There is a strong desire among many individuals and companies to make a positive impact and uplift people in Africa.
However, the reality of widespread fraud and corruption in the region makes potential philanthropists hesitant to donate, as they fear their funds will not reach those who need it most.
In addition, the African economy is currently struggling and in urgent need of a financial stimulus package.
INTRODUCING AN INCORRUPTIBLE SELF-REGULATED MONEY INSTRUMENT FOR AFRICA: THE COWRIE
with the purpose of narrowing the Gini coefficient, African countries having amongst the highest in the world and South Africa being the highest.
This is accomplished through the combination of a trust structure that is incorruptible and embraces radical transparency and democratisation, combined with blockchain, which is fully transparent and decentralised, and the birth of sustainable regenerative economies from the COWRIE which is released every year to the incorruptible Trust.
For the first time, legal and technology teams join forces so that blockchain’s potential can be fully harnessed and utilized for its intended use: immutability, transparency, incorruptibility.
The purpose of the COWRIE project is to ensure that Africa’s grassroot citizens are uplifted and that sustainable regenerative economies are built.
One of the overriding concerns for the project was how does the COWRIE protect the local community from a big crypto fall?
The COWRIE project’s innovative solution was to create the first ICO with a Money Back Guarantee.
This was made possible through the convergence of law and tech.
Money Back Guarantee
The way COWRIE accomplished this was by establishing an Escrow for the ICO which was managed by Schindlers Attorneys and regulated in terms of an Escrow Agreement.
The COWRIE will, on 15 March 2023, in partnership with OVEX, launch the first ever IEO with a money back guarantee using the same Escrow arrangement.
COWRIE holders can get refunded for purchases made during the COWRIE ICO or IEO at any time until 24 September 2049 at the price COWRIE holders buy (less any transaction fees).
The Incorruptible Trust
As a tribute to the number of years Nelson Mandela (affectionately known as Madiba) was in captivity, COWRIE will be released each year on Nelson Mandela’s birthday according to his prison number: 46,664,000 x 27 years.
30% of these COWRIE will be released every year to the incorruptible, radically transparent Trust.
What will the COWRIE owned by the incorruptible Trust be spent on?
The upliftment of South Africans with a focus on the United Nations’ Sustainable Development Goals, education and development, social infrastructure, healthcare, land and housing, technology, conductivity, women’s rights, welfare and humanitarian, religion, belief or philosophy and sports development.
The Trust will create a regenerative economy from the COWRIE that are released to the Trust every year
By way of example, the Trust will source workers from the MobiJobs Gig Economy platform, which is a platform where Africans can list their services for free (www.mobijobs.africa).
This platform’s moonshot goal is to be the go-to online jobs marketplace of Africa. It already exists, is owned by Virtual Nation Builders who built the COWRIE and will accept COWRIE by Q3 2023.
The Trust then pays the workers in COWRIE.
The workers that have been paid in COWRIE then use their COWRIE to buy anything from tea to jewellery from www.cryptovalley.africa. This platform also already exists, is also owned by Virtual Nation Builders who built the COWRIE and will accept COWRIE by Q3 2023.
In addition, workers will by Q1 2024 be able to use COWRIE at local Spaza Shops, play with FANTOKENS or buy NFTs.
How will the COWRIE uplift all Africans and not just South Africans?
Through the Targeted Airstrike Model, whereby anyone can nominate a community or a cause they want to support, and COWRIE can be airdropped into the wallets of the chosen community or cause recipients directly using peer to peer gifting with QR Codes.
This is all done transparently on the blockchain with no middleman, no corruption and all benefits go directly to the person who needs it the most. Please see the short 90 seconds explanatory video.
The COWRIE has a 27 year vesting period, paying tribute to the 27 years that Madiba was imprisoned.
Every year on the 18th of July, Madiba’s birthday, the COWRIE will be released according to Madiba’s prison number – 46 664 000.
A further protection has also been included which is a groundbreaking first of its kind – the South African Pump and Dump Officer (SAPD Officer). The SAPD Officer exists to safeguard the COWRIE project and especially avoid pump and dumps or market manipulations.
The SAPD Officer is the COWRIE project’s unique version of an IBCO curve type of smart contract, coded to look after a healthy release of key wallets from 28 July 2023.
The COWRIE offers staking rewards of 15% if you keep your COWRIE for a year.
Meet the Team of –
- blockchain specialists,
- specialist crypto advisor,
- metaverse builders,
- business and financial advisors, and
“I am so happy that the Cowrie has made the world of crypto accessible to all and that it will bring wealth to Africans. Through it, many will come out of poverty and communities will be set for growth.”
His Majesty King Makhosoke II
King of AmaNdebele Nation
“Support COWRIE and help South Africa thrive”.
Queen (Indlobukazi) Sethothali Mabhena
Queen on the Amandebele Nation
“The Cowrie is a powerful tool in Africa’s inclusive growth in the digital economy and the broader 4IR. The Cowrie is focused on financial inclusion which is a key factor in addressing poverty and promoting sustainable development. Leveraging a variety of tools and services to fuel local economies, I believe it will play a major role in improving the lives of people in Africa.”
Adam Craker. Adam is CEO of IQbusiness, the largest South African management and technology consulting firm.
The Trust’s Radical Transparency
To achieve oversight by the public, government and other institutions, the Trustees of the Trust must publish at a minimum on: www.radicallytransparent.org –
- The Trust Deed;
- The Trust and any entity in which the Trust has an interest’s management accounts;
- Details of all remuneration received by the Trustees and any directors/trustees of any entity in which the Trust has an interest;
- Details of all remuneration paid to any of the Trust’s contractors, including charges for legal and other professional services;
- The Trust’s monthly bank statements;
- All minutes of meetings of Trustees;
- Any complaints received from employees and disclosures made by whistle-blowers;
- The Trust’s annual financial statements;
- Bonuses to employees that exceed an amount equivalent to one month the employee’s monthly remuneration;
- Recordings of all meetings of Trustees; and
- Any information and/or documentation that would be in the public interest;
The Trust further embraces radical transparency and incorruptibility in the following ways:
- 50% of the trustees are required to be independent and currently comprises of a National Geographic journalist, attorneys and the like;
- journalists, government and community ambassadors shall be deemed to have an interest in the affairs of the Trust and shall have access to the Trust’s records, as though they themselves are Trustees;
- radicallytransparent.org shall at all times be independently administered by a third party;
- radicallytransparent.org contains a complaint procedure whereby anyone who believes that the Trustees are not complying with their duties can direct their complaint in writing and the complaint will be dealt with;
- the Trustees agree to subject themselves to constant oversight;
- the Trustees agree to be willing and able to absorb feedback and respond to it in a positive, non-defensive way; and
- the Trustees have the ability to deliver brutally honest feedback to others in a way that builds relationships rather than tearing them down.
 Paragraph 5 on page 12 to page 26 of the Trust Deed