LUMI - The New Digital and Physical Currency

What is LUMI?

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Summary

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LUMI is a regional central bank currency issued in both physical and digital form that also has the intrinsic characteristics of a “stable coin”. This means that it functions as “money” in its most classic usage as:

 

1. a medium of exchange

2. a store of value, and

3. a unit of account

 

Currency long name:             African Kingdoms LUMI

Currency short name:           LUMI

Currency code:                           AKL

 

Issuing Authority:                    African Diaspora Central Bank (ADCB)

Legal Entity Identifier:           894500ZVOL3A9LO8LP28

 

Underwriting Characteristics:

As sovereign ‘hard money’ LUMI is underwritten by 100kWh of solar energy and pegged to 4 grains of gold (0.2592g).

 

Commodity Settlement:

LUMI circulates as a medium of exchange amongst its secondary market users and is settled by real commodity in the primary market.

 

Primary Market Value:        1 LUMI = US$15.96

                                                            1 LUMI = 100 kWh solar energy

                                                            1 LUMI = 0.2592g

 

Distribution:                              Global                               

Licensing Year:                         2014