Zinti A name inspired by a Ghanaian economist George Ayittey in a tweet he sent out in April 2018. It is about time Africa fully participates in the world. This calls for an inclusive Operation Restore Africa.
What are the Problems being Addressed?
On March 21, 2018, following a treaty signed 6 years earlier that Africa will have a Continental Free Trade Area, CFTA, 44 countries signed the CFTA into effect, two notable breakers of the treaty are Nigeria and South Africa by not signing the treaty. But are they essential to Zinti’s success if at all Zinti will need such large political support when the idea is to depoliticize money so that it can carry out one of it’s major purposes, that of allowing smooth trade between societies, not becoming a barrier to trade. African currencies are not good stores of value due to their heavy links to politics, they hinder trade because the Africans don’t want them, that is why they always hide money in US dollars. Who ever heard of a Naira secret account? but we know of a small country like Switzerland having secret Franc accounts.
That 44 countries, a large number signed the treaty is a sign of 44 countries wanting to move forward in terms of making money. Africans working together will achieve a lot. True the idea of such an economic free trade area is the hope that inter African trade would increase thus reducing dependency on the dollar and other foreign currencies. This fixation on this need has fixated Africans ever since independence. They can’t solve it because they have over politicized the money. Soldiers need to eat, money losses value in such situations, print money and buy bullets more than you could possibly need in times of peace, but it is to suppress citizens, internal politics. The money is supporting a lot of political garbage, especially political bribes of one group or another, though usually the security services.
The simple reality is for the ideas of the CFTA to work money needs to be depoliticized, it must be for what money was originally meant for, and Africa needs that more than any other continent, especially if they would like to boast in the future that the CFTA is a resounding success.
Simply reducing barriers to trade should in the long run as it is hoped, have trade grow just because of the removing of the barriers. This in itself should result in better trust for African currencies, Africa must trust itself first, and stabilizing of the foreign currency situation, but trade would be far more efficient with a currency designed for Africa. Therefore, at this very moment we have a Common Free Trade Area in Africa with few if any trustworthy currencies.
It has been discussed that Africans do not trust their own currencies to hold value and this is largely because the money is over politicized. When Central Banks print money in order to reduce interest rates or vice versa, this is politics, a decision made by a committee. However, if on top of that money is being printed to pay soldiers, that is over burdensome politics.
There is the idea of a Central Bank for Africa providing a single currency for the continent. For a committee to define the lives of a billion, those billions belonging to different entities in already fractured societies. Take a situation where oil prices have collapsed, and Ghana is facing immense inflationary pressures as government staked its future in oil. However, in Kenya there is deflationary pressure because of their investing in technology sector. What action does the African Central Bank take, an average, a median response to appease both. What if the Central African Republic needs interest rates to remain as they are. The politics will hardly abandon African money just because of a setup of an African Central Bank and a single currency vested in politics.
The appointees to run this Central Bank are human too. Being human means, they can be bribed, threatened, because the decision to print money is still in the hands of a committee, some cash to raise interest rates can never be taken of the table. Government finance people and central banking official made billions after the bank bailouts in America, the money is too politicized hence the arrival of an idea like bitcoin. Before the coming of bitcoin there where already moves to digital money, people would pay cash to receive digital money in many video games, and that digital money could be redeemed for official currency, these where at the Internet 2.0 stage, as humans began to explore the internet.
The idea that another Central Bank is the solution to Africa’s monetary problems needs to be questioned and better solutions investigated, a solution that must go beyond committees but to the individual Africans who builds the societies to take action together, willingly, without the threat of force no matter how it is hidden.
The thinking behind the idea of an African Central Bank is Africa being slow, because of the corruption of the political system that then goes ad runs amuck in the economic system. Africans believe that they are copying Europe, they did it, but Africa is not Europe. Does Africa need institutions that are susceptible to corruption What Africans need are tools that allow them to be innovative, allow them to explore situations unique to Africa in terms of political and economic landscape. Africans need an incorruptible monetary life, solve one of its many problems.
Africa is constantly having foreign currency shortages. This is not just due to the factor of trade balances, with all the gold in the world, all the oil, who wants money that can be printed to pay of soldiers because all the foreign currency that few would be asking for has all been stolen. Africa has taken the possibilities of faking fiat currency to the limit. The US dollar is corrupt, ask what a price of bread was in 1945 and what it is today, Africa has abused corruption. of fiat currencies to its theoretical end limits. They studied very well the role of the central bank, they know it very well, then asked themselves how it can be abused to keep me in power, they understood people needed money to buy goods and services, but they also liked opulent life styles they see on western television.
Today trade between neighboring countries in Africa represents a mistrust of both parties involved in the trade with their respective money, they trust what has been termed as hard currencies, Tyson hard, only Tyson hard when Tyson is following the rules of boxing, and only hard currency if the rules of money are being observed, so the term hard currency is misleading and self serving. All these currencies face political pressure, they are only considered because the politics around the money is less corrupt than Africa’s. The politics around the money means the politics outside money themselves are less conducive to desired economic confidence. However as these “hard currencies” are less corrupt than the African currencies, it is the prudent thing to trust the less corrupt than the completely corrupt.
The paramount reason why Africa’s interregional trade is so low is that it was designed this way since colonizers, those who actually drew the borders of African countries arrived in Africa. African countries are meant to give their resources to the west, not to other African countries, this is a fact of life. This problem is further exacerbated by corrupt money. No matter the official political stance, the reality remains there must be profit in any trade, if it is easier to trade with Europe and China then Africa will continue to decline relative to other continents. True, there could be economic growth, but the influence will be further waning. The CFTA is meant to address this. It is this shortage of ack of trust between African currencies that is a major hinderance, and this lack of trust is for the same reason why there are perennial foreign currency shortages in Africa.
Shortage of foreign currency, due to the local currencies being corrupt has not just destroyed trade amongst Africans being citizens of different countries, but this corrupt money has hampered local development as well, Africa’s story must include a chapter on “the ultimate corruption of money”. The corruption of money has a spiral effect.
Take country X, it is a country in Africa and it has shortages of foreign currency. This foreign currency is earned primarily from selling resources and agricultural produce, as well as foreign aid. This foreign currency is exchanged in part into the legal tender to purchase things like bread, beer, fruits, pay for a taxi, pay for rent. When the government corrupts the local currency more than the foreign currency is corrupt, it takes more local currency to purchase a unit of the foreign currency. As the local currency continues losing value, local producers are selling their goods and services and cheaper and cheaper prices in foreign currency terms. Importing machinery becomes expensive as most often purchasing these machines is done with so called hard currencies, and it has been explained above why they are so called hard currencies. It often means one has to hustle just to get foreign currency and the most crucial element of a human’s life is wasted, time. We all have so much time on this earth, corrupt money, usually a result of corrupt politics wastes the time of the citizens of that country.
This waste of time is seen by the majority of Africans no matter how those in control say there is another side with swimming pools, the reality is that for the majority, their time is wasted on earth. Lack of foreign currency means factories have a higher probability of closing down. Without steady employment little planning can be made. Without steady employment and investment, it means that money that could have been used for education is limited, the basic education might be there, reading and writing, but the science labs are bare for the majority. The interest is therefore limited; hence we rarely hear of inventions from Africa, or new thoughts. This is not because the average African is dull, it is because of the political circumstances, thus a child with the greatest potential will be reduced to nothing because their parents are not connected to the corrupt system, and the corrupt system does not care about them. When money cannot be printed for soldiers, the corrupt cannot rule, how? The soldiers will desert them.
