The rise of cryptocurrency to prominence has been nothing short of astounding. As cryptocurrency’s utility in the world of traditional finance remains under constant scrutiny by the trusted powers that be, this new kid on the block has emerged as something of a tool to bridge the economic gap on the African frontier, seeing increased adoption by the man on the ground as his payment method of choice.
SAFCOIN is a uniquely South African cryptocurrency firm based on the shores of Mossel Bay, with team members overseeing the firm’s finer details in multiple locations throughout the world. Having started out as a cryptocurrency for trade in 2018, the project skyrocketed to prominence as Africa’s first Proof-of-Work scrypt algorithm cryptocurrency; the first milestone of which many others followed.
At its core, cryptocurrency is a digital currency which records and regulates online transactions using a blockchain ledger. This vastly complicated blockchain uses decentralized technology which works independently of state interception since the ledger is managed by a series of computers which record transactions. While its core use remains to trade and invest, the potential of cryptocurrency in a rapidly transitioning world is insurmountable.
From the outset of its inception by founders, Neil Ferreira, Tony Ferreira, and Michela Ferreira, SAFCOIN held the vision of accessibility at its heart; the idea that cryptocurrency could be mobilised to improve the lives of Africans and the world at large.
With this in mind, the SAFCOIN project with their dynamic team of founders, embarked on a journey to bring cryptocurrency to the people by creating the SAFCOIN Eco-system.
The eco-system boasts an extensive range of functions, all linked to the SAFCOIN Mobile Wallet. From here, users are able to facilitate a number of transactional services, given the approach applied in the engineering of the project to make all its use cases and platforms fully integrated and borderless.
One of the major advantages of cryptocurrency is that transaction fees are cheaper, faster and significantly more inclusive than your regular FIAT or state-endorsed currency.
MOBIJOBS Freelancer Platform
It is upon this premise that SAFCOIN created MobiJobs; the continent’s very first gig economy platform to include crypto payments.
To facilitate the buying and selling of local skills for local freelancers, the platform unlocks limitless opportunities for a continent ravaged by unemployment.
The gig economy is founded on the principle of freelance or otherwise contractual or project-to-project work; a dynamic to which platforms like SAFCOIN’s crypto-inclusive MobiJobs acts as the all important intermediary, enabling sellers (freelancers, online workers and even physical workers)to list their skills, and small-to-medium businesses or individuals to shop for these skills on the site accordingly. Here, users are exposed to a world of limitless working options, gaining access to international job markets while saving on international transaction costs and payment fees of up to 20%.
In a post-Covid-19 world where stable economies have turned fledgling, the gig economy is teeming with the potential to return GDP outputs to their former glory. It fosters the ideal of the self-starter where one is no longer dependent upon the powers that be to be employed, but instead undertakes to create and initiate such opportunities.
Moreover, and while restrictions on international e-commerce supply and payments processes continue to bottleneck earning or selling internationally, SAFCOIN’s Cryptovalley multi-seller web platform coupled with their efficient crypto-to-crypto SAFPay payment gateway and mobile wallet, provides an innovative solution to making international sales accessible, easy and faster. Using the crypto-tailored payment gateway, crypto-to-crypto transactions are instant and cashouts are timeous, all while eliminating the challenge of exhorbitant transaction fees.
Cryptovalley.africa is at the forefront of crypto retailers on the African continent, offering a unique retail experience to buyers and sellers with crypto and fiat alike – but it does not end here. The e-retailer’s model is one which prioritises expansion beyond local confines, bringing local sellers and their merchandise to the world and putting convenience at users’ fingertips in an ever-changing e-commerce sphere.
SAFCOIN continues to be a beacon of light in the global effort to adapt to progressively digitised change, and they show no sign of halting. With a myriad of stints on the international stage behind them and many to follow, SAFCOIN is resolute in its feat to situate itself as a relevant and tenacious digital force to be reckoned with in Africa and beyond.