Our daily activities are now completely focused on and driven by technology, which now includes a number of cryptocurrency options such as Bitcoin. With a similar idea in mind but a very specific goal, technology veteran and "mompreneur" Tavonia Evans decided to create and launch $Guap Coin – the very first initial coin offering (ICO) aimed at recycling wealth within the black community.
$Guap Coin breaks into the world of cryptocurrency with a focus on black-owned businesses and an ambitious goal of rewarding African American consumers for supporting black businesses, grassroots organizations, HBCUs and other black organizations. $Guap is a spendable token built on Etherean Blockchain Technology designed to "restore and expand 'Black Wall Street' larger than it ever was," according to its website. With $Guap every token spent will be distributed within a system that will fund black organizations and businesses and philanthropic efforts that also use the coin.
Research has shown that African Americans account for a large portion of spending power in the U.S., especially in regards to retail spending. However, the majority of spending in the African American community fails to support the black community in their local efforts, education, politics and economy.
"Customers who make purchases via merchant websites or offline in brick and mortar stores will be able to use $Guap for savings. Offline Merchants and Event organizers will have access to Beacon technology that automatically rewards patrons with $Guap tokens," the website reads. "$Guap will be the cryptocurrency that gives back, ensuring that not only will consumers save but they will have access to funds to build and thrive."
Evans is a mother of eight, a New York native and a Georgia resident. According to Black News, Evans has worked in technology for almost 20 years as a startup owner, developer, patent owner, and consultant to the government and a number of Fortune 500 companies. Evans has always had a great concern about the barrier between African Americans and the ability to support startup growth and initiatives within the black community.
Between Evans' $Guap Coin and Mandy Bowman's Official Black Wall Street app, we can work toward buying black and building black wealth.