Usecase
According to the World Bank latest Migration and Development Brief annual remittance flows to low- and middle-income countries reached a new record at $529 billion in 2018. At the same time the costs of sending money cross-border are still shockingly high. The global average cost of sending $200 sits around 7 percent in the first quarter of 2019, according to the World Bank’s Remittance Prices Worldwide database. Reducing remittance costs to 3 percent by 2030 is a global target under Sustainable Development Goal (SDG). Remittance costs across many African corridors and small islands in the Pacific remain above 10 percent. Using JamaiCoin the costs would drop to a little under 0.5%, a reduction of 95%!
What makes YAH unique
What makes YAH amazing?
As per Q1 2020 every month we will donate 10000 (TEN THOUSAND) times the monthly close (the price of YAH at the last day of the month at 12 AM) in USD to a community selected (Not for Profit) charity for the benefit of Jamaica.
The list of charities will be open for voting, where your voteweight depends on the amount of YAH in your wallet.
Example: YAH trades at $2 at the end of the month, we will donate $20,000 to charity.
As a holder of YAH you determine which charity. And by holding it, you are protected against the devaluation of the Jamaican dollar, which lost more than 60% of its value against the US dollar in recent years.
Functional
JamaiCoin (YAH) is a token on the Ethereum blockchain that presents itself as an inflation-proof alternative to the Jamaican Dollar.
It can be transferred on the blockchain, this means: fast, cheap and without the need for intermediaries such as banks or financial companies, and no one can confiscate or block them.
It's like traveler's checks but on the blockchain. At the same time, the supply of YAH tokens will never be inflated and is set from the start.
Integrated into several payments apps, it will allow you to send money all over the world within seconds.
Technically JamaiCoin is an ERC20 token on the Ethereum blockchain and it is already supported in almost all Ethereum wallets software, such as Metamask, Trust Wallet, MEW, Mist etc. We are tracked on the Delta App as well as on CoinGecko.
YAH is managed by smart contract:
0xc2856...
Buy YAH
To stay true to the spirit of trustless money, YAH will mainly be traded on decentralized exchanges where no passport or account is needed. If you want to buy YAH you can do so on the following exchanges:
Bamboo Relay, McAfeeDex, SwitchDex, UniSwap, LogicDex and ForkDelta. Or directly with your credit card.
Read more about JamaiCoin
Press
New Crypto aimed at Jamaican charity and remittance launches (LiveTokenWatch News)Our current stats
1200
Printed Payment Cards
20
Holding Wallets
30M
Max supply coins
11
Team
An average of 10 YAH per Jamaican. This max supply is fixed. No mining (=pollution).
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