AFRO Dollars Local Currency
AFRO Digital CASH a new Super Power Community Currency to transform urban low-income neighborhoods, to reduce crime, create jobs, new businesses, homeownership
— Financial Future
CHICAGO, ILLINOIS, UNITED STATES, December 15, 2017 /EINPresswire.com/ — AFRO Dollars act as SuperDollars to transform communities to solve social and economic ills to eliminate extreme poverty by opening more local and new community-owned businesses in low-moderate income neighborhoods. The AFRO Dollar Mobile Cash is Digital Cash that creates a community wealth-effect by re-cycling and circulating more dollars in the neighborhoods by its economic stakeholders; the residents, small businesses, non-profits and churches and local government.
“Everyone has a cell phone”, stated Derric Price, the creator of the original A.F.R.O. Dollar, a paper currency and pioneer of the Local Currency movement in the United States. The AFRO Dollar Digital Cash makes your cellphone a Wealth Building Device (WBD). Your banking, bill payments, shopping, discounts coupons, church tithing, job placement, personal finance, lending and community economic analysis are all on one device and one digital platform called the Community Digital Financial Economic Platform. “This brings the unbanked, unemployed, small businesses, non-profits and residents to focus on a single purpose, the radical transformation of their neighborhood” stated Mr. Price.
The AFRO Digital Cash promotes a SHOP LOCAL and the POWER OF CHOICE of money campaign because shopping online does not create an abundance of local jobs. When you shop with local businesses, your money is re-circulated over and over and creates up to 75% more tax revenue to the community. Independent businesses raise the standard of living in your community because they take their profits and buy products and services from other local businesses, thus creating more tax revenues and jobs needed for the community to thrive.
Mr. Price explains “Each time the consumer spend their AFRO Dollars on purchases, Rewards Dollars are added to their personal Mobile Cash account and Loyalty Dollars are added to the local Community Fund”. The Community Fund provides payroll assistance to local businesses to defray cost of hiring the unemployed, and help non-profit organizations fulfill their mission in the community. The consumers and stakeholders may spend the additional Reward Dollars at the same merchant store or with other businesses on the platform.
Because the rewards, loyalty, and discount coupons are loaded and applied automatically, the AFRO Digital Cash becomes Super-Money, in most cases, $200 cash-spends like $250 dollars when money is loaded in their AFRO Dollar Mobile account. When shopping locally, their dollars stretch, because there is more money in their pocket therefore spending and savings increase in the community.
AFRO Dollar is a Social Enterprise FinTech company. Each AFRO Dollar is backed by a US Dollar. The AFRO Digital Dollar is not a Bitcoin, it is Digital Cash, which means it can be accepted anywhere, by any merchant as a real-time, instant, transactions, unlike Bitcoin.
“This process is part of a larger Community Digital Financial Economic Analysis Platform (AFRO Platform), where services for the residents and neighborhoods are provided one contact/platform for home mortgages, auto lending, banking services, small business and start-up lending. The AFRO Platform was developed by the African American Community Trust and the Company”, stated Mr. Price, where he creates community economic solutions, and disruptive financial products.
AFRO Dollar Inc
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