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Africa's Currency

Whitepaper

Baracoin Crowdsale - Coming Q2/2018

Baracoin is a fast, cheap and secure digital currency backed by a 1:1 reserve of Euro (€). It is complemented by Baratoken, the key tool for Baracoin’s community and Universal Loyalty Program.

For more information, read our whitepaper or contact us at info@baracoin.io.

Community Focused

Spending Baracoin at participating merchants earns you Baratoken, which can be used to avail of discounts and other offers from Baracoin Merchants, as well as access to future services provided by Baracoin, including Peer to Peer Lending, Insurance and much more.

Secure

Our network’s security features provide peace of mind whether your Baracoin is in your wallet or mid-transaction, ensuring you’re never at a loss. We also have rigorous anti-fraud measures, including providing you with a Trustworthiness score for each merchant.

Fast

Powered by Stellar, Baracoin will be amazingly fast to use, with transactions clearing in 2-5 seconds. Baracoin and Stellar are officially partnered and dedicated to bringing high quality, affordable financial services to the continent.

Transparent

As well as keeping a live record on our website of Baracoin and Euro holdings, we will publish a daily bank statement for our Baracoin account on our website and we are committed to to regular 3rd party financial audits. We will also publish summaries of our agreements with merchants and other partners.

Fair Price

There is a 0.25% transaction fee for merchants, with person to person transfers costing 0.5%, regardless of distance and location. Individuals and Businesses will be able to use their Baratoken to reduce and cap these fees.

Stable

Each Baracoin is backed 1:1 with Euro, allowing you to redeem the equivalent amount of Euro from us or any of our growing network of partners at any time, and in your preferred currency.

Benefits of Baracoin


Cost of Transfering $100 (USD)

Baracoin

 
$0.50

M-PESA

 
$2.50

Bitcoin

 
$3.00

EcoCash

 
$5.16

Local Bank

 
$10.00

Cost of $100 (USD) Remittance to Africa

Baracoin

 
$0.50

Worldremit

 
$3.77

Moneygram

 
$6.11

Western Union

 
$6.37

Transferwise

 
N/A

International Banks

 
N/A

Average Transaction Time

Baracoin

 
5-10 seconds

Bitcoin

 
10 mins

Traditional Systems

 
3 days+

How Baracoin Works

You can buy Baracoin from our Mobile application, website, or from local Bara Network Merchants and Agents.

Each Baracoin is backed by an equivlent amount of Euro, allowing your money to hold it’s value compared to other local and digital currencies.

You can send Baracoin to friends and relatives, as well as make purchases with local and international merchants, in person and online, earning and availing of offers from these merchants and ourselves in Baratoken.

You can withdraw your Baracoin back in hard currency at any time, via the above means.

Baratoken Universal Loyalty Program

Baratoken is earned when a Baracoin user makes a purchase with a Bara Network Merchant. The user receives 0.1% of the transaction value in Baratoken based on the average price of Baratoken at that moment - this is automatically calculated by our application. The Baratoken can then be used to redeem discounts, rewards and other offers from Bara Network Merchants and ourselves.

Spend Baracoin

Earn Baratoken

Redeem Baratoken for Offers and Rewards

Roadmap

7/17
Baracoin Founded
8/17
Work Begins
Q1/18
Complete Prototype of Blockchain and App
Q2/18
Crowdsale Launch
Q2/18
Service Launch
End of Q4/18
100+ Merchants on Baracoin Network
Q1/19
Peer to peer Lending System and Insurance System Online
Q1/19
Launch of the first Community Development Programmes
Q2/20
Headquaters in all African Regions Established

Crowdsale Funding


Distribution

In order to fully fund our vision for Africa’s new mutually beneficial financial ecosystem and deliver on this vision in a reasonable timeframe, we will be hosting a Crowdsale. The Crowdsale is set to begin Q2/2018. It will last for 30 days, but terminate 36 hours after the softcap has been reached.

Our Crowdsale will sell Baratoken as an ERC20 token on the Ethereum platform via a smart contract which will take in Crowdsale funds and allocate Baratoken back out to Crowdsale participants proportional to their purchase. This Baratoken issued as ERC20 tokens will be redeemable for Baratoken on our main operating platform when the system goes live in Q2 2018.

Spending of Crowdsale Funds

Distribution of Bara Network Token

Expansion

Crowdsale funds will be spent on development, expansion and continent-wide adoption of Baracoin, with the 3 year smart contract escrow reflecting and facilitating expansion targets.

