Umojacoin progress

Africa has been widely reported as having one of the highest crypto adoption rates globally. This trend could continue if new developments on the Internet computer would emerge to scale through the development phase to a successful launches such as Umojacoin and IcPeak.

The governments of Cameroon, the Democratic Republic of Congo (DRC) and the Republic of Congo (Congo-Brazzaville) have all announced intentions to adopt cryptocurrency and blockchain-based solutions to drive economic progress. The three countries recently published separate press releases in which they outlined their initial thoughts on cryptocurrency and how they plan to integrate it into their respective economies.

UmojaCoin aims to bring this even closer by taking advantage of Bitcoin integration with the Internet Computer. The plan for All African countries should be to launch a universal coin (UmojaCoin) on the Internet Computer NNS.

"We’re not attempting to replace a national currency, what we are building is an organic hybrid currency , where UmojaCoin would be recognized regionally.” said Brian Michira

“A good way to think about UmojaCoin in this context is kind of like Venmo or MPESA, a money transfer company in Kenya. However in this case we can send Bitcoin as UmojaCoin would have canisters among other advantages that would improve trade within Africa.", added Brian Michira lead Scientist of UmojaCoin,

The future is bright, let’s work to achieve it together.

Just like the internet, which was little known at the beginning but has now become common, it seems quite obvious that the world will evolve in the direction of greater consolidation of this type of currency, (UmojaCoin). It is in our interest to reflect on the possibility for Kenya and all other African countries to directly integrate with this type of currency and to create a favorable legal and financial environment for its promotion.

1 Like