ALYI - Alternet Systems Highlights African Crypto Strategy After Twitter and Square CEO Plans Move To Africa
December 03 2019 - 12:37PM
InvestorsHub NewsWire
Dallas, TX
-- December 3, 2019 -- InvestorsHub NewsWire -- Alternet
Systems, Inc. (USOTC:
ALYI) today highlighted its ongoing African Crypto Strategy
after Twitter (TWTR)
and Square (SQ)
CEO Jack Dorsey announced plans to move to Africa. Mr.
Dorsey, the CEO of both companies has already been in Nigeria for a
month meeting with crypto entrepreneurs. Dorsey has Tweeted
about cryptocurrency and Square has launched a crypto
division.
A CNBC article reporting on Dorsey’s plans
include some analysts’
outlooks:
Lisa Ellis, partner and senior equity
analyst at MoffettNathanson, said an Africa expansion “fits tightly
with Square’s mission to empower the individual entrepreneur and
drive financial inclusion.”
“I can see products like Square’s merchant
working capital, and the ability to purchase bitcoin and do
fractional investing, having significant applicability in Africa,”
Ellis told CNBC. “Someone still has to ‘mind the store’ at home,
though.”
The region represents the “future of
payments,” according to Macquarie senior payments analyst Dan
Dolev. The move could be “very forward thinking” and an opportunity
to learn that market in depth, he said. Dolev is also confident
that Dorsey can manage both companies
remotely.
“This could provide them with a strong
perspective on Africa, and a first-mover advantage in a market that
will likely be very dominant in payments over the next decades,”
Dolev said. “I don’t see any issues, only
opportunities.”
ALYI African Crypto
Strategy Highlights
The firm, IW
Global (www.IW-Global.com)
has proposed launching and managing an Initial Coin Offering (ICO)
on ALYI’s behalf specifically targeted at raising $100 million to
fund infrastructure for electric vehicle production in
Africa. ALYI has partnered with IW Global and ALYI’s
production and marketing partners in Kenya to form a new company
(NewCo) with the specific focus of building a new, state of the art
electric vehicle production plant. This NewCo will be a
separate company apart from ALYI but exclusively contracted by ALYI
for producing ALYI designed vehicles. The NewCo is the
business entity that would initiate the proposed ICO. The
funds would be dedicated to 1. Building the plant and 2. Funding
the production of ALYI’s vehicles. A successful ICO would
permit ALYI to substantially accelerate and expand upon its
existing $300 million in electric vehicle
projects.
ALYI sees the
same digital currency, payment, and investment technology and
business practice leapfrog opportunity that it appears Mr. Dorsey
is now pursuing. ALYI management also maintains that Africa
holds 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. The shared ride market will
likely grow through revenue and investment transacted via digital
currency transactions.
While Mr. Dorsey
has been in Africa for a month and considers extending his stay
another six months, ALYI CEO Randy Torno has been in Africa for the past
two years and has just committed to at least another
year.
ALYI has
recently confirmed that later this week
Goldman Small Cap
Research is expected to
issue its initial results from a consumer acceptance cryptocurrency
survey intended to measure the viability of a strategy to raise
$100 million to expand ALYI’s African electric vehicle strategy and
to correspondingly refine the strategy in response to the survey
results.
ALYI management
plans to publish continued progress reports as the ICO strategy
develops.
For more
information, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release
contains forward-looking statements within the meaning of the
Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
expectation that any of the companies mentioned herein will achieve
significant sales, the failure to meet schedule or performance
requirements of the companies' contracts, the companies' liquidity
position, the companies' ability to obtain new contracts, the
emergence of competitors with greater financial resources and the
impact of competitive pricing. In the light of these uncertainties,
the forward-looking events referred to in this release might not
occur.
Alternet
Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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