I want to introduce you guys to our new project called Una, the first cryptocurrency for Africa, built on Cryptonote technology.
The reason behind this is purely to have a digital currency that can actually be used as a method of exchange in countries where cash is dominating, and banking infrastructure are lacking.
We have found that Bitcoin and most other Altcoins are not necessarily a great solution for emerging markets. Bitcoin for instance requires waiting time of anywhere between 10 minutes and 3 hours just for a transaction to be completed. Another problem with Bitcoin is that it becomes very expensive to transact as more people join the network. The skyrocketing value of Bitcoin doesn't help either, since it creates pricing and conversion issues in these markets.
Just imagine a taxi driver in Uganda offering a lift to someone, after the ride is complete, the passenger pays the driver 0,00011020 Bitcoin while the Driver has to wait 10 minutes just before he receives his payment. How would this be viable on street markets which is very common in Africa?
As of today, it would cost someone in Uganda almost 30 Million Uganda Shillings just to own one bitcoin. The extreme deflationary price is therefore not helping.
Purpose of Una
UnA will be used as a powerful tool to create better lives for people all over Africa, and to unite all African countries and all of its people.
Banking infrastructure is currently lacking in many African countries, and people have to rely on community safety deposit boxes for securely storing their cash. This however is not the most efficient and safest way to store money. This not only poses security risks, but also removes any opportunity to earn interest on these savings, leading to high opportunity costs.
The increase in utility of UnA, should provide the stability and trust that the people deserve, while also allowing them to benefit from the potential increase in value over time.
- Faster Transactions
- Dynamic GDP-linked Supply
- Increased Transaction Privacy / Anonymity
- Low Energy Consumption
- Integrated Wallet Mining
- Please note that integrated wallet mining is not yet operational. Refer to Readme file for mining instructions.
- Ensure to backup you wallet to prevent losing any UnA you might have.