Percentage of Expansion Goals Met

40%

75%

100%

Africa Funding Africa Funding Africa Funding Africa Funding

The Team

Team Member Image

Dr Robert Munashe Maweni

MB BCh BAO, MCh Candidate

Chief Executive Officer

Multiple award winning Surgical Trainee and research author. Key interests are Global Health, International Trade and Blockchain Development with vast experience of leading international teams in both healthcare and non-healthcare spheres.

Multiple award winning Surgical Trainee and research author. Key interests are Global Health, International Trade and Blockchain Development with vast experience of leading international teams in both healthcare and non-healthcare spheres.
LinkedIn
Team Member Image

Hussein Jaafar

BSc(Hons) Biomedical Sciences, MSc, PhD Candidate

Chief Operating Officer and Chief Technical Officer

Research scientist and problem solver with key interest in Blockchain Technology, Cryptocurrency, Human Biology, Biochemistry and Neuroscience. Experienced in leading and organising teams for small and large projects.

Research scientist and problem solver with key interest in Blockchain Technology, Cryptocurrency, Human Biology, Biochemistry and Neuroscience. Experienced in leading and organising teams for small and large projects.
LinkedIn
Team Member Image

Joel Maweni

BBA Finance, MBA and MA International Finance, DBA candidate

Chief Strategy Officer Designate

Finance and Development Researcher with over 5 years of banking and finance experience in Africa. Director of an African microfinance firm and an author on Development issues, co-authoring several policy papers.

Finance and Development Researcher with over 5 years of banking and finance experience in Africa. Director of an African microfinance firm and an author on Development issues, co-authoring several policy papers.
LinkedIn
Team Member Image

Iphithule Mhlanga

ACCA Affiliate, MSc Accounting and Finance

Chief Financial Officer

Highly skilled, dynamic and customer focused Finance professional with Information Technology and Telecommunications experience underpinned by cross departmental experience in Internal Audit, Financial control, Finance Programmes, Consumer Finance, Investor Relations, Corporate Finance and Revenue Assurance.

Highly skilled, dynamic and customer focused Finance professional with Information Technology and Telecommunications experience underpinned by cross departmental experience in Internal Audit, Financial control, Finance Programmes, Consumer Finance, Investor Relations, Corporate Finance and Revenue Assurance.
LinkedIn
Team Member Image

Dr Shahram Shirazi

MB BCh BAO (Hons), BSc (Hons) – Information Systems

Chief Commercial Officer

Surgical and Accident & Emergency doctor with interests in Global Health and Blockchain Development. Has over five years prior corporate experience in project management, contracts management, UK corporate market legal affairs, finance, solutions architecture design & test automation with blue chip companies including multinational systems integrators and a top 5 global insurance company.

Surgical and Accident & Emergency doctor with interests in Global Health and Blockchain Development. Has over five years prior corporate experience in project management, contracts management, UK corporate market legal affairs, finance, solutions architecture design & test automation with blue chip companies including multinational systems integrators and a top 5 global insurance company.
LinkedIn
Team Member Image

Suhail Ahmed

M.Tech in Networking and Internet Engineering and B.E in Information Science and Engineering

Blockchain Programmer and Technical Advisor

A Technical Evangelist, Solution Architect and Business Enthusiast, whose area of specialization includes IOT, Blockchain, AI/Machine Learning, Real time embedded systems, 5G Design, Architecture, Aircraft e-enablement. He has 12 years of Industry and 2 years of academic experience which involves various roles in Motorola and Nokia Siemens Networks. Currently he is part of Emirates Airlines - Aircraft Engineering Unit.

A Technical Evangelist, Solution Architect and Business Enthusiast, whose area of specialization includes IOT, Blockchain, AI/Machine Learning, Real time embedded systems, 5G Design, Architecture, Aircraft e-enablement. He has 12 years of Industry and 2 years of academic experience which involves various roles in Motorola and Nokia Siemens Networks. Currently he is part of Emirates Airlines - Aircraft Engineering Unit.
LinkedIn
Team Member Image

Kudakwashe Maweni

BSc(Hons) Medical Laboratory Sciences, MBA

SADC Operations and Trade Director

Highly motivated problem solver with vast experience in Quality Management Systems and the Total Quality Management approach. Has interests in Customer Care and satisfaction, Brand Management and the use of social media use in customer attraction and retention strategies. Believes in teamwork as the most feasible way to achieve goals.

