Is Digital Currency the Key to Black Wealth Building?

Man standing with arms folded
Dr. George Fraser hosts the annual Power Networking 2020 Global Virtual Conference October 28 – 30th.

Cryptocurrency and crowdfunding are going mainstream, offering a way to close the wealth gap and potentially eliminate the reliance on loans and traditional crowdfunding platforms. “The 21st Century is the New Black Power.” African Americans would be wise to get involved while this new form of global currency is in its infancy,” said Dr. George Fraser, entrepreneur, author, Chairman, and CEO of FraserNet, Inc. and the Powernet Conference.

 

Launched in 2017, Forsage Tron (TRX) is at the forefront of the movement, placing 13th out of more than 200 digital currencies. Forsage Tron combines cryptocurrency and crowdfunding to help maximize the digital currency’s income potential.

 

The Forsage crowdfunding is similar to GoFundMe programs but without the restrictions or administration fees. Crowdfunding platforms such as GoFundMe are 100 percent automated and controlled by users, whereas smart contracts are computer generated and cannot be regulated or canceled.

 

Forsage means “to give up or to relinquish,” which symbolizes the creators’ vision of building a decentralized financial system on the Internet and turning it over to users, essentially cutting out the middlemen. It allows individuals to control peer-to-peer transactions and build community wealth using smart contracts. “Cryptocurrency is continually evolving, the way the Ford Model T has grown to become today’s modern vehicles,” remarked Dr. George C. Fraser.

 

Digital currency is here forever. Just last week, Paypal announced it would begin using cryptocurrency on its platform of 346 million users. Also, the number of cryptocurrency ATMs locations has been increasing nationwide in the past two years. With hundreds of new machines added each month, there are now more than 7,700 cryptocurrency ATMs spread worldwide, with over 70% located here in the U.S.

 

The Forsage Tron platform, capable of conducting 2000 transactions per second, puts TRX on par with major payment processors, such as PayPal. Millions of dollars can be transacted anywhere in the world without paying fees to an intermediary.

 

“We are participating in the future of money globally,” predicts Fraser, “and it will last as long as the Internet.” According to Fraser, “this category of wealth will become an incredible legacy for our children and their children’s children.”

 

The creator’s objective is to increase the market value of the Tron and provide a very successful crowdfunding experience. With the recent completion of the Forsage Tron decentralized platform and the many merchants and users embracing digital currency,  the Tron’s value has the potential to increase exponentially over time.

 

The gift-giving programs similar to SouSou, which have become popular among African Americans during the pandemic, are crowdfunding platforms. However, they do not provide the security that the decentralized smart contract on the blockchain offers,” said Dr. Jekeitta Powell, Team Leader and Coach at U.S. Wealth Advisor.

 

“There is no human intervention in the Forsage Tron crypto-based crowdfunding platform,” according to Dr. Powell, “which means that every transaction is transparent, and no one can ever change the rules.” The platform offers peer-to-peer, immediate payments directly into the user’s digital wallet without the middleman.

 

Cryptocurrency is the “wave of the future” that is quickly gaining momentum in the African American and impoverished communities around the world. “Collectively, African Americans are wealthy, but don’t know it,” Fraser maintains. “Today, we can leverage our wealth through the Forsage Tron decentralized digital currency platform.”