ICO Today Magazine News
Africa is a continent rich in human capital talent, entrepreneurial stamina, mineral resources and is home to one of the fastest growing middle classes in the world estimated at around 350 million. Despite the progress made, Africa is burdened by poor economic leadership, currencies that are difficult to convert and old colonial borders that were drawn for administration rather than economic markets and are inconsistence with the growth of the large commercial markets such as COMESA.
Low banking and insurance penetration affects 70-90% of the unbanked in Africa. This has led to a thriving informal exchange and remittance market which is largely cash driven that enables international commerce. Cash is risky, expensive and limiting in terms of credit growth, financial inclusion and bulk purchases.
There is a compelling need to integrate all these nations and bring them into a common intra-Africa trading And financial platform. ICN is currently building the world”s largest offline & online blockchain backed by a Digital bank or financial network which will be the key foundation in building the cross-border ecosystem.In parrallel to the continuing activities to build the crypto economy .ICN shall collaborate with other logistics players such as transportation ,smart contracts legal documentation ,customs and tax authorities, warehoushig ,standards and quality certification ,fuel accomodation etc ICN will be able to circulate within this ecosystem at least eight times before exiting to other currencies making ICN the first truly real life usable currency.