Highly motivated problem solver with vast experience in Quality Management Systems and the Total Quality Management approach. Has interests in Customer Care and satisfaction, Brand Management and the use of social media use in customer attraction and retention strategies. Believes in teamwork as the most feasible way to achieve goals.
LinkedIn
Team Member Image

Ferghal Mernagh

BSc(Hons) Genetics and Cell Biology

Operations and research manager

Experienced in project management and consultancy in the life sciences and vaccine sector, mainly working with developing countries. Combines interest in cryptocurrencies and information technologies with experience in consultancy to deliver excellent outcomes.

Experienced in project management and consultancy in the life sciences and vaccine sector, mainly working with developing countries. Combines interest in cryptocurrencies and information technologies with experience in consultancy to deliver excellent outcomes.
LinkedIn
Team Member Image

Kudzaishe Mhou

BSc (Hons) Computer Sciences, MSc Computer Science U of Johannesburg (in progress)

Software Developer

Software developer, computer scientist and research author with good problem solving skills and interests in computer security using biometrics. Experienced full stack mobile and web developer using languages such as Javascript, Swift, Objective C, Android Java,Php and C#. Very keen on solving complex problems that enable quantum leaps in the field of technology.

Software developer, computer scientist and research author with good problem solving skills and interests in computer security using biometrics. Experienced full stack mobile and web developer using languages such as Javascript, Swift, Objective C, Android Java,Php and C#. Very keen on solving complex problems that enable quantum leaps in the field of technology.
LinkedIn
Team Member Image

Nelson Gwavava

BSc (Hons) Business Information Technology

Programmer

System developer, with a high aptitude for recognising and solving problems with logical robust solutions. Equipped with knowledge of VB .NET, C++, C#, Java, Python, HTML, JavaScript, SQL and PHP programming languages, for software development.

System developer, with a high aptitude for recognising and solving problems with logical robust solutions. Equipped with knowledge of VB .NET, C++, C#, Java, Python, HTML, JavaScript, SQL and PHP programming languages, for software development.
LinkedIn
Team Member Image

Aravind Menon

Bachelor of Actuarial and Financial Studies, MSc in Computing (Machine Learning) (In Progress)

Financial Analyst

Actuary cum trader with experience working in top financial firms including JP Morgan and Susquehanna International Group. Has over one year involvement in cryptocurrency research and investing and has successfully built many investment portfolios.

Actuary cum trader with experience working in top financial firms including JP Morgan and Susquehanna International Group. Has over one year involvement in cryptocurrency research and investing and has successfully built many investment portfolios.
LinkedIn
Team Member Image

Enoch Tinotenda Maxwell

Bachelors of Law (LL.B)

Legal and Operations Advisor

A pathfinder, success oriented lawyer who thrives in new and challenging environment. He has a keen interest in International Business Law, Competition Law and Internet Law. Involved in research pioneering legal regulations pertaining to digital currency and blockchain in Africa.

A pathfinder, success oriented lawyer who thrives in new and challenging environment. He has a keen interest in International Business Law, Competition Law and Internet Law. Involved in research pioneering legal regulations pertaining to digital currency and blockchain in Africa.
Team Member Image

Richmond Mouti

Graduate Diploma of Association of Accounting Technicians (AAT)

Head of Operations: Botswana

Experienced operational and financial analyst, with particular focus on process improvements, along with establishment and management of B2B relationships.

Experienced operational and financial analyst, with particular focus on process improvements, along with establishment and management of B2B relationships.
LinkedIn
Team Member Image

Keith Taurai

BSc (Hons) Manufacturing Engineering with Management Science; ACCA and ACAMS (ongoing)

Head of Compliance

Extensive experience and proven track record, working with regulators across multiple US and EMEA jurisdictions and clients across both the private and public sector. Self-motivated and driven Audit/Compliance professional utilizing analytical, communication and problem solving skills whilst working in the Financial Services industry. Strong client management skills with a reputation for high performance.

Extensive experience and proven track record, working with regulators across multiple US and EMEA jurisdictions and clients across both the private and public sector. Self-motivated and driven Audit/Compliance professional utilizing analytical, communication and problem solving skills whilst working in the Financial Services industry. Strong client management skills with a reputation for high performance.
Team Member Image

Tinashe Mandimika

BA (Hons) Advertising

Creative Lead & Social Media Manager

Creative Art Director for Advertising and Creative agencies, including Saatchi and Saatchi, Publicis Chemistry, Havas Workclub and Golin Harris. Concepting digital and social content for Chivas Regal, Ballantyne’s, EE and produced high performing social engagement content for Mattessons.

