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WEBSITE | TWITTER | INSTAGRAM | FACEBOOK | WHITEPAPER
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Introduction
Across the world, an increasing number of people have been considering and using cryptocurrency for exchange, payment, transfer, and so on. The cryptocurrency market is boundless with a lot of possibilities. The introduction of cryptocurrency globally is an exciting transition into a great future where payments and money management will be faster, safer, easier, and cheaper.
Towards the attainment of this great future, FXBarter has created the FXBarter coin (FXBC). FXBarter is a P2P platform designed for fiat currency exchange, allowing individuals to exchange restricted or non-deliverable local fiat currencies for major foreign fiat currencies without cross-border transfer of the currencies and the associated high cost.
In extension of the benefits of the FXBarter platform, FXBC has been created for non-deliverable fiat currencies so that people can now easily acquire and hold FXBC using local fiat currencies. FXBC can then be converted to major foreign fiat currencies (such as EUR, GBP, USD etc.) as well as used to perform electronic transfers or cash withdrawals from any part of the world.
With the introduction of FXBC, FXBarter is offering transparency and convenience as well as the opportunity for the use of cryptocurrency to become a steady part of everyday life. This is especially impactful in sub-Saharan Africa and southern Asia with vibrant young populations, large diaspora populations as well as the world’s largest contributors of new internet service and financial services consumers now and in the coming years. In this whitepaper, you will become familiar with the components and use cases of the FXBarter platform and FXBC.

The Remittance Market
The remittance market today, worth over $500 billion, is still plagued with critical bottlenecks such as high fees, insufficient transparency, and increase in settlement time, which threatens to make it more difficult for many to send and receive money. Banks are responsible for major remittances in the world, but there are three dominant operators in the non-bank sector: MoneyGram, Ria and Western Union. Combined, they operate about 1.1 million retail locations in 200 countries. However there are other players in the industry like: Currencyfair, xe, world remit, transferwise etc. FXBarter plans to decentralize remittance processes by offering the cheapest fees, transparency and instant access.
Transferring money across international borders is still expensive, time-consuming and even dangerous. Specifically, existing money transfer systems available in emerging markets suffer from high transaction costs, long delays, counterparty risks and 20th century bureaucracy. An estimated two billion people in these markets are underbanked with limited or no access to financial services. Providing relevant products to this population is a key step towards reducing poverty and establishing sustainable, wealth-creating local economies.

The Target Market
In Africa there exist a number of exchanges and start-ups in the crypto space, and a few are leveraging cryptocurrency usage for cross-border trade and payments. The activities suggest good timing for serious players to come in, while the infrastructure for local take-off of digital assets is solid and robust. This is due to the liberalisation of telecommunication across the continent that has grown internet accessibility - with about 50% of the African population now having mobile phones, according to GSMA. This is complemented by the fact that for the past two years smartphone usage in the continent has doubled to reach an impressive 226 million subscribers.
The financial services industry is also positively accommodating old and new players, who are contributing to transaction volumes of over $100 billion within the payments and remittance space. Some of the banks are now lobbying for rights to trade cryptocurrencies, though most of the region’s central banks are keeping the banks focused on traditional fiat-based services.
A number of start-ups are also showing promise in offering token services such as those focusing on property title registrations, digital certificates for licenses & permits, digital identity, financial instruments such as bank guarantees, solar power tokens, etc. African governments and institutions are gradually beginning to understand and appreciate cryptocurrency as a transformational replacement for traditional financial transaction systems. Africa’s chance to leapfrog over regular financial services thus improves. This will position the economies of Africa for the future of digital finance and perhaps make cryptocurrency a timely, even if surprising, development.
Now that conditions on the continent are conducive for growth in the adoption of cryptocurrencies, some players within African economies are relying on crypto-currencies to combat hyper-inflation which has been experienced in countries like Zimbabwe, South Sudan, and Nigeria. FXBarter aims to position itself as a platform redesigning modes of financial service delivery. FXBarter will create value for users by providing a number of financial inclusion services such as remittances, payments, aid disbursement, store-of-value and credit.

Introducing FXBarter coin (FXBC)
FXBC has been created by FXBarter as a cryptocurrency for non-deliverable fiat currencies. It is convertible to restricted non-convertible fiat currency across developing countries as well as to major fiat currencies such as USD, GBP and EUR, as well as major cryptocurrencies such as Bitcoin and Ethereum. The company FXBarter is a fintech start-up offering a P2P fiat currency exchange platform that allows users to exchange their restricted or non-deliverable local fiat currencies for major foreign fiat currencies without any issues of currency crossing borders or international transfers.
FXBarter introduced FXBC to facilitate seamless conversion for users with non-convertible currency that need to make payments in foreign currency. Holding FXBC means that you hold the equivalent of a given currency (although depending on the exchange rate of FXBC). With FXBC, you can make payments into your bank account in a wide range of fiat currencies. With time, we hope to partner with ecommerce stores and different service providers to make it possible for FXBC to become a payment instrument for goods and services.
With FXBC, users have the unique opportunity to purchase and store FXBC using their local fiat currencies, convert them to major foreign fiat currencies and perform electronic transfers or cash withdrawals across the world.
More specifically, FXBC can be used for the following:
•   Direct convertibility to non-deliverable fiat currencies for the benefit of the large and economically vibrant users that use these currencies
•   P2P exchange of non-deliverable fiat currencies and major fiat currencies without international transfers or currencies crossing borders
•   Savings and investment
•   Seamless payments anywhere in the world
•   Fungibility on most cryptocurrency exchanges and compatibility with most blockchains.
FXBC is a revolutionary cryptocurrency that would enable people remit funds to their home countries in a way that is easy, cost-effective, and transparent.

FXBC ICO
With a maximum of 300 million FXBC in existence, a total of 200 million FXBC will be sold during the ICO. The remaining 100m will be held back for the founder and shareholders of FXBarter Ltd and frozen for 6months post ICO sale.
You can acquire FXBC from our four tiers rolling out over a four-week period described below:
•   Week 1 - Tier 1 - $1 per FXBC or the local currency NGN360
•   Week 2 - Tier 2 - $1 per FXBC or the local currency NGN360
•   Week 3 - Tier 3 - $1 per FXBC or the local currency NGN360
•   Week 4 - Tier 4 - $1 per FXBC or the local currency NGN360

Token Allocation
The tokens generated will be allocated as follows:
•   30% for Development of Wallet, Mobile and Tablet App and the Blockchain Network to enable us expand our user access channels from the web-based platform to mobile (and tablet) apps, enable our
   users securely store their FXBC - all within our private blockchain network.

•   40% for marketing and PR to foster the growth and sustainability of the platform. We intend to grow the FXBarter platform and user community via interactive marketing targeted at diaspora communities
   in various countries in order to create awareness and catalyse acquisition and use of FXBC.

•   30% for bounty and airdrops to create visibility and awareness for the ICO, FXBC and the FXBarter platform.

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WEBSITE | TWITTER | INSTAGRAM | FACEBOOK | WHITEPAPER
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If you have any questions and suggestions about this project, feel free to reach us at:

email: support@fxbarter.com