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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.
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.
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.
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.
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.
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.
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.
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 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.
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 Q4/2018. 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Full stack software developer with extensive experience in Blockchain programming.
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.
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.
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.
Experienced operational and financial analyst, with particular focus on process improvements, along with establishment and management of B2B relationships.
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.
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.
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
An expert on local affairs and trade who is passionate about the development of the region, particularly technological development, international trade and marketing.
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.
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.
Plugged into all aspects of the venture, uses creative instincts and skills into achieve best possible aesthetic results.
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.
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.
Over 28 years Financial, Audit and Risk experience. Specialties: Internal Audit, Risk Management and Corporate Governance in an assurance (audit) and advisory (consultancy) capacity.
