Executive Summary
Since its launch in 2009, the Blockchain technology together with its underlying technologies has triggered tech and social revolution waves that have sent ripples across a horde of industries. Today, it’s not just the financial sector that is using the Blockchain technology, but other industries such as Healthcare, Insurance, Government, and IoT; the applications using the Block
chain technology seem limitless. One thing’s for sure: the Blockchain technology is here to stay just as the internet has over the past two decades. But amidst the hype about the Blockchain technology and the digital currencies, their adoption in the mainstream financial industry has been disastrous. Already, several banks have started to develop a foolproof methodology and standards that align the technology with responsible innovation. In 2016, IMF and World Bank held a conference that was hosted by the U.S Federal Reserve where an estimated 90 central banks committed themselves to researching into distributed ledger technology (DLT), the Blockchain and the digital currencies to create a responsible digital currency. Still, little has been achieved on this front making the adoption of these digital currencies to remain a mirage. Perhaps developing a cryptocurrency which is consistent with sound risk management and alignment with conventional banks can bridge the gap. If a proper legal framework can be developed to guard against regulatory uncertainty, then it can act as a catalyst for adoption and use of these digital currencies. Africunia is introducing an innovative banking model that allows the use of digital currency without hurdles, risks and technical barriers linked with owning, transferring, and trading in cryptocurrencies and tokens. Open exclusively for investment during ICO, Africunia is a third generation closed-end fund that uses the Ethereum Blockchain technology to create a peer-to-peer cryptocurrency called Afric
