Alternet Systems, Inc. (USOTC: ALYI) today announced that its ongoing hemp battery and hemp auto body development initiatives are included in the company’s plans to establish a major electric vehicle research and production facility in Africa. ALYI has initiated and continues to develop $300 million in electric vehicle projects in Africa targeting the shared-ride market. Through a partnership, ALYI has recently announced a cryptocurrency finance initiative intended to dramatically expand beyond its current $300 million electric vehicle developments in Africa.
The firm, IW Global (www.IW-Global.com) has proposed propelling and dealing with an Initial Coin Offering (ICO) on ALYI's sake explicitly focused at raising $100 million to subsidize foundation for electric vehicle creation in Africa. IW Global, a settled innovation firm with a wide broadness of experience spreading over undertakings for NASA and more has as of late executed different blockchain arrangements, has proposed propelling and dealing with an Initial Coin Offering (ICO) on ALYI's sake explicitly focused at raising $100 million to subsidize foundation for electric vehicle creation in Africa.
ALYI and IW Global have figured an association plan whereby, ALYI's generation and advertising accomplices in Kenya will shape another organization (NewCo) with the particular focal point of building another, best in class electric vehicle creation plant. This NewCo will be a different organization separated from ALYI however only shrunk by ALYI for delivering ALYI structured vehicles. The NewCo is the business element that would start the proposed ICO. The assets would be devoted to 1. Building the plant and 2. Financing the creation of ALYI's vehicles. An effective ICO would allow ALYI to significantly quicken and develop its underlying $300 million in existing electric vehicle ventures.
ALYI has as of late affirmed that in the not so distant future Goldman Small Cap Research is relied upon to give its underlying outcomes from a purchaser acknowledgment digital money review proposed to gauge the reasonability of a system to raise $100 million to grow ALYI's African electric vehicle technique and to correspondingly refine the methodology in light of the overview results.
ALYI management maintains that Africa holds a higher potential for eclectic vehicle sector growth than any other region within the global electric vehicle market anticipated to reach over $550 billion by 2025. Africa is urbanizing at a rate that exceeds twice the global average. Car ownership in Africa is extremely low at only 2% per capita compared to 70% in the U.S. and 50% in Europe leaving tremendous room for growth. Shared riding has been a custom in Africa long-before phone apps made the rest of the world aware of the shared ride market. ALYI is betting on the rapid adoption of electric vehicles for the shared ride market in Africa and positioning to be the leader in the field of manufacturing electric vehicles for the African shared-ride market.
Ethereum is the proposed underlying platform for the ALYI cryptocurrency launch.
The Ethereum platform and blockchain are the most reliable existing blockchain and are supported by the Ethereum Foundation, based in Zug, Switzerland and the Ethereum Enterprise Alliance based in the USA with members like Microsoft, Intel, Mastercard, UBS, BBVA, Banco Santander, among others. IW Global is experienced with Ethereum and has launched previous cryptocurrencies build on the Ethereum platform.
ALYI with its partners plans to soon announce a new company in Kenya that will be the target of investment and building a state-of-the-art electric vehicle research and development and production center. A separate business entity for managing the sale of cryptocurrency to fund the Kenyan business will be established within a European venue. A website on the overall initiative is planned to soon be launched. The website will include a whitepaper on the African electric vehicle development cryptocurrency.
ALYI management plans to publish continued progress reports as the ICO strategy develops.
For more information, please visit: http://www.alternetsystemsinc.com
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
Randell Torno
info@lithiumip.com
+1-800-713-0297
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