Afroin [ROIN] is a digital asset and blockchain network for the local and international trading of natural resources
In a few of years, the population of the world is projected to go over 10 billion people. Out of the 10 billion people, 3.3 billion people are projected to populate the African continent and of which an estimated 1.75 billion people will not have access to a bank account. With the power of blockchain, Afroin is here to integrate the most marginalized and untapped continent with the global economy by using the trillion dollar natural resources market that already exists within the continent.
What is Afroin?
The Afroin Coin (ROIN)
Click the button below to take part of the Afroin (ROIN)
Crowdsale in partnership with the POA network
1 ETH = 10,000 ROIN
Here are the plans that Afroin plans to get done over the next 2 years. We have a solid team and allocating the resources to make this a reality. View our team to learn more about us, the people who want change the way the world views commodity trading.
Initial Coin Offering
The initial coin offering of Afroin will hold from at the end of 2018 (TBA). Our white paper will be released in June 2018 for all our potential investors to see in detail all the problems we aim to improve with imports and exports of natural resources and manufactured products all over the world. The goal of the Afroin is to be most used cryptocurrency by improving a trillion dollar annual market.
January - April 2019
Afroin Checker Platform
The Afroin checker Platform is a decentralized identity ecosystem that will enable people (Afroin checkers) verify and confirm trades on the Afroin blockchain. The platform will use geolocation technology to get the nearest checker to sign off a transaction for confirmation to the buyer in order to keep the Afroin ecosystem safe and secure from fraud. Afroin checkers will consist of verified industry experts, truckers, custom officials and verified personnel from shipping companies
The Afroin mineral network is a decentralized network that will enable import, export and trading of natural resources to allow manufacturers get the best raw materials for the best possible price on the market. According to the world trade organization, the world trades over $3 trillion of natural resources annually. Decentralizing this market will allow for free and fair trade, supply chain efficiency, and quality of materials used for manufacturing. The internal testing stage will also include the Afroin checker validation program set up.
Internal Testing: July 2018 || Testnet Exodus: January 2019
Mainnet: April 2019
Afroin Smart Futures
The Afroin smart futures will enable contract agreements between manufacturers and producers to buy or sell a predetermined amount of a commodity at a specific price on a specific date in the future. All smart futures will be registered publicly on the blockchain as a binding agreement between both parties. This feature of Afroin will help decentralize the effect of speculators that make directional price bets on raw materials.
A technical overview for Afroin. Our white paper will in depth into all the problems we are trying to fix in the natural resource market and will explain how we can solve each and everyone with Afroin. Our Whitepaper will be available June 2018.
Founder & Software Developer @ Afroin
BSc. Electrical & Computer Engineering @ Drexel University
Data Scientist @ Vliso AI
PhD. Energy and Mineral Engineering @ Pennsylvania State University
Data Science Advisor @ Afroin
Software Developer @ Afroin
BSc. Computer Engineering @ Drexel University
Tech Analyst @ Goldman Sachs
Product Advisor @ Afroin
MSc. Digital Media @ Drexel University
Product @ Microsoft
Software Developer @ Afroin
BSc. Software Engineering @ Drexel University
DevOps Consultant @ PJM Interconnection
Financial Director @ Afroin
MSc. Finance @ Strathclyde University
Analyst @ Office of the Senate|National Assembly Nigeria
Financial Advisor @ Afroin
MSc. Finance @ Pennsylvania State University
Financial Control Analyst @ JP Morgan Chase & Co
Risk & Audit
Risk Advisor @ Afroin
BSc. Economics @ Canisius College
MSc. Finance @ The Ohio State University
Asset Liability Management @ HSBC (prev.)
Risk @ EY
Ani Okeke Ewo
Risk Audit @ Afroin
BA Organizations & Markets @ University of Rochester
Global Investment Auditor @ Vanguard Investment Group (prev.)
