Zynecoin And Blockchain Technology
Blockchain technology was created a little more than ten years ago in 2008 with the arrival of Bitcoin.
The Blockchain is a technology for storing and transmitting information without a control organ. Technically, it is a distributed database whose information sent by users and internal links to the database is checked and grouped at regular time intervals in blocks. The whole is secured by cryptography and thus forming a chain.
By extension, a blockchain is a distributed database that maintains a list of records protected from falsification or modification by storage nodes; therefore, a distributed and secure register of all the transactions made since the start of the distributed system.
Above all, it is essential to understand that cryptocurrencies are a bargaining chip and a technology, that of the Blockchain, the Web 3.0, that of value, a revolutionary universe. All cryptocurrencies do not develop their Blockchain, as Bitcoin and Ethereum have beautifully done.
In this sense and lineage, the Zynecoin, which brings immense innovations with great utilitarian values through its projects, is inscribed today. And soon, the Blockchain WETHIO. Indeed, the Zynecoin, through its global sale, will generate and drain capital in foreign currency to Morocco to finance the development of an African Blockchain to be called “WETHIO,” which means “exchanges” in Walof.
The Zynecoin will be the reference exchange medium within this secure and decentralized ecosystem of Blockchain WETHIO.
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Concretely, this means that once developed. The Blockchain WETHIO does not belong to anyone but all. Blockchain WETHIO is an open-source system, so many improvements can be made throughout its existence to make it even more efficient and operational.
Each of the actions carried out on the Blockchain WETHIO is recorded in a vast, tamper-proof, and irreversible registry, which will in the future considerably enhance security and reliability in many areas, including tax, administrative, notary, judicial, electoral, and property.
ZYNECOIN, beyond the development of the Blockchain WETHIO, aims to supplement an investment fund via a management company based in Morocco, whose role is to participate in the development of start-up companies with high growth potential. Headquarters is here in Africa, financing the seed capital they need. Seed capital is an essential element for developing prototypes, market tests, and the constitution of the operational team.
The role of the ZYNECOIN incubator is to select and support this type of project among the many proposals transmitted to it.
This first project is the development of the Blockchain WETHIO that meets the requirements and specific needs of the African continent. Blockchain WETHIO is a revolution in Africa’s financial flows and economic development.
This set of elements makes Zynecoin a project that positively impacts all players in the economy, the state, banks, and civil society, thanks in particular to the unique and original features of the Blockchain WETHIO, peculiarities to Africa and that we find in particular in the operations of “mining.”
“Mining” is the action carried out by volunteers who come voluntarily, securing transfers and maintenance of the Blockchain, WETHIO, thanks to powerful processors with high computing capacity. These “miners” are remunerated by what are called “mining commissions,” which are paid back on wallets (digital wallets) during transfers. For example, 100% of “mining commissions” on transactions are awarded to miners within the Bitcoin Blockchain.
In the Blockchain WETHIO, the distribution is different and takes place as follows:
- 50% of the commission goes to “miners.”
- 25% to the states to supply the Public Treasury fund and thus answer the problem of the information which is essential in the African countries.
- 25% to structures dedicated to development aid that will be able to find in this a sustainable source of financing and traceability and transparency guaranteeing good governance.
All this is just a tiny description of the immense potential and multiple possibilities that Zynecoin and the Blockchain offer today. The Zynecoin and the Blockchain WETHIO are highly favorable to Africa, and its development, initiated by a multidisciplinary team committed and housed in the heart of the ocher city, Marrakech.
We can only encourage a project such as this one, positive and valuable, and hope for Africa, its states, and most importantly, for Africans.