This article was first published on ostdotcom - Medium
OST Partners With GMEX, Block Commodities and FinComEco to launch FACES (Feed Africa Commodities Eco-System) tokens powered by OST tech & the $OST token
OST blockchain technology enables any company or project to deploy branded cryptocurrency tokens backed by the market value of OST, on scalable utility block chains.
Today we announce our partnership with GMEX Group, Block Commodities, and FincomEco to blockchain enable the African agricultural market. This program has been many months in the making and we are thrilled to start sharing some of the details behind this extraordinary project.
Block Commodities Limited and Financial & Commodities Ecosystem (FinComEco) are a subsidiary of GMEX Group Ltd.
The collaboration facilitates the launch of a token-based ecosystem which will enable sub-Saharan farmers to deploy the profits from the sale of their surplus crops in the wider economy by being rewarded in FACES (Feed Africa Commodities Eco-System) tokens powered by OST technology and the OST token. Block Commodities Limited and FinComEco are endeavouring to build an ecosystem of -ecommerce partners featuring local vendors and service providers as well as medical and educational institutions, where the FACES tokens can be redeemed. The OST utility token enables any website, app, or marketplace to easily launch a branded token and integrate it into their business.
Block Commodities’ Executive Chairman Chris Cleverly said: “The sub-Saharan region tends to have fewer fungible currencies but higher interest rates, which outside agencies base on perceptions of Africa rather than its realities. This, with the region’s need for secure relationships to thrive, as well as its recent history of rapid technology take-up, means that Africa is likely to see the fastest blockchain growth.”
Chairman of GMEX Group and CEO of FinComEco, Hirander Misra commented: “The utility OST tokens enable consumer transactions to become part of the FinComEco and ...
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