The Birth of The Lumi – an Introduction

DIgital-Currency600x400

The beautiful island nation of Xaymaca - present day Jamaica - is famous for producing pioneering and notable world figures who have initiated and contributed immensely to many fields of human endeavor.

We can easily recall the iconic pan-Africanist leader, Honorable Marcus Mosiah Garvey; the legendary Queen Nanny of the Maroons; the celebrated reggae singers Bob Marley and Peter Tosh, as well as the world champion athletes Merlene Ottey and Usain Bolt, just to name a few.

It may not come as a surprise therefore that now a small village in western Jamaica is poised to introduce to the world its most daring initiative in the form of a digital currency called THE LUMI - issued by the Central Solar Reserve Bank of Accompong, located in the sovereign Maroon dominions in the island of Jamaica.

The forward thinking that went into the creation of The Lumi was prompted by the alarming threat of climate change, the rising and crippling foreign debts of African countries, and the humiliating poverty level on the African continent in the midst of abundant natural resources.

In her capacity then as the African Union permanent representative to the United States of America, Her Excellency Ambassador Arikana Chihombori-Quao made a special visit to the Maroon territories of Accompong in 2018 and thereby recognised and designated them as the headquarters of the African Union’s Diaspora 6th Region - representing more than 240 million descendants of African people outside the continent of Africa.

His Excellency Chief Timothy E. McPherson, Chairman and Crown Vizier of the Economic Community of the 6th Region, and Accompong’s Minister of Finance and Founding Central Bank Governor, is the driving force behind the creation and introduction of The Lumi.

What is The Lumi?

It is a new digital and physical (official) currency of the town of Accompong in the Sovereign Territory of the Maroons on the Island of Jamaica, and it is issued by the Central Bank of Accompong.

The Lumi has been designated as the official currency of the Economic Community of the  African Diaspora 6th Region. It is also now the currency of both the State of the African Diaspora as well as the African Kingdoms Federation (AKF) and its Member Kingdoms (Nation-States). The AKF is the central 6th Region representative of the African continent.

Why is the currency called “Lumi”?

The name LUMI is from the word LUMINOUS, symbolising the Sun (Ra). The currency is backed by solar energy and other renewable energy. Solar energy is the best source of energy for Africa’s economic development and the protection of the environment.

Is The Lumi a physical currency?

Yes, this is a physical currency as well as a central bank digital currency (CBDC).

What Is a digital currency?

It is a digital representation of money which is transacted across the internet

How do I transact with this digital currency?

You will be required to sign up for a digital wallet to receive and send your digital money.

Is The Lumi a crypto-currency and what is backing it?

This is not a crypto currency. The LUMI is underwritten by 100KWh of solar energy and convertible to 4 grains of gold, which in weight, is equivalent to 0.2592 grams. The current value of The LUMI is: 1 LUMI equals US$15.96.

What is the advantage/difference of The Lumi over existing currencies?

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 described by its most conventional function and definition:

Money is a medium of exchange that facilitates economic transactions

Money is a store of real value

Money is a unit of account for the pricing of goods and services:

The existing old currencies are called fiat currencies, which do not satisfy the second criterion and consequently have become the cause of global economic turmoil. Whether it is circulated by physical notes or digital notes, fiat currencies have become fundamentally worthless as monetary instruments, going forward.

Who is the target and primary beneficiary of The LUMI?

The LUMI will facilitate a new era of economic growth and development cooperation between Continental Africa and the 6th Region. As the global African family enters the 4th industrial digital revolution (the RESET), the LUMI will be used to finance sustainable African industrialisation and ensure that African resources are used to advance the economic interests of Africans on the continent and in the 6th Region.

Where can I use the LUMI?

The Lumi was launched officially recently and there is now a major drive to roll out the currency in Africa and in her vast diaspora, and digitally. Promotional campaigns are already underway throughout Africa and the diaspora. African businesses and merchants globally are encouraged to accept the LUMI in exchange for goods and services, and thereby facilitate the creation of our own worldwide economy and economic sovereignty at the dawn of the 4th industrial digital revolution - the great RESET.

The LUMI originated from Accompong, Jamaica. The Prime Minister of the African Kingdoms Federation(AKF), Timothy E. McPherson, was instrumental in its inception. The framework for the LUMI was established within the Bank Act of Accompong in 2014, and in September of 2020 the LUMI was designated as the official currency of the Economic Community of the African Diaspora Sixth Region (ECO-6),

This established it as the first African regional currency to be issued. The Economic Community of West African States (ECOWAS) was expected to issue its regional currency, the ECO, at the end of 2020 but it has been delayed by the outbreak of the global coronavirus pandemic.

Stay tuned for more information on The LUMI and on the 6 Trillion Dollar Stimulus package for the African Diaspora, Africa itself, and the Kingdoms on the continent. www.thestateofafricandiaspora.com

Source: Afrikatu Kofi Nkrumah

 

Is Jamaica and the Wider Caribbean Rejecting the C...
The African diaspora determined to give Africa bac...
 

