AFRICUNIA Digital Bank based on the Blockchain Technology

bambang (10)in #blockchain • 7 years ago

A bank is a financial institution that receives deposits from the public and creates credit.The lending activity can be carried out directly or indirectly through the capital market.Because of their importance in a country's financial stability,banks are highly regulated in most countries.Most countries have institutionalized a system known as fractional reserve in which banks hold the same liquid assets as part of their current liabilities.In addition to other regulations aimed at ensuring liquidity,banks are generally subject to minimum capital requirements based on a set of international capital standards,known as the Basel Accord.

The blockchain network was initially a thriving block,called a block which was connected and protected using cryptography.Each block typically contains a cryptographic hash a timestamp and previous transaction data.With the design of the blockchain is inherently resistant to data modification,it is a distributed open register capable of recording transactions between two parties in an efficient and verifiable and permanent way.For use as a master of cards is distributed a blockchain it is usually managed by an peer to peer collectively adheres to the protocol to verify the new block.When they are registered,data in one of the specified blocks can not be changed retroactively without any modification to all subsequent blocks,which require the collision of most of the network.

AFRICUNIA is the First 100% Fully Digital Crowdfunded African Open Bank a Digital Bank based on the Blockchain Technology.AFRICUNIA as a new and unique Financial Institution is going to offer not only traditional banking services such as opening of savings & current accounts,issuing of debit & credit cards,loans and forex exchange services but also will provide innovative services such as bank-to-bank transactions,interconnecting the world of traditional finance and cryptocurrency startups.

Africunia Blockchain Technology will include browser-based ecosystem for simplicity and adaptability.We are also developing Digital Pass Technology and most importantly we will meet Security and USER EXPERIENCE (UX) requirements.We are building something on the lines of a Security Token (Digital Coin),which would have an additional layer,called the legal layer in order to incorporate standardized banking KYC/AML protocols,thus we are combining features and attributes of modern banking with digital currency,official website https://africunia.com/

AFCASH is the digital coin that will be created by AFRICUNIA BANK.It is essential to point out that AFCASH would not just be a CryptoCurrency,rather it will create an Ecosystem that will help bridge the gap between the fiat and the crypto universes and enable users globally but especially in Africa to help themselves.The AFCASH platform will unify all transactional aspects that are usually handled using the fiat currencies and provide multiple cryptorelated services in one place.The list of potential features of the platform will be infinitely extended and will continue expanding as the platform evolves.