"ZUGACOIN itself is like I built an Estate of 1million houses with water and light but not furnished. ICO (Initial Coin Offering) means, the day that I want to start selling the houses in that Estate which the price will depend on the Exchange rate on the day you want to buy.
Bishop Sam Zuga gives details about Zugacoin
Archbishop Sam Zuga has unveiled his Cryptocurrency platform called Zugacoin which he said is intended to be used to alleviate unemployment in Africa.
"But Exchange rate of Dollar as at the time of advertising the property was $40,000 (Dollars), equivalent to N21million (Naira). But as Naira has kept falling before Dollar, the price keeps rising."
On Presale of Zuga coin he states, "presale is whoever is interested in buying any of the houses before the actual date of public sales. By this time, the actual price has been divided into 100 times less and you are paying to buy the whole flat with only one portion."
Archbishop Sam Zuga also maintained that membership registration is like when he announced that whoever that needs to reside in the estate should come with all their furniture.
"The quantity of your furniture will determine the number of rooms that would be given to you. If the quantity of your furniture is enough to fill a whole flat, you will be given a whole flat, if it's only for one room, you will be given only one room."
Zuga, a known philanthropist is always coming up with ways to empower people and Zugacoin is his latest way of doing that.
Zugacoin's ICO begins on December 1 as presales and membership registration closes on November 30.
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