The root of the corruption is firstly not caring about the constituency that these politicians represent. This leads to policies of blind theft, that is what high inflation is, then the people are bribed by saying hate that other group, whilst they constantly steal. This cannot be done with honest money. Corrupt money exacerbates tribalism, the people need to have something to do, and hate is the easiest thing to offer people. Why not take from them, as the elite of that society their opulence, and at the end, for survival, tribalism can only, must only lead to a lot of death, today or tomorrow. Tribalism like racism affects those who seemingly don’t have power, but guns can be easily found in Africa for the willing, and all it does is embarrass Africa even further, the world scoffs look at those fools.
However, even those of the ruling tribe are losers, there still is no money for them, the money is still corrupt. What has been lost is time, time wasted fighting, if all the ethnic groups just respected each other, they would be far ahead, respect each others territory, which they would do if the economies where stable, money corrupted is the highest sign of instability. Foreign currency shortage is a sign of corrupt money, a corrupt economy, there is no point of talking about some notion of a great Africa if the money can be corrupted at a government whim, the economic multiplier works both ways, up and down. In reality with all the stolen wealth adding a multiplier effect over the decades, there is not one person in Africa who should not have running water, even in the villages, given the scale of the theft, Africa would not have needed one cent in foreign aid with honest money, governments would have had no choice if they did not have the ability through the barrel of a gun to corrupt the money. What Africans have had to do is adapt to corruption, honest money would have led to adaption positive culture. The man who has adapted to corruption is dead inside, real things like fighting for the truth become alien to him, basic survival becomes the first thought, the first action, he has no culture but survival.
The poor education systems, poor health systems, poor infrastructure, lack of opportunities, mass migration out of Africa, the ill treatment of black people all over the world, blacks are being enslaved in Libya, child labour in cobalt mines for Chinese miners, raping of African forests for Chinese firms, not the behaviour of a friend of the African people, this can all be traced to the corruption of money in Africa. This is the problem being addressed.
The poorest continent in the world does not need fees charged by banks and other money transfer systems. Africans need every cent that they can save. Middleman need a fee for what they do otherwise they will not have the incentive to provide the services they do provide. Money transfer agents at the moment serve a critical role in the remittance of money in Africa. But are their expenses necessary. Mobile technology is getting ever more prevalent in Africa, and the internet use keeps growing as well, primarily because Africa still has so much to improve as more affordable technology becomes available, perhaps the costs of the middleman will fall. In general, to pick up money one must physically go to the middleman’s office and receive cash. It is a cost for the sender who must pay a fee, and the receiver who must take time to go and get the cash. Sometimes the cash is not there.
The lack of stable currencies means the lack of financial innovation. It is too risky to create complex financial instruments to diversify risk if the local currency is corrupt and has no stable value. For example, all financial instruments that where created with the Zimbabwean dollar simply vanished with the vanishing currency. Who is so bold as to risk mitigate in such a situation such risks only the highest rewards are acceptable, so African governments take African lives cheaply, seeking those who will invest for the highest risks because the money is corrupt, highest risks include human life’s, once human life’s are cheap, corruption has a field day, anybody against the corruption dies, plenty of printing presses and enough foreign currency to pay of soldiers. Why bother creating a system to educate the human being when human life is so cheap?
Solution to the problems
What is needed is the African Revival Plan. The costs associated with the status quo are too high. They have been mentioned above. Africans are voting with their feet leaving the continent in droves, risking slavery from Arab slave dealers, risking their life’s in the Mediterranean Sea, this alone says Africa is in shambles. African government voices are meaningless because they have no money, Africans have no voice in the trajectory of world affairs that affect Africans as much as any other human being. This is all a result of the corruption of money.
To cover up their corruption, African governments have replaced the West as preferred partner, not because of some view of helping the ordinary African people, but because pressure was put on Western governments to consider human rights, though this is largely ignored, but at least there is a little sway for African life’s. The Chinese have no care for the ordinary African, African wealth has been given away to the Chinese just so that African governments in large part can remain corrupt. The Chinese turn a blind eye to the suffering of the masses as it prefers the material goods. African lives need to matter, African governments need to be answerable to Africans not some outside power, honest money in part ways will force African governments to be less corrupt force them to look at economic policies that ensure they themselves get money, if they are corrupt not a soul will give them money to oppress, as there will be no gain, and they will not be able to print money to pay off the security structures. Of course, there will be always outside sources wanting Africa’s wealth for as little cost as possible, but the people will have a claim to their wealth under their feet., but honest money will mitigate this problem.
The status quo can not continue if Africa is to make meaningful contributions to the well being of this planet, not always having some view imposed on them. Honest money will take away the constant hustle in the ordinary life of the African. Meaning Africans will be able to plan, have institutions that are African and well financed such that it becomes the quality of the Africans work that matters, not that some African view only matter if they are somehow useful for some power, just facts, depoliticize global science. The African’s view or facts do not matter if they do not satisfy the donor.
Honest money means that African’s do not just have to accept opinions are facts, they can verify so called facts from outside Africa. Africa needs its own institutions financed by Africans.
Firstly, what does the Zinti mean. It means creation of own blockchain that will be as beneficial as possible to the ordinary African, that stands a chance to be appreciated by the villager. When we talk of the villager accepting the money, and is happy with it, not just accepting more load after load, then we know we have an acceptable currency, the villager knows prices will not mysteriously rise from month to month. Blockchain offers this opportunity. The Blockchain des not only address the plight of the villager, it addresses the plight of the high-end businessman, one who must import goods and services.
The argument that there are already crypto currencies in existence is the largest counter to the solution. Bitcoin, Ethereum, are already blockchain currencies in existence, if we are to be a part of a commercially integrated world, would it not be wiser to have a connection to these currencies, to support them, to have ICO’s denominated by their current value.
The reply to why reject the bitcoin, Ethereum model, is that we desire the villager to benefit from technology and accept the change in technology. Have some sound money, so that even if you only frown about the system, accept it as fate, one can benefit from sound money, why not accept steady prices fate, an end to unnecessary inflation because of lack of political will. Bitcoin and all current Initial Coin Offerings have an extremely aristocratic in their view of the world. Ethereum and bitcoin are elitist of the highest order, those who get them win, those who do not get them will have to at a future date join in at a very extremely high price in the future, when 1 Bitcoin is worth US$1 000 000 in today’s money, and everybody else will buy the much lower denominated Satoshi at US$1 in todays prices and that is what the common folk will operate with, Satoshi, whilst the newly created elite will be using bitcoin. Ethereum rose to challenge but it’s ideology was the same as Bitcoin, an opposing elite standing firmly as they see as the creation of a new elite.
The solution must be as inclusive as possible, same money for everybody, but leaving room for those who are more innovative to create what is better than what is available for everybody. Bitcoin and those that have followed it thus far, believe in a system where the standard owned by an elite befits from technological progress from those below when equilibrium is created, when what is really needed is just a standard money in the hands of the people not an elite, those who are innovative are rewarded more than the standard that belongs to everybody, not some fat cats who created a thing to protect themselves and leave the rest of us tirelessly unknowingly giving our talents to them, our every innovation adding depreciation in the currency they “inherited”
What is desired is a cryptocurrency that is affordable to all, a blockchain system that has at its basis innovation of financial products for as many. As the idea is that the currencies value is determined by the people, more people are rewarded for innovation to use of a common unit that is stable because it belongs to the people. Bitcoin has the vision by the way it is structured, that the desire is a price of US$1 000 000 per bitcoin for todays.
