What is NairaCoin?

Abstract

The NairaCoin is a naira-backed digital token for individuals and organizations with a robust and decentralized method of exchanging value while using familiar accounting unit.

NairaCoin Building Blocks

NairaCoin will run on the Ethereum blockchain rather than a less developed/tested “altcoin” blockchain nor within closed source software running on centralized, private databases. With the advent of cryptocurrency, individuals are not only able to make fast transactions, they also have full control over their wealth.

Uses Of NairaCoin

  • Users completely own, access and spend from virtual savings account without risk or a need for third party approval.
  • Expose traders to forex trading through naira coin trading against other stable coins such as TUSD and Naira Coin
  • Act as a store of value and absolute control of individual’s assets
  • International remittance through partnership with other stable coin providers such that importation businesses using Naira coin can redeem them for dollars in USA through us at a very reduced cost.
  • Merchant integration for both online and offline stores. Online stores using online wallets/software. Offline through deployment of MPOS making your mobile phone a powerful and complete paymentsolution for all businesses.

Benefits of nairacoin

  • Allows users to move fiat in and out of exchange more freely, quickly, cheaply
  • Easily add other Coin pegged to fiat currency and trading pairs to the platform
  • Multi-signature security, cold and hot wallets, HD wallets, etc.
  • Transact in NGN/fiat value, pseudoanonymously, without any middlemen/intermediaries
  • International money transfer and withdrawal without risk of losing values due to volatility at near to zero fee
  • Avoid having to open a fiat bank account to store fiat value
  • Easily enhance applications that work with Ethereum to also support Naira Coin
  • Price goods in NGN/fiat value rather than Ethereum (no moving conversion rates/purchase windows)
  • Prevent chargebacks, reduce fees, and gain greater privacy
  • Provide novel services because of fiat crypto features

NairaCoin Features

Merchant

Diaspora Remmittance

Exchange liquidity

SME Loans

NairaCoin Gift Cards

NairaCoin Loyalty Points

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