Micro, small and medium-sized businesses across the world face several challenges during the course of running their business. Securing capital investment through funding and bank loans is tougher for these businesses as compared to large-sized corporations. However, black-owned businesses find it even more difficult to operate and sustain. As a result of this, the global black economy despite having tremendous potential is in turmoil.
Last year, global black consumers spent nearly $5.3 trillion dollars, but the money circulated within the community for a mere 6.5 hours, as compared to more than 30 days for other communities. This year, the situation is worse in the wake of the coronavirus pandemic. Black businesses have been the worst affected section among the MSMEs which are already suffering due to the economic implications of COVID-19.
In this context, Sable Assent is introducing a solution to boost the global black economy through a dedicated currency for black businesses.
About Sable Assent
Sable Assent is a tech firm that has created a decentralized global ecosystem to support black businesses. It has proposed a dedicated digital currency, using which people across the world will be able to transact with black-owned businesses. With its solution, the company aims to achieve the following:
- Help the global black community to achieve financial independence and leave behind unemployment, discrimination, and poverty.
- Stabilize the economies of black countries around the world.
- Improve the exchange rate of devalued currencies in black countries.
Stressing on the importance of empowering black communities across the world, Sable Assent CMO Badi Oliver recently commented, ‘There has never been a better time in history to launch a currency for the adoption of the global black community.’
Sable Assent’s Solution For The Global Black Economy
Sable Assent’s decentralized ecosystem for global black communities is powered by its native digital currency called SAC1. This currency will act as a medium of exchange within the ecosystem. Consumers across the world can get hold of this token from the Sable assent website or participating exchanges, and use it to pay for goods/services to all businesses which are a part of the Sable Assent community.
SAC1 will simplify and ease-up cross-border transactions for global black-owned businesses. This will help them to be independent of the stringent, often unfair regulatory compliance of the traditional financial system, and scale up their businesses on a global level.
The company is also offering a digital wallet (available on Android and iOS) the purchase, storing, and trading of the SAC1 currency. To put it simply, the wallet will act as a vehicle that will support the transaction of SAC1 throughout the ecosystem. The wallet will be fully operational and available for public use within the next 60 days.
Eventually, all aspects of Sable Assent’s ecosystem are aimed to stabilize the global black economy, by empowering businesses in the community through a dedicated digital currency.
Empowering Global Black Businesses
Sable Assent has established strong partnerships with members of the National Black Chamber, and with 100,000 black-owned businesses in their network. Moreover, the company’s global banking relationships will ensure liquidity in more than 170 countries, thus assuring that the SAC1 can serve as a mainstream currency for businesses and consumers.
As a part of its mission to empower black businesses worldwide that do not have enough access to the traditional financial system, Sable Assent is also looking forward to rolling out loan programs to provide financial support for these businesses. Moreover, the company has also announced recently that it will set aside 2.5% of its profits to help non-profit organizations worldwide.
Sable Assent IEO on Latoken
Latoken recently announced the IEO of Sable Assent on its platform. Sable Assent’s IEO has been started from Jun 15, 2020 and will be live till Jul 17, 2020 on Latoken launchpad.
Ticker Name: SAC1
Token Type: ERC-20
Total Supply: 600000000
Initial Supply: 200000000
According to the Inwara report, Latoken is considered as the number one IEO launchpad in the world. Latoken has more than 140 offerings completed to date.
Note: Sable Assent’s digital currency SAC1 is now available for purchase on LAToken.com.
Company Name: Sable Assent
Contact: [email protected]