Marrakech, Morocco – African token Zynecoin has announced their official website launch in English, French and Japanese to cater to their followers who are native speakers of these languages.
To enhance Africa’s economic stature globally, the Zynecoin cryptocurrency is designed to support African innovators and entrepreneur ecosystems, including humanitarian initiatives to benefit Africa. The token itself has a built-in fee-split mining auto-allocation, which ensures that a percentage of the mining rewards goes straight to state treasury funds and NGOs (non-governmental organizations).
Chief Visionary Officer of Zynecoin, Karim Benabdelkader, stated, “Africa was the birthplace of humanity and we want to return to Mother Africa, our source of sustenance.”
“If Africa is reborn, the rest of humanity also carries the hope of rebirth. We have created Zynecoin with the sole purpose of promoting and elevating African projects and innovations,” Benabdelkader added.
A Centralized System Lacking Transparency and Hindering Growth
With the Official Website, the main focus of Zynecoin is to solve the serious obstacles facing the African market. Despite being a rich and bountiful continent with huge potential, Africa’s potential is likely to remain untapped if prevailing conditions remain unchanged.
Centralized monetary systems in Africa have resulted in a serious lack of funding for startups. There is also a high risk perception associated with lending to and investing in African entrepreneurs. The continent’s large informal economy has also led to widespread tax evasions. These factors have strongly affected investor interest and led to a general aversion to funding African startups. Innovative entrepreneurs struggle amidst such challenging conditions.
Zynecoin Solution: A Three-Pronged Approach
The Zynecoin solution uses a three-pronged approach. Zynecoin, together with its blockchain protocol WETHIO and its incubator, the Zynecoin Academy, will all work hand-in-hand with the common objectives of supporting economic development, driving technological innovation and improving Africa’s market standing throughout the continent.
Cryptocurrencies overcome borders and that is how Zynecoin can reach out to global investors. Its innovative model also increases transparency, security and facilitates smoother cross-border transactions. Furthermore, Zynecoin is powered on its own Blockchain WETHIO in a decentralized ecosystem.
‘Wethio’ in Wolof means ‘exchange’ and the African blockchain has been aptly named, being a protocol that is accessible globally. Incentivizing collaborative mining as opposed to competitive mining, WETHIO hopes to encourage widespread adoption amongst miners all over.
Focusing on establishing trust and privacy, the platform automatically opts out business malpractices by using smart contracts. It also provides a secure place for users to build d’Apps (decentralized apps) which can reach millions in the continent and beyond. All this comes with the benefit of a common, trusted token, the Zynecoin. The Zynecoin wallet conducts transactions in a secure, efficient and transparent manner.
Finally, the third prong in this modus operandi is the Zynecoin Academy, an incubator that supports promising startups. The academy helps projects and d’Apps to launch and works on increasing their opportunities to succeed and to scale globally.
A Promising Start
The good news is that Zynecoin is already off to a promising start, having signed a partnership agreement on 24th February 2020 with the Ministere de l’Energie du Burkina Faso to construct a solar power plant in Burkina Faso, West Africa. The 3 MW (megawatt) station will be capacitated to supply energy to over 1,500 homes.
Zynecoin has also signed an agreement with Ouagadougou start-up incubator KEOLID where startup projects will build assets on top of Blockchain WETHIO to raise funding for project development. Currently, KEOLID offers support to seventy projects that are led by young African entrepreneurs in areas with high development potential. Zynecoin Academy provides seed funding for African projects that are building on the WETHIO protocol.
Zynecoin has organized ‘Operation COVID-19 SOS’ in line with its humanitarian objectives. This initiative saw the organization distribute 1.5 tonnes of food per week over eight weeks in Morocco to aid families with financial difficulties during the COVID-19 pandemic. An allocation of 70,000 ZYN was made for this CSR initiative which financed the distribution of 400 packages consisting of 30 kg of 100% organic, basic-necessity foods including fruits and vegetables.
Zynecoin continues to work towards unleashing the enormous potential of the African continent. Implementing its revolutionary and innovative solutions has managed to attract investor interest for the token. Presently, Zynecoin is listed on two established exchanges: Bibox, where the mainnet token swap from ERC-20 to Blockchain WETHIO took place; and PROBIT, a recent listing.
Zynecoin Official Channels
Official Website: https://zynecoin.io/
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