Local firm starts campaign to popularise crytocurrency

August 14, 2018 in Business, Companies, Finance, Financial Services, Investment by Editor

August 14, 2018—CoinPesa, a Ugandan digital currency exchange has launched its Initial Coin Offering (ICO) pre-sale with the aim of getting more Ugandans on the cryptocurrency bandwagon.

Dubbed the CoinPesa Champion Referral Program, it uses Blockchain technology to create digital assets through tokenization and provides a way for users to generate an actual ‘tangible’ asset and sustainable incomes from their continued usage of the exchange.

CoinPesa CEO Suleiman Murunga said, “In this digital era, cryptocurrencies continue to emerge as new forms of investment and payment systems. Online businesses are proliferating globally and cryptocurrency is being used as virtual money to buy and sell items off the Internet.”

CoinPesa is a digital currency exchange built for the emerging markets users with a focus on the African market. They are solving the issues users face in the emerging markets while trying to access Cryptocurrencies by localizing the product to fit user’s needs. CoinPesa’s mission is to enhance financial inclusion though Blockchain based digital assets.

Murunga said, “As a digital currency exchange, our mission goes beyond just simply providing a point of access for users to access Cryptocurrency. We want to offer a platform that can be used to realize new possibilities, where users can access valuable financial services and uplift themselves through sustainable revenue generation opportunities.”

The CoinPesa Champion Referral Program is a direct system where users are paid a commission for every successful reference into the platform. It has been designed to allow the program participants to build sustainable incomes around their community development activities. The ICO-pre sale will give users the ability to purchase the CoinPesa Token (CPXT) which is a utility token that they will use to pay for various services on the platform such as trading fees.

“We decided to have this program in order to get the community involved and vested in the growth of our platform.  We recognize job creation and value addition as key areas of impact for us as an exchange. The region has one of the highest youth unemployment rates. Our program provides a platform for people to get into Cryptocurrency trading to create sustainable working tools for the community that would then help them access revenue channels and improve their livelihoods,” Murunga said.

Blockchain technology allows digital information to be distributed but not copied thereby creating the backbone of a new type of Internet. This new technology has gained global attention that it has built trust into systems used for transfer of value information such as money and intellectual property. Experts believe Blockchain technology can be used in Uganda, to address challenges in the country like authentication of land titles, eradicating the problem of counterfeit drugs entering the country and authenticating of university degrees.

Murunga said, “Blockchain technology gives us the ability to create digital assets like never before. We believe in a world that will only get more tokenized and almost anything of value will eventually get tokenized. We believe this is an opportunity to create an actual asset that will give users the ability to treat their network like any other valuable asset. They may decide to sell it, use it as collateral or transfer it to their next of kin.”