BY SIMIYU SIMIYU | TWITTER: @wakajuaness
As the world of cryptoctocurrency apparently takes root in various continents, Africa seems determined not to remain behind with Nuruchain now launching it’s coin, Nurucoin, at the end of this January 2018.
Nurucoin is a peer-to-peer Internet currency that enables instant close-to-zero payment costs to anyone in the world, courtesy of the product’s official twitter handle @nurucoin_crypto.
According to Nurucoin Founder and CEO Mr Isaac Muthui, Africa has played victim of unstable currencies that have actually affected most of her economies.
Nuruchain CEO Mr Isaac Muthui (right) during a recent tv interview with CNBC Africa. PHOTO/Courtesy
“You take for example one hundred Kenyan shilling which is equivalent to a single US dollar, then cross with it to Uganda, DRC Congo and end up in Nigeria. Chances are that you may end up remaining with nothing in your pocket due to varying weight of dollar equivalent against the various African currencies,” Mr Muthui was quoted by https://medium.com, an online publication.
“But the US dollar retains the same value whether you move to Europe, Asia or Africa.”
In an interview with Wakajuaness.Com, Mr Isaac Muthui explains to this writer that the Nurucoin seeks to solve all these challenges especially in Africa.
“This is where the Nurucoin comes in. Africa will now trade freely with everyone of their choice across all borders.” Muthui told this writer.
Several companies, supermarkets and financial institutions have already expressed interest in embracing this block chain and smart contact technology.
With the launch of Nurucoin, which is a brain child of an African in Isaac Muthui and his team, this is definitely the next big thing on the continent.
Money has transformed immensely over the past couple of years, from hard cash, to plastic money and now cryptocurrency. Kenya has also come of age, and #Nurucoin will be the first pan-African cryptocurrency. @nurucoin_crypto
— Kevin Otieno (@kdotieno) December 28, 2017
“It’s not about Kenya, it will cut across the whole continent and beyond. Other continents have their own currencies that are already in existence such as USD and EURO.” Said Muthui.
With its Initial Coin Offer (ICO) set to be launched on January 30th 2018, the initial 100 million tokens are up for sale at a convervative price of $.10 with various discounts available during the pre-sale.
— Nurucoin Cryptocurrency (@nurucoin_crypto) January 12, 2018
The token will be tied to the value of the US dollar at the initial stage, although the actual market value will be determined once it gets listed at the exchange markets.
As a way of rewarding and giving incentives to its customers, the chain will be rewarding clients of the merchandise 0.5% of the transaction value paid via Nurucoin payment system using Nurucoin tokens loyalty pool.
This is expected to attract more clients to sign up for this prestigious product.