What really is the point of currency worth at today’s price of over US$100, what has it to do with the price of bread. At the end of the day, it is not about destroying the banking institutions, but reforming them. Having no bank of any kind makes no sense in any economy but cutting out the bank as a middleman in many areas makes logical sense given the technology, but the idea of banking will be difficult to get rid off, huge projects will still need a pool of money from those who understand the contracts over and above the exchange of currency. Here we are of course talking about Initial Coin offerings, ICO’s.
A steady crypto currency means that has it’s price practically minimized, making it a common currency means that the only disruption taking place is replacement of corrupt money, the money remains that a tool for exchange, not the way to get profits as it soars in value over 10 000%, the ideal is that the price remains steady, and it aids in the creation and distribution of wealth. People understand that they can borrow in that currency and when they pay the money back it has not suddenly shot up in value such that more work has to be done to pay the money back than what would have been envisioned in the original contract. Imagine having borrowed 10 000 bitcoin for 3 years in 2014, now you are paying back more value than was ever envisioned in 2014, what is needed is stability and the Zinti must be designed in such a fashion, money for use for the people, the ordinary citizens, the villagers ultimately not creating a hierarchical class on who joined the money first.
When creating money, money must follow all the rules of money. Money is meant to make it easier to trade goods and services by means of earning that money. Is it morally justifiable
Creating a currency that does not over appreciate constantly puts to rest the fears of the traditional banks and the disruptive influence of crypto currencies. There will always be need of institutions that have a large pool of funds and who have expertise in analyzing the economy, business plans and understand how to create loans. The only difference is the money will be as crypto currency, limited in supply under a known protocol, there is no surprise in the total supply of money.
No person who believes in liberty is against banking, it is a necessary part of the universe. It is corrupt money and bankers access to free money from a central bank that people are against, that is free wealth. What is a bank? A bank is an institution that pools funds together and distributes those funds to those who need them.
The idea that owning cryptocurrency one becomes their own banker is a nice piece of propaganda, but it is not true. You can not lend yourself money, you can lend that money out, and receive interest, but individuals have been doing that for millennia, that does not mean their bankers. One can borrow money from their neighbor and be charged interest. A stable cryptocurrency will allow the banking institutions to adopt to the new currency and issue out loans to business and government. Nobody will lend out money to corrupt governments that overspend the peoples’ money if they can’t pay back, and governments will not have the recourse of printing their own money to hide their corrupt ways.
Cryptocurrency does not in any way suggest the demise of banking, they can and should remain the heart of the lending and borrowing business. They will just have to find new ways of pooling money together, knowing that there is little chance of official bailouts. The attitude of banks towards risk will have to change, the free market will be at play, they will not be guaranteed positions of permanent aristocracy. Honest money just means a new banking model.
Having a cryptocurrency wallet does not earn any interest, it is not a bank, one can’t pay themselves interest on their own money. A cryptocurrency wallet is a sophisticated method of having money under ones’ pillow. Innovation will come when bankers can find a way to pay interest on accounts. This will involve top developed blockchain technology, security. There is a massive role for the banker in the coming new era, and indeed they are needed, their expertise must be appreciated. For those with a banking mind, they need a stable currency, nobody is going to borrow money with high volatility, money must hold value, but the value must be created by the underlying economy, the creation of goods and services.
Of course, blockchain offers new challenges to the bankers, they must be able to get their money back from whomever they lend the money to, so a way for the anonymity of the blockchain must be overcome if one is to borrow money, a wallet is not an identity, it can be changed so many times. This will be up to those with a banker’s inclination to find out how this anonymity can be overcome and shall not be suggested in this whitepaper. This whitepaper is solely to illustrate the need of the Zinti in Africa.
Bankers with purely a mind for banking not crookery have no need to fear cryptocurrency. Crookery is being bailed out when the rest of the citizens get nothing and then claim one worked tirelessly hard for their money. They will take up their role as bankers. The government too need not fear, it will have its role as protectors of society, not looters of society. Governments will be there to enforce contracts, collect taxes but the tax policy must be fair because there is only so much money. Money cannot just be printed thus the tax policy and the size of the government must take into account how much money the economy is generating. Governments job will be limited to stopping harm on citizens and encouraging citizens to make a great society, but it will be up to the citizens to make the country great, it is citizens who do all the creating.
The Zinti does not prevent individual governments from creating their own crypto currencies, the Zinti is not there to prevent innovation. Governments as bodies can have their own ICO’s just as private companies and individuals, if they somehow feel the Zinti is either of too low a valuation or too high for their purposes, but they need to remember what money is, the minute they try to corrupt the money people will have an option to flee at a very cheap rate without having to hustle. It will be at the push of a button.
One must understand that interest rates of cryptocurrencies, yes, such a time will come, people will always need to borrow money, these interest rates will solely be determined by the market. There is no central bank. This also safes costs on the staff needed to run central banks. Governments might be able to dampen interest rates, but this will not be because of central banks printing money, but by governments realising coins into the system that they have collected through taxation, that will be the only remedy open to them, otherwise, interest rates will strictly be determined by the market. Governments though still have a duty to protect people from usury, this will be done by laws.
The greatest immediate innovation of course will be felt in the financial sector because of the greater variety of financial products that can be done to raise funds. All this will be done on the blockchain.
The current model of raising funds on the blockchain is to have an Initial coin offering. Company X issues so many coins, an amount Y. These coins gain and appreciate given the companies performance, and they can be traded with another cryptocurrency. This is fueled by the desire to replicate the amazing price rise of bitcoin but is it really innovation.
Bhekuzulu Khumalo wrote a paper back in 2010 entitled “Digital Economy and Knowledge Economics: Implications on Economic Model.” In this paper it was argued that the basic economic model will not change, more will be demanded at lower prices, and more will be supplied at higher prices by the actors. Loans will still command interest, owners of business will still want their profits. The greatest innovation of the blockchain will not be the issuing of new coins as such but moving the economy to be entirely digital.
Initial Coin Offerings, ICO’s, will have to change their structure if they are really to be helpful to entice huge institutional investment in the long run. This is a white paper about the Zinti, but it is felt that it is important to touch on ICO’s given the paper that Bhekuzulu Khumalo wrote back in 2010. There are also political reasons to discuss why ICO’s need to change from their current structure.
On May 2 2018, Priyeshu Garg put together a well linked article about worries that leaders in business and politics in the USA have concerning ICO’s, and these worries are well founded. Are ICO’s securities or utility tokens. Those who do not want regulation call them utility tokens and those who want them regulated call the securities. Top business and finance figures like NASDAQ CEO and Bank of America CEO says these coins will aide in criminal behaviour. All money aides in criminal behaviour and a CEO of a large bank needs to be careful after the bailouts, cryptocurrencies are a raise in part because people felt that those bailouts where criminal and immoral behaviour, more tact is needed. Goldman Sachs understands this and has entered the ICO business. It is politics however that will have the final say.
A man who seems to understand the evolving nature of business is William Hinman. He understands there needs to regulation, but the regulation must not be one big piece of legislation as this risks stifling innovation, he is quoted by Garg as saying, “”
However Democratic Congressman Brad Sherman considers ICO’s a downright scam and would not mind them banned altogether saying they have no benefit to the economy as they impacted on the ability for the Federal Reserve to control economic phenomenon, experts totally ruined the ide of work hard, nobody wants a rigged system, perceived or real. Sherman does not understand that is why this type of currency is rising.
