FIC Exchange Plc

ficx.ng offers development minded individuals and institutions, a profitable market-based approach to supporting economically disadvantaged communities and small businesses across African communities Tokenization and Smart Contracts , among other things, allows for automation of access to finance processes, lowered barriers to investments in informal economies and improved transparency of the entire process These communities through legally registered Community Development Associations or Business Cooperatives are encouraged to apply for FICx Certification and participate in this funding scheme that injects otherwise non-existent sources of capital for community infrastructure finance such as estates , road construction, power, water , housing , commercial farming , processing plants , schools , hospitals, etc.

What FICx Platform Does?

• Transform community infrastructure into digital assets.
• Issue them as bonds to groups of investors.
• Raise long term, affordable and sustainable finance.
• Provide the life cycle management through smart contracts.

VALUE PROPOSITION

• Viable community infrastructure projects will be able to raise capital more easily, faster, and at a lower cost by fractionalization of asset ownership.
• For any type of community infrastructure financing including rural and urban roads , bridges , Energy , renewables, hospitals , schools , Real estate etc.
• It can be used in connection with new projects but also with the tokenization of existing projects.
• To create more liquidity among existing owners and make it easier to on-board new investors.

KEY FEATURES

• Accountability : Group consensus such that each project can only commit transactions to verified channels with features to manage KYC and AML.
• Democracy : Transactions and Payments are voted by the community as governed by the smart contract and are trusted based on authentication.
• Independence : Projects can have decentralized structures, require KYC from their members but still be compliant with the local laws and jurisdictions.

SMART CONTRACT

A self-executing contract with the terms of the agreement directly written into codes. The codes and the agreements contained therein exist across a blockchain network. This controls the execution of the project and makes transaction payments digitally trackable and irreversible.

TOKENISATION

The process of issuing a security token that legally represents a real-world asset” Each fractional token owner will have their own dashboard where they can , communicate , vote , conduct meetings on project implementation or funds disbursements, receive dividends , purchase more or sell their tokens, etc.

Project Listing Advantages :

• Access to a new class of financiers.
• Full control over simultaneous projects
• Eliminate time-consuming processes
• Reduce administrative costs and errors
• Wide selection of payment channels
• Traceability and reissuance of tokens

Who can List a Project for Funding ?

• SME Groups and Cooperatives, Community Development/Landlord’s Association, Financial Cooperatives, Micro Finance Institutions, NGO, Wards, LGA/Municipals, State and/or Federal Government.

COMMUNITY FINANCING GUARANTEES

• This will typically be provided by the Community leaders , Local Government Authority , Tax Collection Unit , Community Residents in Diaspora ( both local and Global ) , NGOs , Development Finance Institutions , FG/State Government Rural Development Funds.

COMMUNITY FINANCING GUARANTEES

• This will typically be provided by the Community leaders , Local Government Authority , Tax Collection Unit , Community Residents in Diaspora ( both local and Global ) , NGOs , Development Finance Institutions , FG/State Government Rural Development Funds.

FICX TOKEN PURCHASE CHANNELS

• As a global exchange , FICx Tokens can be purchase by corporates and individuals using normal currencies when approved by the Securities and Exchanged Commission of Nigeria.

  What is the Community Certification Procedure?

  • A Blockchain based on the biometrics of all the residents/businesses and their status ( both local and diaspora) as well as the properties/commercial interests , all created on a virtual digital map . The proposed community/business development projects are listed and verified by independent Financial Inclusion Specialists. To determine the commercial viability and value of each project token to be listed on FICx. Depending on the project, between 5 – 15% of the listed assets are to be initially purchased by the business group/community members before outsiders can purchase the tokens. Purchasers of Digital Asets on the FICx will have the value of their Tokens linked to the physical growth of the economy of the community or small business group. An annual repayment of funds realised from the Token sales are deducted digitally from the economic daily/weekly/monthly activities of the residents/businesses in the community/group as return on investment for the digital assets share holders.

  PROCEDURE

  • Payment of Onboarding fees to FICx to be submitted with evidence of the source of originating funds and ID of individuals for KYC.
  • Submission of all available legal and approval documents of the proposed projects, location sites drawings , contractor agreements and project business development plan where available.
  • Provision of the documentation of locally registered association or cooperative with details of the individual governing board members for KYC/AML.
  • The proposed community project is listed and verified by independent specialists to determine the commercial viability and proposed purchase value of each project token to be listed on FICx.

  PLATFORM OVERVIEW

  • In developing countries, there is a huge deficit in funding and financing for Infrastructural projects due to tight constraints and limitations of government budgets for recurrent expenditures. Ironically, many of these neglected infrastructural projects can contribute significantly to GDP and job creation if the required funds to develop them is accessible in a timely and transparent manner.   FICx is set up to provide a blockchain-enabled investment platform that makes it easy for the crowdfunding of funding infrastructural projects, leveraging smart contracts and smart tokens.   The FICx platform provides digitization of the end-to-end process across KYC, issuance, subscription, trading, dividends, and yields payments. FICx platform supports FIAT and CBDC currencies thereby promoting central banks’ drive for the adoption of their CBDC such as the e-Naira.