Creative Art Director for Advertising and Creative agencies, including Saatchi and Saatchi, Publicis Chemistry, Havas Workclub and Golin Harris. Concepting digital and social content for Chivas Regal, Ballantyne’s, EE and produced high performing social engagement content for Mattessons.
LinkedIn
Team Member Image

Postane Mohale

Potsane Mohale - BSc(Hons), MSc Computer Science

Software Developer

Java software developer working on both mobile and enterprise technologies such as Spring boot, Hibernate, JPA, and Spring security. Also experienced in web front-end development, having worked with Angular 4 and JavaScript. Key interests are Artificial Intelligence and Machine Learning

Java software developer working on both mobile and enterprise technologies such as Spring boot, Hibernate, JPA, and Spring security. Also experienced in web front-end development, having worked with Angular 4 and JavaScript. Key interests are Artificial Intelligence and Machine Learning
LinkedIn
Team Member Image

Mellisa Machando

BCom International Economics and Trade (In Progress)

Business Partnerships and Trade Advisor

An expert on local affairs and trade who is passionate about the development of the region, particularly technological development, international trade and marketing.

An expert on local affairs and trade who is passionate about the development of the region, particularly technological development, international trade and marketing.
LinkedIn
Team Member Image

Daisymond Chiboora

BSc Computer Sciences and Software Engineering (in progress)

Junior Programmer

Ambitious and hardworking software engineering student with key interests in Blockchain Technology and Artificial Intelligence along with Information Security, Algorithm Analysis, Algorithm Calculations, Computer networks and Database management. A future leader in the African blockchain field.

Ambitious and hardworking software engineering student with key interests in Blockchain Technology and Artificial Intelligence along with Information Security, Algorithm Analysis, Algorithm Calculations, Computer networks and Database management. A future leader in the African blockchain field.
LinkedIn
Team Member Image

Bilal Mac

FETAC level 6 Business Management & Accounting, level 5 Business Law & IT and level 5 Marketing.

Operations & Research Manager

Vast practical experience in Event Promotion and Retail Management as well as a background in Information Technologies and Marketing, he is focused on bringing these skills and attention to detail to our team. His key belief is that the key to success within a company is teamwork and efficiency, for which he aims to bring managerial experience and a team ethos to our group while providing information on market research and helping to manage the base of operations in Dublin.

Vast practical experience in Event Promotion and Retail Management as well as a background in Information Technologies and Marketing, he is focused on bringing these skills and attention to detail to our team. His key belief is that the key to success within a company is teamwork and efficiency, for which he aims to bring managerial experience and a team ethos to our group while providing information on market research and helping to manage the base of operations in Dublin.
LinkedIn
Team Member Image

Steven Burke

BSc (Hons) Multimedia

Graphic Designer

Plugged into all aspects of the venture, uses creative instincts and skills into achieve best possible aesthetic results.

Plugged into all aspects of the venture, uses creative instincts and skills into achieve best possible aesthetic results.
LinkedIn
Team Member Image

Sheneece Mupandanyama

Creative Consultant

LinkedIn

Advisors

Team Member Image

Chief Makoni, Simbayi Gwasira

BA, Masters in Public Administration, Historian

Local Affairs and Integration Advisor

Chief of the Makoni people, based in the East of Zimbabwe. Brings key knowledge of the history and geopolitics of Africa to help the company navigate smoothly through the local landscape and bring products to market which will bring maximum benefit to the locals.

Chief of the Makoni people, based in the East of Zimbabwe. Brings key knowledge of the history and geopolitics of Africa to help the company navigate smoothly through the local landscape and bring products to market which will bring maximum benefit to the locals.
Team Member Image

Paul O’Hara

BA (Hons)

Public Relations and Marketing Advisor

Former Irish diplomat, previously responsible for briefing the President, Taoiseach (Prime Minister) and various Ministers, as well as holding roles in journalism and sports administration. Passionate about enabling Irish firms and ventures to showcase their full capabilities on the global arena.

Former Irish diplomat, previously responsible for briefing the President, Taoiseach (Prime Minister) and various Ministers, as well as holding roles in journalism and sports administration. Passionate about enabling Irish firms and ventures to showcase their full capabilities on the global arena.
Team Member Image

Brendan Darcy

CMIIA, CIA, QIAL

Financial, Audit and Risk Advisor

Over 28 years Financial, Audit and Risk experience. Specialties: Internal Audit, Risk Management and Corporate Governance in an assurance (audit) and advisory (consultancy) capacity.

Over 28 years Financial, Audit and Risk experience. Specialties: Internal Audit, Risk Management and Corporate Governance in an assurance (audit) and advisory (consultancy) capacity.
LinkedIn

Partners

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