ICO’s are not initial public offerings, IPO’s, but a blend, Initial Public Coin Offerings could offer so much more, something that the public will love. Imagine selling parts of your shares for other shares, that is what crypto coins that are shares would enable one to do. Sell one hundredth of a share, exchange it for other shares instead of money. Share worth 500 units could be divided into so many parts, one will not have to sell it and then buy other shares, they just trade those shares in parts. For example, say Apple shares are worth 150 unit each and Ford 10 units, if one wants to spend 5 units on Apple shares, Initial Public Coin offerings will offer this opportunity. One could trade the ford shares skipping the middleman and immediately get 10 units of Apple.
Initial Public Coin Offerings, IPCO’s, have so much to offer, the blockchain has so much potential, so much innovation. Let us say there are 25 companies in a securities exchange, companies A to Y. Company Z is to become the 26th company on the exchange, It raises the capital the same way as all the other 26 companies raised shares. The company wants to raise 2 000 000 Zinti for building 3 more abattoirs as it see’s demand for beef rising. It does this by issuing 20 million Z tokens in an ICPO, that means that a Zinti will give you 10 Z tokens, and these Z tokens will be tradeable on the securities exchange. John Sanusi is from the Central African Republic and has bought 100 Zinti worth of Z tokens, receiving 1 000 tokens.
With these tokens, given what blockchain is, John Sanusi can exchange these tokens on the exchange for Zinti, hopefully they will increase in value if company Z sells more beef. He however can also exchange them for any of the other 26 tokens that are on the exchange thus saving on fees, he will not have to first sell the tokens, then purchase say company A tokens. Sanusi can hold on to his tokens and expect to receive dividends in Zinti as he has proof of ownership in part of company Z, if they make a profit.
IPCO’s mean that tokens become not just shares but a form of digital currency, all on the Zinti blockchain network.
The desire is that the Zinti works and is not just some tool of appreciation but a true replacement of money, not just o make those who get in early wealthy, but to fundamentally transform how business is done in Africa, it is designed to circulate and not be kept under the pillow, circulating money creates a larger economy. The desire is not for people to hold on to it, the desire is that people spend it on goods and services and Africa is the ripest place for such a currency.
A change of culture is required, that is what Zinti will do. It will force change, it will force monetary discipline, money is to aide the people to thrive on this earth, not a tool to be abused to oppress the people.
As important as monetary discipline is innovation. Blockchain technology is in its infancy as it enters the mainstream, African technology hubs can be at the forefront with a system a platform designed specifically for them to tinker with, and innovate on, the Zinti blockchain, a system designed to remain cheap for as long as possible. All these hubs will receive a massive boost with the introduction of the Zinti.
Konza City of Kenya is the first that comes to mind, but there are many others, Smart Exchange in Durban, South Africa. Iceaddis in Addis Ababa Ethiopia, Co-Creation Hub in Lagos Nigeria, Meltwater Entrepreneurial School of Technology in Accra Ghana, Kinu in Dar es Salaam Tanzania, Hive Colab in Kampala Uganda, iLab in Monrovia Liberia, the support of all these technology hubs will be almost guaranteed, something they can play with, the Zinti blockchain is what they are looking for.
As shall be seen the Zinti will be designed to remain cheap such that innovation takes place with the Zinti itself not with search for cheaper alternatives. That means when cheaper alternatives are looked into, innovation within the Zinti itself will be exhausted, that is why supply must be such that one can purchase fuel at the fuel station for their car. After all the mandate for these hubs is to find social solutions using technology.
The Product
The product is 2, there is the Zinti, and there is the Zintali, one Zinti is equal to 1000 Zintali, for the asking price one could get 1 Zinti or 1 000 Zintali. This is so in order to promote the blockchain, that can easily be split into 2 different blockchains requiring same technology in terms of security but different uses in the future. Each product in the blockchain space is a separate blockchain, they are main blockchains and lessor blockchains. Bitcoin is a main blockchain with bitcoin-based cryptocurrency it’s supporters.
The Zinti/ Zintali blockchain are the same, but their products can be more readily attuned to different clientele not forgetting that one with 2 000 Zintali has more than one with 1 Zintali, it will be merely they have different outlooks on life. One technically should always have more use that is why at the cut off when mining begins,
The Zinti/ Zintali cryptocurrencies and related blockchains are to be a basic tool of good commerce, money. For it to be considered good money, there must not be too much of it. It is a well-known fact that too much money causes inflation. Take an island economy whose economy revolves around sheep. There are 100 sheep and 10 000 units of a currency, on average each sheep is therefore worth 100 units of currency. If another 10 000 units of currency is printed, the fact that there are only 100 sheep does not change because more money has been printed. That extra money merely means the sheep will double in price but not in value.
If there are only 90 units of a currency, there is not enough money to purchase all the sheep, this is a sign of too little money. There should not be so little money that it hinders commerce, everyday, money should allow one to purchase something in the market, that is the reason why money was created, for convenience.
Good money must do its part to support the economic well being of a people, this is a matter of trust that tomorrow the money will not become worthless, care has been given to the scarcity of money in relation to the goods available in the economy. Money itself because of its qualities and properties is a tool of exchange. One cannot change the properties of good money, once money is politicized it will be constantly losing its value. If its properties are kept to “money” for as much as possible society will respect the rules of money and money can do its job for society. Money is a tool, you can’t force a tool to do what it was not designed for, a hammer will never be a remote control, it is not designed for that.
Money is a tool of exchange, be merely understanding that it is a tool of exchange one understands that the money will gain more value if it is used in exchange. To be able to handle more money an economy must be having more exchange. To have more exchange means policies towards increasing that exchange, towards increasing economic activity. Money per se does not create economic growth, it is the human mind, but the human mind can be incentivised with proper money, a proper reward for a contribution, so that their effort is rewarded with the ability to get decent money exchange it for food, or pleasure as well as bills.
If there is no incentive to earn that money as it has become useless, economic growth is hindered. Thus money aides in economic growth by making sure that the value people have placed on something is more or less in line with the price of that good or service.
Good money is money that people would like to accumulate, it encourages people to do more, there know what to expect with the money, they know policies around the money will not change because of some emergency, the money is fair, neutral and must be earned by all citizens. Limited this money must be earned, because limited amounts of money are under no political control. Good money and keeping it good means allowing more liberty, if people are allowed to do, they will only do if they see there is a reward. Money takes the fakeness out of those claiming to understand liberty but constantly corrupt their money just because they can.
As good money can not be politicized it encourages the actions of individuals to hustle, and in free exchange, by free association create, with the understanding that this is about good money, if somebody can do it better, such is reality, some of the money will go to him, fair is fair, money at the end of the day to be considered a scale, at it purest theoretical form, money is about sharing, that is why the larger economies have more people participating,
Sharing can not be dictated upon, you share with whomever you desire. There is nothing like sharing, it ensures one has the knowledge for the next stage, remember sharing at college, everybody would bring bits an pieces of what they knew, value was gained, everybody gained, true money is about everybody sharing what they know best and everybody gaining, that is why the Zinti is about as many Africans being involved, money is about rewarding an act of sharing, that is what trade is, I share with you, you share with me, and the sharing to be fair, predictable because the money is as true a scale as possible to equating value and price, to do this money has a predictable conservative growth rate, as well as expected scarcity meaning work must be done for that money, it just can’t be printed to serve a few or for political expediency, the long term thriving of the society is more important. Money is a tool of sharing.
