ZYNECOIN - The Cryptocurrency of Reference in Africa

PREAMBLE

A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

While this revolution is gaining wide acceptance, Zynecoin (ERC-20: ZYN), a blockchain system created with the aim of supporting and rewarding talented innovators and entrepreneurs throughout Africa has arrived.

"In Africa, the number of entrepreneurs working on cryptocurrency and blockchain businesses is on the rise due to a growing global appetite for blockchain-based solutions and crypto-commerce.

With cryptocurrency adoption in the continent still at its infancy stage, most Africans have to contend with international peer-to-peer exchanges like Localbitcoins and Remitano to buy and sell cryptocurrencies. While the exchanges support millions of dollars in trades every day, users are often faced with above market rate prices when buying bitcoin and other digital currencies. Lately, though, we are seeing more localised exchanges coming up across the continent that supports local currencies.

However, the biggest challenge has been unpredictable nature of market regulators. Another problem that is getting bigger is the silence on the part of most governments on the continent on the regulation of cryptocurrencies. Regulators on the continent seem not to understand the fundamental concepts of blockchain technology and may take rushed decisions that will hamper the growth of the blockchain industry in Africa. As an entrepreneur, it makes it hard to plan with this high level of uncertainty at play.

The reality is the legal status of cryptocurrencies remains undefined in most African countries with regulators regularly sounding warnings against its use. The lack of a policy framework pertaining to digital currencies creates an environment of uncertainty for blockchain enterprises and hampers digital currency innovation across the continent."

With that beings said, As Africa’s first crypto, Zynecoin is doing more than just breaking new ground. Zynecoin is creating an infrastructure that can genuinely support and fund innovative startups and projects with high social impact and global competitive potential in Africa.

But before we go any further, please check out this video presentation to get even more acquainted

Now that I have your attention, let’s get right to it.

What exactly is ZYNECOIN?

Zynecoin is a cryptocurrency and blockchain system designed to support startups throughout Africa. But it’s also a great human adventure, the result of a team of people from different backgrounds.

Zynecoin began with a meeting between Mossaab and Jihad, where Mossaab brought up the idea of generating cryptocurrency and smart contracts backed by the Ethereum blockchain.

The proposal was an ambitious one. Creating and managing this system would be extremely complicated. And since there was no precedent for a blockchain developed and centered in Africa, it would also require them to mobilize a dedicated team without any guaranteed results.

Despite these challenges, Jihad believed in the project and saw the immense opportunities and almost limitless potential of blockchain. He brought in Youssef to provide their initial team with the technical expertise required to bring this vision to life.

Together, the three of them created and developed what would become Zynecoin, the first cryptocurrency designed specifically to provide seed capital for startups in Africa, with the goal of eventually developing an African blockchain.

In April 2018, the Zynecoin team moved into the next phase of their project and announced that they would generate smart contracts. This initiative launched successfully, with hundreds of people declaring their wish to acquire Zynecoin.

The Vision

According to the official whitepaper, the Zynecoin team is creating a cryptocurrency, blockchain, and an incubation center with services focused primarily in Africa. Blockchain technology, cryptocurrency, and decentralization offer real opportunities for the African continent. The growth of an African- based cryptocurrency will lead to the growth of the African economy. The use of decentralized currency in the continent will facilitate the everyday use of cryptocurrencies in commercial and business transactions.

Impending Challenges

There are currently three major challenges facing the implementation of blockchain systems:

Security

Decentralization

Scalability

Solution Offered

Collaborative mining is our solution to the problem of creating a blockchain that is secure, decentralized, and scalable.

To ensure that Zynecoin mining grows rapidly, we implement Game Theory principles to encourage the participation of multiple miners, both small and large.

How It Works

Each miner is faced with the same situation and must make a choice: collaborate with other miners or go at it on their own. In crypto mining, the best way to maximize individual rewards is usually to go at it alone. For Zynecoin miners, however, cooperating as part of a node group is the surest route to securing greater benefits. Miners, in fact, will earn money simply by participating in the node group, so long as the other members collaborate. When collaboration is not unanimous, however, there is a loss for all.

Why Zynecoin Stands Out?

After their initial success and promising launch, the Zynecoin team grew quickly and is now housed in a five-story building in the heart of Marrakech’s Guéliz district.

Zynecoin’s flagship project is the Hayat health services platform, which is currently being rolled out. Hayat is an innovative approach to decentralizing healthcare provision by allowing patients and healthcare providers to connect with each other through a dedicated app. This gives patients better, faster, and easier access to healthcare services.

The next step for Zynecoin is to announce the final date of the ICO (Initial Coin Offering), a global crowd sale for the cryptocurrency.

As its story unfolds, Zynecoin will be able to better facilitate innovation and development throughout Africa by mobilizing capital and human resources.

About The Zynecoin Token

Zynecoin is a digital currency generated from Ethereum blockchain.

Zynecoin is an ERC-20-compliant token created to provide startups with cryptocurrency that is accessible anywhere in the world, empowering them to scale globally.

The Zynecoin is a cryptocurrency built on the Ethereum blockchain that uses a decentralized registry system to record and verify transactions associated with it.

Zynecoin token can be used on all developed applications, it will allow its owners to benefit from an integrated economy whilst benefiting from Zynecoin advantages.

Blockchain strategy

Private transaction

Intelligent contract

Pay back

Token Usage

Zynecoin’s primary goal is to provide support for development as well as serve as the backbone for our international business model.

As a utility token, it provides access to services offered through by Zynecoin.

Tokens can be traded in online trading platforms.

Tokens will be generated in limited numbers and it will be impossible to destroy them, block them, or generate more than originally planned.

Tokens for team members, consultants, partners, and other participants will be blocked for a safety period to ensure their goodwill and sincere involvement.

For a cryptocurrency to be sustainable, it must be the engine of a sustainable economy - that’s why Zynecoin aims to strengthen the continent’s economic performance.

The more users, the more their distribution will expand, and the more the ecosystem will grow and gain value, benefiting long-time Zynecoin holders, including those who purchase it during the sale.

ROADMAP

Who Is Behind Zynecoin?

Zynecoin came to be as a collaboration between three forward thinkers:

Jihad Ouazzani, a marketing specialist

Mossaab Tazi, a certified blockchain expert with studies in finance and health information management

Youssef Darim, an electrical engineer and project manager

MEET THE AMAZING TEAM

Khalid SBAÏ

Strategic Planning & International Business Development

Mossaab TAZI

Data Analyst & Blockchain Expert

Amine MOUKIT

CEO of CDVI Morocco Consultant for the Use & Lend project

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

Website: https://zynecoin.io/

Whitepaper: https://zynecoin.io/wp-content/uploads/2019/01/wpz.pdf

Facebook: https://www.facebook.com/zynecoin/

Twitter: https://twitter.com/zynecoin

Telegram: https://t.me/zynecoin

Instagram: https://www.instagram.com/zynecoin_fr/

YouTube: https://www.youtube.com/channel/UCiZ-xova4unF-3HI04ZFOIw

Bountyminer Username: themichaelmatch

Bountyminer Referral Link: https://bountyminer.io/register?r=710958515

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.