The digital age has been responsible for some of the biggest advances in technology, and one of those technological developments blockchain and its ensuing cryptocurrency is arguably the most impressive in terms of its future potential to liberate people. However, with South East Asia and North America stealing all the limelight in international cryptocurrency news, Africa has often been the “forgotten continent” when it comes to dedicated cryptocurrency innovations.
Zynecoin is a cryptocurrency developed in Marrakech, Morocco and backed by Ethereum. Zynecoin is poised to become the first cryptocurrency and blockchain based in the African continent. As Africa’s first crypto, we’re doing more than just breaking new ground. We’re creating an infrastructure that can genuinely support and fund innovative startups and projects with high social impact and global competitive potential.
The team behind Zynecoin aims to change all that with a new cryptocurrency which has a mission to support startups and entrepreneurs throughout Africa. Based in the cosmopolitan city of Marrakesh, Morocco, Zynecoin was born as a collaboration between three men: Mossaab Tazi, Jihad Ouazzani, and Youssef Darim.
“We created Zynecoin to provide seed capital to Africa’s many talented startups, entrepreneurs, and innovators a secure digital currency that can be used to support and reward their efforts and bring Africa the true benefits of an integrated, trustless economy,” said Mossaab Tazi, speaking on behalf of the Zynecoin team today.
“Africa isn’t just rich in resources it is rich in ideas and inventions that can change the lives of people, not just in Africa, but globally. Using our smart blockchain platform and smart contracts, investors can now back tomorrow’s best ideas from Africa’s smartest minds, benefitting at the same time from the advantages of our integrated economy.”
A core part of the Zynecoin ecosystem is the Zyne Academy and Incubation Center. The Academy nurtures select projects by providing expert analysis, auditing, and advice from a panel of international business and blockchain experts. To ensure that these resources are used effectively and provide the greatest ROI to investors, the Academy’s stringent guidelines ensure that only the most promising projects can join the incubator.
With the Wethio blockchain, Zynecoin will also introduce a new feature to cryptocurrency: split transaction fees. Other cryptocurrencies like Bitcoin and Ethereum fund their miners with 100% of the transaction fees. Zynecoin, however, will distribute the fees differently. 50% of the fees will go to the miners, another 25% will be directed to fund humanitarian causes, and the last 25% will go to the heads of African states. These fees will have a clear portfolio allocation for public viewing.
With this distribution, the Wethio blockchain will allow Zynecoin to not only fund startups and tech projects but also directly strengthen the African economy and make the world a better place.
Video Link: http://www.youtube.com/embed/CBnIRrx35rw
Video Link: http://www.youtube.com/embed/JDBfy_l7Jrs