Money is and has always been a system created by the foresight of humans to aide in trad, to aide the process of sharing, this is what I have, may I share it with you, what do you have to offer. The misunderstanding of money is that it is a selfish thing, far from it, it is a tool of sharing, a tool of appreciation, just as long as nobody plays around with the supply, the supply must be an effort eventually. The ideology behind the Zinti is that sharing is a good thing, the more involved in that sharing the better, that is why the ZINTI’s ICO will last 3 years and a massive campaign in Africa will take place, after that it is controlled by computer algorithms. That is why the price will be suppressed for 3 years, after that it is determined by the market, Africa would have had more than ample time.
When we understand that the Zinti is about sharing, we can accept scientific truths like the first law of information, the first law of everything. Every relationship means there is a loss of freedom. In layman’s language every relationship has a cost. The logic and science behind it is very true, you could be not reading this whitepaper and doing something else. Reading this whitepaper is a relationship, it means more to you at this very moment than reading something else. The white paper has been shared and you have offered your time to read it, sharing has taken place.
The Zinti is about a scale to aggregate economic activity as well as to understand individual choices, but the individuals must first create their relationships with a sound tool, purchasing an apple is a relationship, when money is being spent there is definitely a relationship, that relationship must be willing to allow money to show the true preferences of society, it can only do this if the scales are counterweighted towards forced relationships paid for by money, you must use so and so for this, money is no longer an honest scale, a scale to determine what do Africans rally want, and that is beyond goods and services. It’s about how do Africans want to spend their life’s doing, would those life’s be more fulfilled if they used their talents for beyond survival, but thriving.
What is Money?
Before talking about the actual Zinti, it is best we ask ourselves a question, what is money? Money was originally an idea about sharing, making sharing easier, because humans are social creatures with a stronger brain to solve things, not a stronger mind for survival, all animals fight to the death for what they perceive as theirs. Money was an idea to make life easier for societies, an easier manner of exchange. Sharing when it comes to paying a whole goat for a spear is far more cumbersome, mentally and physically than it is to pay 100 and 25 units of a particular currency, knowing I could have used that to get a beer that would be actually satisfying at the moment. How much beer does one exchange a whole goat for? Thus, if money was created for making sharing easier, its most important reason for existence is sharing, to being out the best in us knowing there is a common sharing system, we shall have food to eat in a comfortable enough shelter. Sharing is but an exchange, all other values come into play because money is an exchange, a tool of sharing, a medium of exchange.
It is because Zinti is a medium that after the initial batch, the growth of the Zindi shall be 0.5%, why, so that the Zinti remains useful as a medium of exchange, scarcity is a good thing, but to scarce means it is not useful as money, as a tool of trade.
There are other factors for having an increasing money supply, the essence of money is not to be a monopoly game, where whoever gets the most money that is the end of the game. Life must continue, what is being referred to are disruptive technologies, disruptive systems of doing business, this leads to huge accumulation of wealth. Take Rockefeller and the way he disrupted the lamp oil industry leading to massive control of the US GDP, Bill Gates of Microsoft, just take the 0.1% in terms of wealth today how much they control and have. But the game must continue, not favoring those who already control, but those who have better ways of doing things. That is what the Zinti is about, when cowrie shells where used as money people went to search for cowrie shells, but at the time the increase was small enough not to be inflationary. People mine for gold, it’s scarce enough that really no single deposit of gold will ever affect the view of gold. Many say before getting of the gold standard, 350 loafs of bread cost an ounce of gold for over 1 000 years, outstanding money. But there were always gold increases from the mines, not an easy job at all, very difficult from the push of a button from the Central bankers, sometimes merely the thinking out loud about am I going to do it, am I not from the head of the central bank.
Gold is the most beautiful money, when as an economist one talks of money. That means even in times of deflation, or inflation, the staple diet of some remained at 350 loafs for an ounce of gold. What is the use of being a man if you do not learn from your surroundings, the surroundings of Africa are the world. You look at your surroundings and make an informed opinion.
Gold has some faults according to some, but its good obviously outweigh it’s bad, a price of bread a staple diet one must not forget, remained around 350 loafs for an ounce, some claim since biblical times, if one follows the money, one can see some history of civilizations, a simple set where did the price of gold remain at 350 loafs for an ounce of gold, started in Babylon, money ended up in New York. Just trace the types of money, though not eventually touching the beginning of human history, it says something, an interesting way of understanding history, just as one can understand history by language.
Gold is a special form of money, gold comes from fire and has been very useful. Fire has given us everything, cooks our food, powers our jets, gives us plastics, copper, tin cans, bottles, there is very little that fire has not given us, and it gave us the perfect money for the age. Fire was the first form of radiation we controlled. It is now being understood that heat is just a low energy photon, easily released, released by a match striking a surface. The age of fire is coming to an end, but without fire we would not have come so far. We will one day eventually control heat the photon responsible itself, in fact we have entered the quantum age thanks to fire, the computers are all from fire, but they are certainly the boundary between fire and pure heat, fire split to photons that give light and those that give heat, they are not the same. Cryptocurrency is the idea of money in the quantum age. One can confiscate peoples’ gold, fiat currency, but how do you confiscate crypto currency, one will just deny having it once taxes are paid for an activity.
To be a good medium of exchange, the primary reason for money, it must be a good store of value. We can even go to utility theory, a utility of so many calories will always be the same, the staple food, your common food will always yield the same satisfaction, your stomach will be full, how then does one justify money that changes in value with the common food. No, the common food should be the standard, gold kept the common food at around $350 as it moved from Babylon to New York over Millenia. The money should give same satisfaction per unit over time with the common food, once it stabilizes, that is keeping value in scientific terms, gold did that, it kept the price of satisfaction for a good meal at the same price.
This is why there will always be room for gold under any monetary order, it will never be a relic, and when the Zinti stabilizes when the market takes over a price for an ounce of gold in Zinti will be set and gold will remain as money, filling a role of a certain price, for certain transactions and there is nothing wrong with that, it does not take anything from the Zinti, and the Zinti takes nothing from gold, both being good money will compliment each other, in fact Zinti foundation should encourage the use of ICO’s involving Zinti, gold and silver wherever possible. The Zinti is not there to be a dominant currency and fight other good money. No it will be good money complimenting other good money, it is just a tool created to help in freeing the mind of Africa, adopting the cultures towards creating value, reaching out to the universe understanding the Zinti was created out of the principle of sharing, that humans gain by sharing knowledge, every good comes from knowledge. Gold when stabilization occurs at most 20 years from now could play a crucial role in determining value retention between the crypto currencies, it has survived this long.
The age of a staple diet remains in Africa, but in many wealthy areas of regions of greater wealth, the age of the staple diet in many ways is coming to an end, eat from the whole world being their new thinking. In line with Zinti thinking, why can’t African money pay for food from the world, that is what the Zinti is about, Africa trading with the world with its own currency backed by the African mind and actions, and limited.
A good store of value has some predictability, we know how much of it is there and can look at the trends. A good store of value means that the money once stabilized it represents the constant utility one will get from a decent meal over the ages.