FinOps Auditor @ Comcast
Lead Logistics Engineer @ Afroin
BSc. Electrical Engineering @ University of Pennsylvania
Manager @ General Electric
Logistics Engineer @ Afroin
BSc. Electrical Engineering @ Drexel
Nuclear Engineer @ Exelon
Creative Director/Design @ Afroin
Digital Design Director @ PaidEasy (prev.)
Lead Product Manager/Dev @ SocialScan
Lead Product Manager/Dev @ Bolt
Logistics Engineer @ Afroin
BSc. Mechanical Engineering @ Pennsylvania State University
Benefits of Afroin
Improve Mineral Trade
Speed trade and make it easier for economic growth and trade between and within countries all over the world. A decentralize system will allow for healthy competition and less manipulation. The natural resources market is one of the most volatile markets because of the presence of heavy speculation
The Forex market in a continent like Africa for instance has been manipulated by both commercial and government central banks for personal gains and interest. Afroin plans to redefine the forex market in continents like Africa by decentralizing by standing as an intermediary form of exchange between the USD and local currencies.
Peer to Peer
Quickly pay friends and family locally and internationally with Afroin. Sending money to anyone overseas with Afroin will take seconds to get to the receivers account. Also with the Afroin decentralized exchange system, foreign exchange values will be much lower than the secondary market values in developing countries.
Transparency & Corruption
All trades on the blockchain will be displayed publicly to allow for governments to track all trades leaving their countries. This will allow for accountability, transparency and proper taxation. This will be hard to manipulate because of the decentralized Afroin network.
The Afroin network will verify all transactions of different metals and minerals to ensure fair trade all over the world. The price of every mineral/natural resource bought and sold will be posted on a public ledger to allow for transparency and fair trade .
Large Money Transfers
Organizations like Western Union have been accused severally of artificially inflating its fees for money transfers, charging what has been called an “Africa charge” of 8% consistently “applied across countries regardless of the size of the market, regulatory costs or market risk.” However, the fees can be as high as 10% or more, depending on the region. Africa’s remittance market remains the most expensive in the world, and the region is estimated to incur excess costs of $1.4 billion to $2.3 billion per year as a result of these high remittance fees.
International purchasing power over the past few years have decreased with most African currencies Over the course of 2 years, the local currencies of Nigeria, Egypt, South Africa, Algeria and Angola depreciated by 47%, 33%, 101%, 37% and 38%. Afroin is here to reduce the volatility of local currencies in developing nations. Most physical currencies in developing countries that rely on mineral resources are very volatile Afroin as an intermediary store of value between local currencies and the US dollar will change this drastically.
The Afroin blockchain will provide numerous employment opportunities in developing nations. We hope to cause a butterfly effect that will disrupt the norm of unemployment and create several opportunities on the blockchain such as the Afroin Validator program.
Supply Chain Efficiency
Supply chain is one of the biggest issues in commodity trading. The Afroin network aims at helping collaborations between entities responsible for production, transportation and storage if necessary. Collaboration will help speed transaction processes and make sure the buyer/manufacturer gets the product. Building a global supply chain in a world of seven billion people is a complex and uncertain endeavor, especially since an increasing percentage of the world’s population is demanding industrial products.
Fraud & Quality
The quality of rare mineral resources have always been an issue from time. Every sale on the Afroin network will be powered by industry experts to verify the quality of the product for a set tip of Afroins. This helps verify every transaction on the network to avoid fraud
Matching Demand with Supply
The ability to maintain a balance between supply and demand in supply chains is dependent on natural resources. The location, quantity, and quality of these resources significantly impact a supply chain’s capabilities and logistics costs.
Energy & Local Industries
Local industries on the Afroin network will be put first. Most developing industries do not manufacture or process their raw materials. These raw materials are supposed to be used to push industrialization and also provide surplus amounts of energy to power industries round the continent. The Afroin network will prioritize local industries over international industries to promote economic growth and double trade earnings.