AFRO is a non-political and neutral cryptocurrency, created for and available to all the countries of the continent, and worldwide to anyone willing to use this cryptocurrency.
The entire currency amount that was issued on June 19th, 2018 is 750 billion AFRO. It is symbolical that it makes 600 AFRO per citizen of the continent. 80% out of this amount will be reserved to serve specific social target in order to:
– to contribute to the emergence of the first Pan-African cryptocurrency, available to the whole world, decentralized, referred to as AFRO.
– to create and manage a “stabilization” fund, which is intended to provide stability for AFRO.
– to contribute to the promotion of the cryptocurrency as a medium of exchange and a system of monetary units.
– to promote its secure exchange through mobile applications, mobile terminals, payment cards, and generally all possible formats and derivatives.
– to contribute to the economic and societal development of Africa.
-to set up the humanitarian fund dedicated to societal innovation and finance of social projects in Africa.
Governance of the AFRO Foundation:
The spokespersons of Afro Foundation, whose mission is to establish and contribute to the development of a simple, transparent, equitable and democratic pan-African governance, will offer the resignation by December, 2020. From that point governance of the Foundation will be executed by a council, composed of the representatives from 54 African countries.
AFRO Masternode Operators have the right to vote and influence decisions of the Foundation.
80% of the Afros issued are reserved at the Foundation to serve its objectives, to defend the currency rate and to create a reserve of value in cryptocurrencies and foreign currencies, which are able to contribute to the development of the continent.
5% of the Afros issued are dedicated to the AfroTech company, which is in charge of the development, maintenance, secure hosting of the masternodes, the security of AFRO, and also the development of all the related applications and their derivatives, including execution of payments secured by a system of prepaid vouchers, debit cards, SIM cards, web wallet. The company is also responsible for the promotion, marketing and communication of AFRO.
15% of Afros issued belong to Founders and development team, that is running and financing AFRO project since 2016.