The Zynecoin Project Team is Creating an Africa-oriented Incubator with Blockchain and Smart Contracts - Reuters

 

The Zynecoin Project Team is Creating an Africa-oriented Incubator with Blockchain and Smart Contracts

The Zynecoin Project Team is Creating an Africa-oriented Incubator with Blockchain and Smart Contracts

Wed Mar 6, 2019 - 12:00pm UTC

Zynecoin has come up with a project where entrepreneurs can easily work with mentors. With this combination, they can encourage start-ups as well as convert the start-up into the big business. An effective opportunity for start-ups in Africa.

Marrakesh, Morocco – March 6, 2019

The Zynecoin project team is creating something analogous to Silicon Valley in Africa, whose economy is growing rapidly. According to a report from the International Monetary Fund, the aggregate GDP of African countries in 2017 exceeded $2 trillion and increased by 3.4% in 2018.

To support its business incubator, Zynecoin is inviting investors to join its ICO, which is running in seven rounds from January 25 to June 7, 2019. Until March 9, you can still purchase tokens at the second round price with a 20% discount, and from March 10 to March 31, the discount will be 15%.

Two things distinguish Africa in terms of its tech boom from similar centres in other parts of the world: First, Africans use technology to solve primarily local problems. One example is Zynecoin’s partner, the Hayat medical platform, which is designed to decentralize medical data storage and improve the interaction between patients and healthcare providers. Secondly, in Africa, they are developing products aimed primarily at mobile users. This is because the vast majority of users access the web using mobile devices.

Zynecoin offers a model where entrepreneurs work with mentors to create start-ups and transform them into stronger businesses. They provide advice; they mentor and also provide office space for start-up development.

The start-ups will get effective assistance from the Zynecoin team. The start-ups with less capital will get required capital as well as they will get strong support to the early business models for impressive growth. Zynecoin team also provides security and protection through legal services. The financial experts provide valuation and DCF (discounted cash flows). The experienced staff of Zynecoin also guide the start-ups with a strong market strategy. They provide complete support to join the start-up business with an existing digital ecosystem based in Africa. The networking will be done by talented creators and professionals. As per the Zynecoin business model, the start-ups also get access to comparative data with industry competitors while avoiding conflicts of interest.

Zynecoin’s collaborative mining has a number of principles. As per the first principle, hashing powers spread evenly between blocks because they are incentivized. This ensures that all blocks are extracted evenly and that the system throughput increases as the number of blocks increases. Another one says, miners choose the blockchain whose rewards and challenges are most suitable for their mining equipment. As per the next principle, miners benefit the entire system by pursuing their own self-interest. And the last principle says everyone shares the benefits of a successful transaction, allowing weaker miners to collect rewards without needing to join a mining group.

Zynecoin has developed and plans to implement a reward strategy for miners derived from the basic economic principles from the field of game theory. Miners who create or join groups will receive greater rewards than those who do not. This approach will increase the number of nodes and provide higher transaction speeds. Co-mining, based on game theory, is one of the central features of Zynecoin and makes it unique in the cryptocurrency market, not only in Africa but throughout the world.

Commissions earned on the Zynecoin blockchain are divided into three parts. So as per this calculation, the miners get 50%, state treasury funds get 25%, and last 25% goes to development aid for non-profit organizations that do not depend on government contributions.

About Zynecoin Tokens
The Zynecoin team expects an increase in the demand for tokens with both an increase in the number of applications created using the incubator and the number of their users. Utility tokens allow access to the services offered by the Zynecoin incubator, and can also be used for trading on exchanges. A limited number of tokens will be issued, without any additional emissions. It will also be impossible to destroy them. Tokens for the team, consultants and partners will be frozen for a safe period of time. Check out Zynecoin Whitepaper for more information.

Contact Info:
Name: Mossaab TAZI
Email: Send Email
Organization: Zynecoin
Address: 6 avenue Alphone XIII 75016 Paris, FRANCE
Website: https://zynecoin.io/

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