Unfiltered

The Black CryptoCurrency; Who Runs the Hood?

We have all heard names like Bitcoin, but do you know about the new kid on the block that goes by the name of $GUAP? A cleverly chosen name that has been frequently used in rap music for years. And, since rap originated from the black community, we can’t think of any other word which would have hit home.

This new currency is specifically designed for the black community. The $Guap is an ER20 token built on the Ethereum blockchain. It’s a token that is distributed throughout the system to fund new businesses. This philanthropic adventure was started by Tavonia Evans with hopes to regulate money within the black community. Investors who are part of the Guap Market, pledge to pass on their savings while gaining loyal customers.

The story of the founder starts out like this. She was a veteran who has worked in this field for the past 20 years. What got her started was that she realized that there had been recent movements regarding communities of color; there was a lot of social change and she found that this was the right timing to bring a financial change in it as well. The reason why she kept it limited to the black community only is because she wanted to alter the spending habits so they benefit them and not others who have no vested interest in their communities.

They way the cryptocurrency is affecting people is that it not only incentivizes patrons for supporting Black Owned Businesses but it gives them loyalty points of sorts depending on their relationship with the community. She believes that Loyalty creates longevity, and with this, the $Guap helps other to maintain their businesses so their community can continue to grow. If your people don’t have your back then who will?

The biggest challenge that Tavonia had to face was to make sure that she remains in compliance. The growth of the crypto is rapidly experiencing changes by the moment and its hard to constantly keep the strategies aligned.

How it works

It pretty simple, you go to the $Guapcoin.com website to participate in their ICO and purchase tokens. If you’re new and fresh, you can start out by reaching out to them for help. They provide layers of education to overcome the gap between the freshies who have just started out. You can also contact them as a group and they can arrange webinars so they can speak to larger groups. All the information regarding this set up in the website.

A word of advice from our empowering woman is that is not to overthink things. Whatever project you’re starting with, it is important to keep your anxiousness at bay. There’s a reason why most successful startups were started by young people who weren’t thinking about what they were getting into when they started. And, this just says a lot about what sort of mindset you need to adapt when it comes to starting new.

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Soha Ali

As vanilla as it sounds, a filmmaker in the making. Soha brings the irony out of the crypto world by contributing to the Unfiltered section of BlockPublisher. Email: soha@blockpublisher.com or contact the editor at editor.unfiltered@blockpublisher.com

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