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Eco-6 Lumi: A glance at how Lumi exchange may be implemented

Lumi or AKL as it is being called is the currency of the Diaspora 6th Region. According to the promoters and authorities of the region, Lumi is pegged against 4 grains of gold and underwritten by solar energy thereby making it economically strong against other fiat currencies.

The Lumi currency was first created to be used within the accompong Maroon Territory, a small island within the Jamaican  government jurisdiction. The accompong Maroon has a population of less than 5,000 people. 

These people claimed they were the first Africans to rebel or fight against the whites enslaving the blacks, and they gained freedom thereafter. McPherson, a native of the accompong town claimed they’re not under the Jamaican rule and which is why they ought to be using their own currency (Lumi) and not the Jamaican dollar.

Why was the Lumi adopted as ECO-6’s Currency?

Despite originating from a small territory like the accompong Maroon, Lumi was adopted by the Economic Community of the 6th African Region solely by the influence of it’s creator, Chief Semako I, Timothy Elisha McPherson.

McPherson is not just the brain behind the creation of the Lumi currency but also a great influencer for the actualization of the Diaspora Region.

McPherson was declared wanted by the Jamaican government because he introduced a currency that should be used by the people of accompong Maroon town and the Jamaican government considered this act as a treasonable offence thereby declaring it’s creator wanted.

McPherson didn’t give up on this fight, he knew it was time to overpower the Queen Elizabeth’s colonialism over Jamaica. So he exiled to Ghana where he traced his genealogy to the ashante kingdom, according to his interview on Arise TV in Nigeria.

The brave man fought his way to most African leaders including the President of Nigeria, Muhammadu Buhari. They supported his idea and in 2019 a treaty was signed establishing the Diaspora Region by the African Union.

Why is the Lumi given to Africans free as Stimulus for three years?

The truth is that, this programme is a win-win situation and not just to help vulnerable Africans move out of poverty. Why? Well, new currencies take time and alot of promotional efforts to be accepted by the people. So if one million people holds Lumi, they would certainly want to spend it thereby making it easier for the promotion. For instance, if you have lumi and I have lumi, it will be easy to convince the third person that Lumi is genuine currency. 

So giving stimulus to millions of people is actually another way of promoting the Lumi.

How is the Lumi exchange going to be like?

Just like every other digital currency, Lumi’s case may not be different.

If you want to exchange Lumi, you will have to meet someone who needs the currency to receive from your wallet and pay you cash at hand.

If you want to pay for certain products or services, you will have to meet someone or merchant that is also a user of the CBDC wallet, you will transfer to them and pick the product you have paid for.

Or banks will pay you cash and collect the digital Lumi from your wallet.

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Written by T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog.
Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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