Post on 05-Oct-2021
transcript
The existing payment-related digital asset
projects are focused only on the private
retail sector. For a true digital asset to play
a role, it must be available in the public
sector (e.g., utility bills such as electricity,
water, and gas, etc.) as a means of payment
function.
Currently, in order for Digital Assets to be
used as a means of payment in the public
sector, there is a problem that needs to be
overcome by various institutional and regu-
latory hurdles in the region, which is a diffi-
cult part for ordinary businesses to proceed.
Problem 2
Advanced United Continent
SummaryThe AUC is a project that
starts with the financially
underprivileged people in
Africa and East Asia and com-
bines blockchain technology
and cryptocurrency into the
global payment and remit-
tance markets to provide
relative solutions to users.
email : michael@ennovalabs.com
The digital payment market is expanding from offline to online, and there is an era of
digital transformation and transition to a cashless society. Currently, large global pay-
ment companies such as PayPal, Square, VISA, and MasterCard are participating in the
digital asset payment market, and as of July 2021, more than 10,000 'tradeable crypto-
currencies' have been registered on CoinMarketCap.
However, despite its potential, many Digital Assets, including Bitcoin, still have fatal
drawbacks such as rapid price volatility, slow transaction and settlement times, complex
remittance procedures, and lack of payment infrastructure to function as currency in the
real economy.
Problem 1
Digital Assets that are hard to use as payment and remittance methods.
Digital Assets that are difficult to apply to public sector payments.
The AUC project targets the unbanked people in the African continent for early-stage
business. In South Africa, where located in the Enova Foundation headquarter, we have
signed up for the International FinTech Working Group (IFWG) Financial Sandbox under
Reserve Bank. And Nedbank Group, Africa's largest banking network, also provides KYC
and AML operations and financial licenses for FinTech services of the AUC project.
Also, Nedbank Group has a responsibility of Depositor Protection Act for the Enova
Foundation's blockchain FinTech business. And en-Cash has been adopted as one of the
payment methods in wholesale and retail networks using Nedbank's payment network.
This means that the blockchain FinTech business of the Enova Foundation obtains a
financial license from the banking sector and the government to proceed with the proj-
ect, and then expand the ecosystem to East Asia, the Middle East, and Europe.
BAcquired a financial license in Africa, the test-bedof the AUC project, enables blockchain-based FinTech businesses to proceed.
Currently, 'TIER' and 'LEO' have
been developed and are operat-
ing services in Southern Africa.
TIER and LEO exchanges are
organically linked, and all partic-
ipating users in the AUC ecosys-
tem can easily use AUC tokens
and en-Cash points for overseas
payments and remittances using
TIER app and LEO exchange.
CSimple payment and remittance app "TIER," a key solution for the AUC project, and easy cross-country remittance through the digital asset transfer exchange "LEO."
D B2B and B2G businesses based on strong domestic and international partnerships.
Through the solution proposed by the AUC project, the above problems can be expected to be effec-tive below.
Expected effect
The Digital Assets of the AUC project
consist of an ERC-20-based ‘AUC’ token
and our digital point, ‘en-Cash’. AUC
tokens are implemented on a public
blockchain to ensure flexibility and reli-
ability as well as safety and transparency.
And en-Cash is an off-chain and is used
by participants in the ecosystem for
payments and transactions in real life
and as a means of remittance between
countries. AUC tokens and en-cash are
swappable on the crypto exchange.
A Enable easy payment and remittance using AUC’s Digital Assets.
In a strategic partnership with Nice Infor-
mation and Communication, South Ko-
rea's largest VAN company, the AUC proj-
ect is conducting a test project on the
application and utilization of blockchain
technology of existing banks, card com-
panies, and payment network businesses
by applying a private blockchain-based
ledger management DBMS developed by
the AUC project team. In addition, based
on the strong human infrastructure of
the parent company, Ennova Holdings,
which has run SI business for more than
30 years in the African continent, we are
conducting development orders with
local African countries and cities.
In January 2021 the Enova supplied a mobile Warrant of Arrest system for traffic
violators to Newcastle Municipality, Republic of South Africa, making it easier for
public organizations to access Digital Assets with the strong public government,
financial institutions, and VC partnerships in the B2G market, including utility bills
and fines.
Core Functions of AUC Digital Assets(AUC token & en-Cash points)
A
B
C
D
Overseas payments and remittances using Digital Assets through the simple payment.
Apply Digital Assets to existing POS systems (on/offline).
Digital Asset Exchange.
Digital Assets applicable to B2G business.
Token MetricsToken Name: Advanced United Continent (AUC)
Token Type: Utility and Payment
Standard: ERC-20
Smart contract address:
https://etherscan.io/to-
ken/0x87a92428bbc876d463c21c8e51b903f127d9a9f4
Total Supply: 6,000,000,000 AUC
Circulating Supply: 0 AUC
Project Company Name Ennova PTE.LTD.
Date of Incorporation Feb 2nd, 2021
Corporate Location Singapore
Whitepaper https://aucunited.com/auc_whitepaper_EN.pdf
Website https://ennovaglobal.com/
Token Usage : Participants use AUC tokens to pay and remit within the AUC ecosystem and en-Cash point can be swapped with AUC tokens on the TIER app and LEO exchange. TIER apps are now being linked to availability at wholesale and retail stores in South Africa using the payment network of Nedbank, a financial partner. Currently, the wholesale and retail network using Nedbank's payment network is as follows.
Stores that using Payment Network
2,500 stores in Southern Africa
2,000 stores in the Republic of South Africa
850 stores in Sub-Saharan Africa
500 stores in Sub-Saharan Africa
PEP
Shoprite
Ackermans
Cambridge(Massmart)
Nedbank has also decided to apply en-Cash, a
digital point of the Enova Foundation, to
enable depositing and withdrawing from Ned-
bank's ATM devices. The en-Cash deposit limit
is up to RND 40,000 (approx. USD 2,700 ) and
withdrawals can be made within the en-Cash
balance. It can be used as a payment method
within the daily payment limit of RND 4,000
(approx. USD 270) in wholesale network offline
stores using Nedbank's payment network.Like-
wise, the early ecosystem of the AUC project
will be centered on African Continent, and the
market will be expanded to East Asia and
Europe.
Token Sale Plan : N/A Token Sale Price : N/A
500 stores in Sub-Saharan Africa
45 stores in the Republic of South Africa
50 stores in the Republic of South Africa
150 stores in the Republic of South Africa
Dion Wired
Builders Warehouse
Makro
Game
In the AUC project, we operate official communities and social media channels for
global users, and we do our best to communicate transparently and quickly with
AUC ecosystem participants.
Community channel & Social Media
Search Advanced United Continent Project