By accepting you will be accessing a service provided by a third-party external to https://caribnewsroom.com/

Subscribe

Latest Bloggers

Alethia Campbell
11 posts
Alethia Campbell is a second-year Integrated Ma...
Lou-Anique Hodges
10 posts
Lou-Anique Hodges is a 2nd year Integrated Mark...
Lee-Anna Webster
6 posts
Lee-Anna Webster has not set their biography yet
Kristen Francis
5 posts
Kristen Francis has not set their biography yet
Mark Purai
10 posts
Mark Purai has not set their biography yet

Calendar

Wait a minute, while we are rendering the calendar

Random Post

Travel & Tourism
Business
Germany has agreed to return to Nigeria priceless artefacts that were stolen during the colonisation of Africa. British troops looted thousands of artworks known as the Benin Bronzes from the Kingdom ...
Theo Chambers
15 April 2021
Caribbean News
By Savanna Berhmann - USA Today WASHINGTON – Legislation to create a commission to study slavery reparations for Black Americans cleared a House committee Wednesday in a historic vote&n...
Sharon Parris Chambers
03 October 2020
Travel & Tourism
Africa – October 1, 2020 — The world had better brace itself for the State of the African Diaspora (SOAD) which is steadily progressing its vision and which in late September announced its adopti...
Health & Wellness
MESSAGE OF THE DAY:"It is time to access the vast information resources in your soul, which has been guarded by mind control and misinformation of the downpressors for millennia. It is a new day to re...
Sharon Parris Chambers
13 October 2021
Travel & Tourism
In our series of letters from African journalists, Elizabeth Ohene looks at plans to build a state-of-the-art complex in Ghana to honour the pioneering US black civil rights activist William Edward Bu...
Mark Purai
06 April 2021
Travel & Tourism
It is no secret that Real Estate has been the greatest wealth builder with the least fluctuations in history. Real Estate is not just a hedge investment during the fall of the stock market but a solid...
Britany Forsythe
08 February 2021
Travel & Tourism
Caribbean News
Montego Bay, St James (February 8, 2021). Woman shot in church while worshipping. 87 year old grandmother shot dead in Kingston. A little four year old shot to death in Trelawny due to a family disput...
Guest
28 September 2021
Travel & Tourism
Malik Ambar is credited with the construction of the Janjira fort in the Murud region of present-day india Maharashtra. After its construction in 1567 A.D., the fort was the key to the Siddis resistin...
Theo Chambers
19 July 2020
Business
By Shelly Palmer I happened upon a relatively new employee dragging emails from his inbox into folders. I asked why and was told, “I’m just answering emails and getting stuff off my desk.” An empty in...
Sharon Parris Chambers
09 November 2022
Travel & Tourism
The Executive Chairman of Sandals Resorts International called on the young people of the Caribbean to tap into their creative genius, never to settle for mediocrity, and to keep betting on ...
Lou-Anique Hodges
19 June 2022
Business
Personal Development
Over the last decade, the respective governments have pushed vision 2030. Which is to make Jamaica the place to live, work , raise families and do business. While this is an idyllic situation, little ...
Alethia Campbell
27 June 2022
Travel & Tourism
Caribbean News
Hotels & Villas
I’m taking an evening walk through a winding, palm-lined avenue. I walk by a cinema and a French brasserie, a luxury goods shop, a cigar and rum lounge and an artisanal coffee shop. Families and ...
Sharon Parris Chambers
03 December 2020
Travel & Tourism
KINGSTON, Jamaica; November 30, 2020:  Efforts by various government ministries and tourism partners to introduce robust COVID-19 health and safety protocols to facilitate the safe re-openin...
Theo Chambers
29 August 2021
Health & Wellness
BY Theo Chambers I have had the opportunity to live a disease-free, sickness-free, headache-free life, for the last 72 years, except for my Quadruple Heart Bypass, which I had in 2015, due to the fact...
Theo Chambers
11 September 2020
Health & Wellness
Most, if not all individuals are familiar with Shea Butter, but the Shea nut Oil is not as popular, this very versatile aromatherapy oil is a marvel, it has all the benefits of Shea Butter in oil form...
Mark Purai
06 April 2021
Travel & Tourism
Your investment portfolio will experience volatility over time and will have periods of loss, even the most well-allocated portfolio.  The key is to diversify your portfolio with low or non-corre...
Sharon Parris Chambers
05 August 2022
Travel & Tourism
The Jah Jah Nyahbinghi Initiative and Conference is being held in collaboration with Mt Kailash Rejuvenation. The conference theme is Justice and Healing or Justice and Heaping (Jah Jah N I). The...
Travel & Tourism
Social Media
Business
Paris, Tuesday 27 April 2021. The Pan-African Journalists' Caucus was launched by the African Diaspora State on Tuesday 06 April 2021. At this inaugural meeting, the decision was taken to set up a ser...
Britany Forsythe
10 December 2020
Travel & Tourism
KINGSTON, Jamaica; December 09, 2020: Tourism Minister, Edmund Bartlett has been selected to chair a high-level Organization of American States (OAS) Working Group, which has been charged with th...
Lou-Anique Hodges
09 July 2022
Travel & Tourism
Business
Caribbean News
The Kingdom of Saudi Arabia is one of the world's top twenty largest economies. They have a G.D.P of Eight Hundred billion US dollars, which positions the country to always be seeking out new investme...
Kristen Francis
18 November 2021
Social Media
Business
There has been a growing interest in short videos, which has been adopted by almost every social media platform. YouTube has started sharing a regular “Shorts Report” to provide updates on what’s tren...
Lee-Anna Webster
10 November 2021
Social Media
Business
Marketing & Management Strategies
Investing in customer service is a powerful marketing strategy as loyal customers will help you acquire new customers, free of charge, by convincing prospects to interact with your brand. Their positi...
Travel & Tourism
OCHO RIOS, St. Ann, Jamaica; Monday, July 27, 2020: Employees of some of Jamaica’s leading tourist attractions have expressed gratitude to be able to return to work and told Tourism Minister Hon Edmun...
Sharon Parris Chambers
08 November 2022
Travel & Tourism
Montego Bay, Jam- Recognizing his work as an entrepreneur and philanthropist, Sandals Resorts International (SRI) Executive Chairman Adam Stewart was conferred with an honorary Doctor of Laws (LLD) de...