Money is not created to be a speculative tool, it is used in speculation like hoping shares one purchases go up, but good money itself is the not the speculative tool, money is meant for circulation and use. A store of value should not necessarily mean that the value of the money keeps going higher and higher, if money can not buy a meal because it’s value is so high, then what use is the money if it is constantly appreciating. Once stabilized it will be hoped that say 200 Zintali purchase a loaf of bread for over 1 000 years and 1 Zinti purchases 5 loafs of bread for the same period, these are hypothetical prices, eventually the market will determine the long-term price.
Product Distribution of Zinti
Each citizen is entitled to 115 Zinti and 115 000 Zintali. This is because the project is about sound money for all, it is not as if a precedent is being set here, it is done all the time when bad money is replaced with less bad fiat money, a country announces in the morning that a bad currency is no more, there is a new one. Instead of differentiating by currency holding size, when bad money is exchanged there is usually some official rate like 20 of the bad currency for 1 of the new less bad currency that is still open to the same political forces. As there is no exchange for a good currency for a bad currency only introduction of a good currency, all citizens are entitled to the same amount. The rest is from the market.
Each citizen is entitled to 115 Zinti and 115 000 Zintali. This is because the project is about sound money for all, it is not as if a precedent is being set here, it is done all the time when bad money is replaced with less bad fiat money, a country announces in the morning that a bad currency is no more, there is a new one. Instead of differentiating by currency holding size, when bad money is exchanged there is usually some official rate like 20 of the bad currency for 1 of the new less bad currency that is still open to the same political forces. As there is no exchange for a good currency for a bad currency only introduction of a good currency, all citizens are entitled to the same amount. The rest is from the market.
A difficult but easily accomplished project if given enough time. One delivers a 10 fingerprint, ID, and one is given a code to download to collect what is theirs, it can be only done once. Codes given randomly in such a way that can not be matched with fingerprints, same fingerprints can’t ask twice. The Zinti blockchain is about a decent money for Africa. The founders and consultants receive 0.002% as compared to 25 – 40%. The Zinti foundation only has as a Reserve 0.2% as a Reserve as compared to 10 – 40% of private business. This is meant to be a currency determined by economic activity not some reserve.
Each African government receives 30 Zinti per head and the equivalent in zintali. Then distribution takes place first to protect the Zinti, and the progress of Africa. Un Peacekeeping is justified in that UN peacekeepers are often very busy in Africa, and with sound money, Africa can participate better in financing such an important organization. Again, this money is in no way forced on the UN peacekeeping division, it’s just there in case the world will prefer better money, take it when ever you please.
The Thwa foundation is justified that the San, Khoisan, Thwa people in Eastern African rainforests have had a more raw deal, this foundation is for them to recover, when they please but all intellectual assistance offered for them to set up a council that will look after their needs and participation, Africa is their continent too, and enough resources have been made available such that in a generation or 2, most San, Khoisan, and Twa in the rainforest will be participating in economic activity with as many as possible having a university degree, they could excel in this world if they look at it differently, if they choose.
Caribbean countries receive the same amount of 30 Zintali per head and the Zinti is distributed as in table 2.
Caribbean countries have their share of distribution of the Zinti and Zintali at he same rate as African countries. Understanding the politics, the Zinti foundation shall insist on development of the Zinti in regions but will be the trustee of these coins for the countries that refuse to officially participate out of fear of political ramifications over the welfare of the people. The Zinti foundation shall retain as trustee and hand them over the second the country realizes the reality of money.
In table 1 we see the Thwa Foundation. This foundation is in line with the idea that the Zinti is about sharing. The Thwa people of Africa, the Khoi, the San, the Batwa in Congo receive something, a foundation run by them to give them time to adopt, education at the least taken care of at their own time, but the resources are there. The rise of Africa must be inclusive and everybody giving their best and given time to adapt, we are after the African mind.
As mentioned above, the Zinti is not about exclusion, but understands the evolving reality and it’s job is to create an exclusive economy in these changing times. Africa must not continually be left behind, it must at one time keep up and trust the black mind., a stable, scarce, money has been created for that reason.
Justification for Amounts of Zinti and Zintali
Why a trillion Zinti. Being a cryptocurrency that is to be inclusive. The initial involvement of the Zinti foundation is the first 3 years when it suppresses the price to 30 cents per Zinti. The African economy should by that period be at 4 trillion US dollars, at the first trillion is expected mined out within a decade, the African economy should be 10 trillion, giving the Zinti a conservative economic multiplier of 5 because the Zintali is factored in. The limited amount of the Zinti should allow for increasing value, at the least retainment of value because it is limited. Just a tool of trade, anybody can try out their socio-economic theories, the money will quickly show, difficult route.
Price of Zinti
For the first 3 years the Zinti will be limited to 30 cents per US dollar by the Zinti foundation. As a promotion, the first 3 months it will be held at 25cents. The same 30 cents will get you 1 000 Zintali. After the he 3 years the market takes over as the recovery of the Zinti and Zintali will be by crypto currency mining operations. But given the reality of the Zinti as a steady currency, in a decade, following the rules of knowledge, Africa would not need reparations from slavery and colonialism but just a trust of the African mind, liberty, a trust of freedom Africans can forget the past and build the greatest future.
Money should not be considered as an investment but a tool of everyday exchange, everyday sharing. With sound money one can then make sensible investments, money itself should not be the investment, always expecting it’s price to rise higher and higher, Money should buy a mango, thus nobody wants a large appreciation in the Zinti, but larger increases in economic activity around the currency.
The Foundation
The foundation will be known as the Zinti foundation, The coins are a creation of this foundation, at any time the African Union can take over the running of this foundation, but the core principles of the Zinti cryptocurrency remain as is, the supply of the coins is limited to 1 trillion zinti in the first decade, once the number is surpassed cryptocurrency mining operations become effective, and the price is set by the market as was explained above in this white paper.
The foundation is created in the name of the African people, to provide money free from political influence, money whose value will be determined solely by the economic performance of Africa. As such, though understanding the scepticism in such a project, especially from the political front, the properties of money have been explained above. Here will be a perfect barometer of how the aggregate African economy is performing, as well as how African countries are comparing to each other.
As has been seen from the initial distribution of the Zinti to all African governments as well as governments of Haiti, Jamaica, Trinidad and Tobago, Bahamas, and Guyana, this will not be by force, a concept against the very principle of Zinti, by persuasion, there might be protests from African governments, what, losing control of the money? But here is an assurance, believe it or not, nobody is against reasonable government, a government that recognizes the historical rights of it’s people, it’s cultures, there was an Africa before colonialism, a very ancient continent with ruins 200 000 years old.
What the foundation says, in case the money that exists in Africa continues to be a perennial problem against Africa’s progress and lose value, you all have your packages of sound money, given to you as benefactors under the African Union that can take over direct control of this foundation at any time it wishes, given status of Zinti is maintained. The alternative was always maintained by those who cared about the future of Africa belonging to the African people, science has proved the law of averages is an important concept even when it comes to guessing, in large numbers, the average guess will be correct, that is an important quality of money that is too often overlooked, but you can’t give one opinion more weight than another in a guessing game, a negotiating game like what is the value of this? What is the value of this is not the same question as what the distance between the earth and its moon is. We know the exact kilometers of the distance between the earth and the moon, but the value of something is not the same for everybody. Money merely balances that view out, the many different opinions, only if money is not corrupted, money will average the value, at any given time we are purchasing the average price given all the possible weightings, money plays this role perfectly only if political considerations do not mess with its calibrations. Money is merely a scale, have honest scales.
