Striving to be a National Currency
by Marvin Dumont
Apollo Foundation is aiming to have Apollo all-in-one currency (APL) to be adopted as national currency, first in Africa then beyond. That means a national government, institutions, merchants, and consumers widely use APLs for economic activity including transactions, remittances, sales, deposits, and storage of value.
That’s a tall order because it will require a historic shift in monetary policies, as well as greater smartphone adoption. But it’s achievable in the African continent where there are a few hyper-inflationary economies.
Steve McCullah, director of business development, said:
Big strides taking place with Apollo Africa. Great Botswana trip [earlier this month] and big meetings planned for the near future. All while new Decentralized Apollo Banks are going up. Apollo is determined to boast the most aggressive Africa cryptocurrency initiative.
Here are inflation rates in the region:
- Zimbabwe (75%)
- Sudan (44%)
- Liberia (23%)
- Sierra Leone (17%)
- Angola (17%)
In this economic environment, many producers stop manufacturing goods (including essential items) because they won’t get paid in a currency that has economic value.
You can learn more about Apollo 2020 via links below:
Apollo (APL) all-in-one privacy currency combines features of mainstream cryptocurrencies in an unregulatable platform. With two-second block speed, APL is one of the fastest cryptos on Earth. “Apollonauts” use features such as Encrypted Messaging, Smart Contracts, Decentralized Exchange, Dapps, and Decentralized File Storage.
Learn more at www.apollocurrency.com
