Abjcoin, the first Nigeria Blockchain solution specifically made for global payment transactions, and financial services, has gained 46% in a day, following the release of its wallet on Google play. The developers have also released an application to shop around 200,000 products with Abjcoin. The genesis or first block was mined in October, 2017. 9 million coins were pre-mined and sold during the ICO. There will be a total supply of 30 million coins. 30% of the funds raised will be used to setup the first block chain technology institute in Africa.
For securing the network, miners get a reward of 3% every month for every Abjcoin staked in the pool. A 2% referral bonus is also paid. The network uses proof-of-stake 3.0 algorithm. Abjcoin is currently traded in four exchanges (TradeSatoshi, CoinsMarkets, Satowallet & Stocks Exchange) and developers are negotiating with Cryptopia, CoinExchange, and Yobit for listing in March.
The Abj mobile wallet can be used to shop directly from wallet balance. The iOS version of the Abjcoin wallet and commerce app is expected to be released in the days to come.
By April, the first Abjcoin global commerce conference is planned to be conducted in Lagos and developers hope to install the first crypto currency ATM in Africa by that time.
Future plans include facilitating payment of utility bills, partnership with Nigerian post (NIPOST) to enhance merchant shippings, issue of debit cards, establishment of an exchange to trade AbjCoin against 30 fiat currencies, smart contracts facility, integration with bank accounts and establishment of a block chain technology institute in Africa.