The Zinti is set in a very conservative manner in terms of what money is, it should be used at the market, to purchase a pizza. It must be remembered that money is a scale used at the market to aggregate prices. The foundations first aim is to protect the integrity of the Zinti blockchain and all the associated blockchains underneath that will come about as innovation around the Zinti takes place. It will do this:
· Through research, it will support research in all African countries as well as internationally about the Zinti blockchain, and even when it advances to blockchain 2.0 or something that morphs into something more powerful than the blockchain technology the Zinti will survive the technological evolvements.
· Turning theory into practicality, practical innovations that utilize the Zinti are fully supported given the resources of the foundation. Practical is when theory moves to use. This is expected to take place in the hubs that some African governments have set up to boost Africa’s technological use, to create products using latest from information technology sector, these include the likes of Konza City in Kenya. The Zinti blockchain will offer these hubs a chance, it is expected these hubs will have cryptocurrency exchanges, as well as find easier ways of using Zinti for their own profit.
The Zinti foundation will be limited in resources, there are three great social causes of our time, education, health and scientific research. Given the limited funds the foundation will sponsor that will offer theoretical studies into Information, mainly particle physics as well as how all disciplines basically are studying the same thing information. The foundation will make sure that facilities for experimentation in quantum physics are available for African scientists. Quantum technologies are a significant contributor to modern economics, up to 30%, think about it, the cellphone is a piece of quantum technology so is the television, and Africa needs to be involved in the basic research into the fundamental properties of matter at it’s most basic.
The justification of the Zinti Foundation sponsoring a research facility in quantum mechanics, a research institution, is that quantum technology is the future, from quantum computers to better televisions and communications system, this all comes from understanding the behaviour of particles at a smaller than atom level, sub atomic level. These facilities are expensive and are desperately needed by those who will push our theoretical understanding in Africa of this level of science, and thus the resultant use of this knowledge to create goods and services.
The Zinti will bring about a change in culture, there will be honest money and a move towards the African people being more involved with the economy, participate without favor but because they are citizens of Africa. Africans will then appreciate to a larger part to become involved in the creation of goods and services, the future is quantum. The internet itself, blockchain technology is a result of turning the quantum into technology for our use. Thus, it is only natural for the Zinti Foundation to look forward when Africans are involved in the understanding of the quantum and below, what technologies will dark matter involve, the African must participate freely and contribute freely to global knowledge through this institution. Contributing to global knowledge is not just the theory but turning quantum knowledge to a television.
The Zinti has been created out of the belief that the African can contribute more to themselves, communities, societies, and human race, and they need to contribute. The Zinti’s aims are to remain within the frameworks of what is true money? Money is a tool of trade, for us to exchange and improve through that exchange. True money does not believe in a zero-sum game, that for one to win the other must lose. Thus, Africa contributing to the world means Africa can share more within what the human race has to offer, and the human race will gain by each new theory and experimentation that comes out of the African mind.
Given that Africans desire to participate more, it is not unreasonable to expect Africa to play a more crucial role in the global economy over and above a resource supplier. It needs the institutional support from the non-government sector. In time this institution will allow the Africans to create quantum goods and nano technology, the Foundation is looking into the future, a decade perhaps 2 decades into the future, thus institution needed now.
The resulting goods and services created will create an economy, the companies will be taxed, and education and health care will benefit, but the resources must be created first, sustainable visions. The primary resource for human beings has always been the mind, the Zinti will be there as a stable currency to let people know they can plan for the future, they can do research, in the long run products, goods will come out of it.
The Zinti Foundation understands though the education needs of Africa and health care of Africa is critical, given the resources it shall have it must look for ways to permanently eradicate these problems of poor education and health care in Africa. The creation of goods and services and participating in the future means getting ready for that future now. The Zinti Foundation given it’s resources that are limited by design, must take care of what eventually will eradicate health problems and the education systems with value and wealth created from within Africa.
The cultural promises of the Zinti are immense. Africa should have the money to look after it’s own problems. With an honest money and the resultant innovation Africa will create more wealth than what is possible without the technology. More wealth means, and a rising economy means more people have time to be concerned about such issues as the environment, more people have come out of the basics of merely surviving, the relationship and attitudes towards the environment will take on a new outlook, what is the value of the environment beyond the immediate survival, there is some stability, what now is the long-term value of the environment and sustainable practices.
The value of African theatre will go up in Africa, as people have more resources to support such an important cultural tool. The value of African entertainment will rise as more people will have the resources to spend on entertainment. Entertainment in a cultural context is very important for the people of Africa. The value of African art, the paintings, the sculptures created by Africans will rise in value, the better pieces bought up by Africans not tourists. Money is just a scale, but when that scale is kept honest, people will know what to do. The value of African culture will rise because of better economies because the value of the African will have rise. The Zinti is about trusting the people, most them would value themselves higher if given the opportunity. The Zinti is not about closing Africa, but opening it, a human accepts truths of the world. Take the Buddhists, they say all men believe they are smart and correct, the Zinti will be an incorruptible predictable scale about what is true when it comes to the economy. The Zinti acknowledges there are many truths from outside Africa, and having the correct tool for trade, Africa can participate in the debate about these truths from all over the world. And understand the peoples of the world from an equal footing, of exchanging ideas, what is a television, it was the idea of a human, goods are just ideas, we trade beef, but we could be trading impala, the idea was beef is better, what we eat is an idea, not all of us have the idea of eating a snake, a monkey or a dog. A computer was originally an idea.
The first mandatory duty of the foundation is to distribute to the states of Africa as has been explained above, with the foundation collecting its 3% fee. There should be no complaints given that the foundation must be at the forefront of protecting the Zinti, African money. The foundation must establish the African Quantum Institute.
The set formula has been set above, proceeds to foundation, proceeds to A.U, as well as proceeds to the individual African nation’s, so called hard currency will be distributed, Africa’s talent and will to survive shall challenge this notion of money that can be corrupted. The proceedings the governments in the largest part depending on population are the largest recipients, certainly more than they will ever get for that wishful thinking of reparations, will there be discipline, but at the least an attempt was made to take the people into the future, and participate in the future, the people will buy themselves out of the chains and mind-numbing policies of African government and engineered low expectations from the international community.
The idea of Zinti is not to supersede anybody’s authority but to give authority of the future to the African people to the African people, it is but a tiny step out of many that are needed. The Zinti is not anti African, it is more than pro African, it is saying Africans given liberty and sound money to back that rhetoric of liberty they can more than take care of their own affairs and contribute to the understanding of this universe.
As idea of Zinti is not to supersede any idea about Africa but to enhance them, Zinti foundation will act in accordance of fulfilling Article 19 of the African Union, particularly by placing funds into the creation of the African Investment Bank as well as the African Monetary Fund. These funds will be made available with the initial sale of the Zinti and Zintali currencies, as well as initial deposits of such currency into a fund.
Proceeds from the Zinti will go towards the Quantum Institute of Africa, an Institute that will have as its Chancellor the Chairperson of the African Union Commission. The project is about sound money for Africa not to subvert the future of Africa, Africa must participate in the future. Success in Africa in contributing towards a future for itself, not merely living itself to dictates of fate.
Once the first batch of the Zinti is complete, it turns to a mining process to recover any Zinti, at a growth rate of a known 2% per annum.
