The African Diaspora Central Bank has said the policy guiding the Lumi was designed in a way that gives the currency such value that world powers and financial Engineers applauded the Lumi and seek to replicate it’s policy.
One of the reasons why the Lumi may soon be a “sort for” currency is its underwritten strength at a time when the global community is battling with climate change and carbon emission.
The LUMI
Underwritten completely by solar energy and convertible into gold, the LUMI is now listed amongst the most valuable currencies in the world.
The Island of Xaymaca (Jamaica) is known for people who achieve superlatives: the greatest athlete in the world Usain Bolt, the most celebrated singer in the world Bob Marley, the great and historically most omnipotent royal throne of Queen Nanny of the Maroons, and the prolific pan-Africanist Marcus Garvey. So it should be no surprise that the strongest and most innovative currency in the world now comes from the sovereign Maroon territories on the Island of Xaymaca.
In 2018 the Maroon territories were designated as the official siege for the African Diaspora Sixth Region, representing more than 340 million people of African descent outside of the continent.
The framework for the LUMI was originally established within the Bank Act of Accompng in 2014, but the LUMI was designated as the official currency for the Economic Community of the African Diaspora Sixth Region (ECO-6) with full integration in the African Diaspora Central Bank (ADCB) and its member institutions, thereby establishing it as the first African regional currency to be issued. The Economic Community of West African States (ECOWAS) is expected to issue its regional currency, the ECO, at the end of 2021.
The LUMI circulates in 142 countries and will facilitate a new era of economic growth and cooperation between continental Africa and the Sixth Region. As the global African family enters the 4th industrial digital revolution, the RESET, the LUMI will be used to finance sustainable African industrialization and ensure that African resources are used to advance the economic interests of Africans on the continent and in the Sixth Region.
Digital LUMI
Powerful currencies within the Arab community, such as the Kuwait Dinar and the Oman Rial, have derived their distinct economic value through a correlation with petroleum energy. However, as the international community works together to decrease carbon emissions and man-made climate change, the LUMI puts the global African family in a strategic leadership position for the 21st Century.
Each LUMI is underwritten by 100 solar-kilowatt-hours of energy, and it is issued in both physical notes and digital denominations. For users around the world, digital LUMI can interface with smartphones, smart-watches, personal computers, and can interoperate with existing payment systems.
“The LUMI has already been applauded by financial engineers as a transformative instrument of monetary policy, and central banks around the world are quickly seeking to duplicate the LUMI currency framework. The governments of Denmark, Sweden, and China have begun testing digital currencies, and the US Feds are also considering issuing a digital currency in 2021”.
The unique strength and attraction of the LUMI is its classic approach to monetary instruments which stipulates that all currencies should meet the general criteria of ‘money’ as it is defined by its most conventional function and definition:
1. Money is a medium of exchange that facilitates economic transactions
2. Money is a store of real value;
3. Money is a unit of account for the pricing of goods and services;
“Fiat currency does not satisfy the second criteria and consequently has become the cause of global economic turmoil. Whether it is circulated by physical notes or digital notes, fiat currency is fundamentally worthless as a monetary instrument and has destroyed African economies both on the continent and throughout the Sixth Region”.
The LUMI, with its fixed nominal terms and universal accessibility, carries with it the fiscal integrity that belongs to real money. Each issued LUMI is underwritten by one hundred kilowatt-hours of solar energy. The currency valuation against gold-grains is a parity of 1-to-4, where one LUMI equals the market value of 4 grains of gold.
