What is BiafraCoin?
BiafraCoin (BFC) is a Blockchain platform for Referendum and Election Voting with an innovation of Electronic Voting using Blockchain Technology and Smart Contracts.
The Biafracoin ecosystem is a unique blockchain technology with BFC Tokens to run smart contracts for elections and referendum voting globally, Biafracoin “Peer to peer” network will allow citizens of each country run smart contracts on their computers or phone using BFC Application either in Referendums, Election Voting or Transfer of Tokens.
The transfer system of BiafraCoin is convenient and easy. The money transfer is available everywhere in the world within seconds, The transaction fees of Biafracoin is low. The transaction of Biafracoin is safe and anonymous. Each person is able to set a name or can be anonymous However the transaction can be checked by blockchain.
BFC is fully a peer-to-peer platform. The network conducts the issuing of bfc coins and tokens and process of managing transaction. BFC claims that nobody or any authority exists for it to control.
Biafracoin has all in one Smart Contracts Blockchain, Intelligence robot trade program that is potential to profit from the fluctuation of cryptocurrency in the market based on the feasibility.
Lending and Affiliate Program
Lending is to invest by your own BiafraCoin to get the return on a daily basis from the management of BiafraCoin. The highest return per month is up to 48% of user's investment.
BiafraCoin provides Investment options for users to get the full benefit as per their investment ability. In case that a user invests more than 1,010 Biafracoin, the guaranteed additional benefit will be added on to their daily return.
Users will deposit bitcoin on the platform to purchase BiafraCoin and lend it to earn a profit. Profit is determined by a volatility software. The affiliate program has 7 levels.
BFC's future plans include implementation of proof-of-work mining for BFC coin and curiously, “lobbying with the United Nations Department of Political Affairs Authorities to store election data on the Blockchain.” How exactly? Not so forthcoming on that.
No information is furnished as to who is behind the project except that it is someone from the UK.
BiafraCoin ICO Details
- Crowdsale – December 1, 2017 to December 31, 2017
- Hard cap – 9,000,000 BFC
- Total Supply – 29,000,000 BFC
BiafraCoin ICO Verdict
The project's value proposition is a referendum and voting innovation. Yet, its described functionalities morph into a blatant MLM Ponzi scheme which is strikingly similar to BitConnect. What masquerades as a ‘white paper' is little more than pleonastic patter.