In Summary the Zinti foundation will be in line with the philosophy of Zinti, nobody gets left behind, that is why people will be given time to get the Zinti, the price suppressed for people to have time. An economy is about people. There is a clay pot in Africa that cooks food and charges cell phones, why should such minds be shut, why should they not be allowed to flourish. The Zinti is an attempt to let them flourish, that is why time must be given to people to accept the evolving world.
Time also gets African coders ready, the people who will eventually be the most innovative in this blockchain. The foundation recognises that this is a massive opportunity for Africa to catch up technologically wise. Once the blockchain is there, it is there for those who want to tinker with it. With time more and more will want to tinker with it because it is there, and education institutes are churning out software people with nothing to do, they must be utilized.
Wyoming a state in America already has accepted cryptocurrencies as money and the talent pouring in there is eye opening. What is Africa waiting for. This is the chance, now, yesterday, but we in how we do it.
African policies caused Africa to miss out on creating great value over the beginnings of the internet, however Africans have a great opportunity to have a strong foundation in blockchain, and create wonders we are yet to see, and Zinti provides a cheap way to be involved, and as much ordinary people get in at the same price. Africans are all in the same plight together, the idea of the Zinti is to as much as possibly get out of the plight, a continent where a few have astonishing wealth whilst children are mining for cobalt is in plight. Blockchain is a next phase, and Africans need to participate and profit from it, and aide to the economic, cultural, and knowledge growth of Africa.
As nobody must be left behind, it understands misjudgement of those who like the status quo, that is why every African country receives 20 tokens for each citizen, they possibly will become handy in the future, take your time and decide, the foundation has your Zinti stored for you, the future was stored for you to make sure as many as possible are with the future, the ideology is that as many are involved in the future because economics is about politics, the more who contribute the larger the economy, so few as possible must be left behind, everybody belongs to the club, we are all members by simply being born, why hinder the other guy from making a contribution that would be large if not for deliberately hindering politics. Put as many people as possible respecting all their cultures and let the bloodshed end.
Reality of the Age The foundation understands the reality, it understands where the idea of bitcoins and other cryptocurrencies come from. It is a lack of trust in the current global monetary order. The current monetary order is being constantly challenged, world trade dominated by a currency that is at the whims of US domestic affairs is a massive international source of friction. Europeans don’t like it, the Chinese say why shouldn’t a global currency of trade be dominated by Chinese domestic affairs, they merely want to replace the US, but the exact same problems remain the sources of friction. People understand this but feel compelled merely by the power of authority to follow this broken system, authority is the same as decree, a system that was abused by African political systems, Zimbabwe has no currency, they thought money is some play thing then Mugabe asks who is asking me to leave, the ones who didn’t benefit from the destruction of your own currency. Having read this white paper we understand what money is.
The entire struggle for Africa was supposedly based on the need for Africa to control its resources, in laymen’s language, “How the Hell do you control your resources with the most corrupt money? Reality the less corrupt money will control the more corrupt money,” Zinti is to introduce the least corruptible money in line with other global initiatives for justice in the monetary field, the Zinti is to be introduced in the most inclusive manner possible, to be released in the least corrupt way, as well as introduce a technology that will have long term benefits thank to multipliers and laws of economics, the greater the profits the more people will enter, leading to ever greater increases in technology use and creation, within Africa, an alternative is being offered a good honest initiative to allow Africa to not only keep up, but be the innovators in the next phase at the early stages of the blockchain domain and therefore whatever will follow next.
At the end of the day why envy others, make ones home conducive to effort, the more effort the more likely work will be done. In macro economics work is done when there is no starvation and lack of shelter in a society. The Zinti is just created to remove some of the hinderances towards successful macro economies in Africa, the Zinti is saying the black mind in freedom is just that, another human mind and Africa can have anything that a human mind can conceive in line with the laws of existence, There is nothing wrong with Africa embracing the future at it’s earliest stages no matter what others are saying and become innovative in this future from the earliest stages, it’s already out there.
As the foundation believes in the African mind, the first 3 leaders of the blockchain research in order to protect it, must be any African or Caribbean who designs the best cryptocurrency wallet, if they can do that, they can defend the Zinti blockchain.
Any attempted tampering like hacking of the Zinti shall be referred to the African court as an enemy of Africa, the African court can do whatever it chooses with the evidence. A court system needs a police system to verify things. It is not the hacking of the Zinti, because the computer program will never allow it to be counterfeited, it is a legal brought because of the attack on the African people, an attack on the free expression of the African mind that neutral money brings. An attack on the well being of Africa’s institutions of final defence, the twin blockchains of Zinti and Zintali are a platform for innovation, time for Africa to stop being the last one expecting others to innovate for Africa.
It is for the above reason that the African Court and the African Investigative Services must receive their fair share of the Zinti to be able to operate to defend commerce, what kind of commerce is there if the integrity of the money is attacked technologically, means beyond the market. But of course the African Court has many other ideas like justice, liberty, unfair trade practices, rights to consider, this mandate will be given to them through the African parliament. The philosophy behind the African court is justice for a common African Destiny, that destiny includes the wealth of Africa. As well as the diversity of Africa, the idea of the Zinti has provided the financing.
Marketing
The marketing process will try to reach as many Africans as possible. It will be as efficient as possible.
Internet advertising will take place using as many African and Caribbean websites that we can reach.
Local Newspapers will be used to reach as many people in the rural areas as possible.
Meetings with local Chambers of Commerce
Participating in public meetings organized by states as well as NGO’s like the UN, and AU.
Constant presence in African technology hubs, they are the ones to prove its benefits in a practical manner and that they must claim the technology platform as their own.
Going to universities in meetings and talks organized by the SRC’s (Student Representative Councils) as well as the technology and Economic societies of the students
Useful Readings
Liedong, T.A. (2017) Could West Africa Introduce a Single Currency https://www.cnn.com/2017/08/08/africa/single-currency-west-africa/index.html
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African Union. The Financial Institutions https://au.int/en/organs/fi
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Chete, L. Adewuyi, A, Dynamics of Trade between Nigeria and Other Ecowas Countries
Other ECOWAS Countries https://www.brookings.edu/wp-content/uploads/2016/07/01_nigeria_trade.pdf |
CNN (2018) The African Tech Hubs Fostering Innovation https://www.cnn.com/2015/06/19/africa/gallery/african-tech-hubs/index.html
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Garg, P. (2018) Renewed calls for Crypto Regulationsfrom NASDAQ, Bank of America, and the U.S Congress https://btcmanager.com/renewed-calls-for-crypto-regulations-from-nasdaq-bank-of-america-and-the-u-s-congress/
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Hsu, S. Quantum GDP http://spartanideas.msu.edu/2014/12/22/quantum-gdp/
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Internet World Statistics https://www.internetworldstats.com/stats1.htm
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Khumalo, B. (2010) The Digital Economy and Knowledge Economics: Implications on Economic Model https://www.igi-global.com/chapter/digital-economy-knowledge-economics/65866
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Liberty Government and Constitution http://www.thenewearth.org/5personal.html
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Makadiya, P. (2018) Wyoming Becomes the New Home for Cryptocurrency Start Ups https://btcmanager.com/wyoming-becomes-the-new-home-for-cryptocurrency-startups/
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Moguldom (2018) Kenya Announces Technology City Development on Track https://moguldom.com/141612/kenya-announces-technology-city-development-track/
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Orzel, C (2015)What Has Quantum Mechanics Ever Done for Us https://www.forbes.com/sites/chadorzel/2015/08/13/what-has-quantum-mechanics-ever-done-for-us/#4489ca1c4046
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