New Country Initiative in Egypt

by Marvin Dumont

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Ancient Egypt established itself as a formidable civilization that used silver, gold and other commodities as money. In modern times, people are searching for new forms of money as fiat currencies around the world diminish in value.

Local citizens are grappling with high inflation:

  • 2019: 13.9%
  • 2018: 20.9%
  • 2017: 23.5%

Egypt has a rapid increase in the currency supply. With a population of 98 million and unemployment rate of 11.4%, leaders are under pressure to improve the country’s economic and business climate.

Apollo Team recently met with officials, executives and influencers in Egypt, Niger and Malawi. The main objective of National Currency Initiative is to gain wider adoption of Apollo all-in-one currency (APL), where institutions, merchants and consumers use APLs for economic activity.

Commercial uses include medium of exchange, remittances and storage of value. Steve McCullah, director of business development, tweeted on Dec. 24:

Incredible meetings so far in Egypt. We have been more than impressed with their leadership. Egypt certainly has one of the most forward thinking governments around.

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Apollo (APL) all-in-one currency combines nearly all features of mainstream cryptocurrencies into the fastest blockchain in the world. Boasting features and advancements such as the first implementation of database sharding, as well as adaptive forging, atomic swaps, two-second blocks, encrypted messaging, decentralized marketplace, decentralized exchange, decentralized applications, and decentralized file storage, Apollo stands as the most feature-rich cryptocurrency on the market. And one of the most advanced.

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