Boomcoin FAQs

Boomcoin (BMC) is a unique cryptocurrency that derives its value from multiple utility. It is the only acceptable form of payment for fees, goods and services across the entire Boom ecosystem. Boomcoin is the native asset of the boom blockchain, the base currency of Boomswap that all stablecoins are traded and routed against and the medium-of-exchange for goods and services in the Boom superapp.

According to the world bank, 1.7 billion adults (including 1 billion women) in Africa, Latin America, South-East Asia, and certain parts of Europe and North America representing 35% of the world's adult population, have no bank accounts and are therefore excluded from the global digital economy. They are referred to as the unbanked.

Despite having an annual purchasing power in excess of $5 trillion, the unbanked are unable to buy and sell online.

With a clear mission to empower humanity globally, Boom enables financial inclusion for the unbanked, offering a comprehensive blockchain-based ecosystem that empowers everybody to transact online without banking.

At its core is the Boom blockchain and its native currency, Boomcoin enabling instant transaction settlements locally and across borders. The Boom blockchain is also home to the Boom superapp, which encompasses the Boom Marketplace for all goods and services, Boom Wallet for payments, Boom Talks for secure communication, and Boom Hose for community engagement. The third pillar of the Boom ecosystem is Boomswap, a self-custodial decentralised digital asset exchange which serves as the liquidity engine that enables consumers and merchants all over the world, to pay for goods and services across-borders, in their local fiat currencies.

Peter Alfred-Adekeye is the Founder of Boom and creator of Boomcoin.

Peter is a serial technology entrepreneur who started his career as an engineer at IBM in the UK, later becoming a technical leader at Cisco in silicon valley where he led a team that was responsible for maintaining the integrity of IOS, the software that ran majority of the internet. Peter left Cisco to found Multiven in Palo Alto as the world’s leading provider of independent software maintenance and cyber-defence services for the Internet. Peter led a series of successful legal battles with Cisco that eventually helped to set the internet free, paving the way for today’s safer and open Internet that has helped innovations such as blockchain technology to thrive atop it.

To create Boom, Peter drew on his deep knowledge of computer science, cryptography and engineering. He founded the Pingsta intellectual network for engineers, cryptographers, and scientists in 2007; its members included the late renowned cryptographer Hal Finney who was integral to the birth of bitcoin.

Peter holds a BSc in Civil Engineering from Obafemi Awolowo University in Nigeria and has completed Leadership Executive Programs at Stanford University in California. Source: https://adekeye.family

• Total maximum supply: 2 billion (All pre-mined)
• Global disbursement to Boomswap Liquidity Providers in 150 Countries: 1,50 billion
• Boom Team & investors allocation: 450 million
• Boom Foundation: 50 million

The Boom Team have full BMC lock-up period until 1st of January 2025.

As an EVM, the Boom blockchain is secured by Ethereum’s Proof-of-Stake (PoS) consensus mechanism.

BMC can be purchased p2p directly within the Boom wallet hATM network, on Boomswap and from liquidity merchant partners globally with cash, bank transfer or with crypto.

Boomcoin’s total supply is permanently limited to 2 billion and as such, it can be used as a store of value to hedge against fiat inflation.

Boomcoin can be exchanged for goods and services within the Boom superapp.

No, Boomcoin is politically and financially neutral.

To avoid the centralisation of Boomcoin within one market or jurisdiction, BoomDAO is distributing 75% of its total supply i.e. 1.5 billion BMC, to liquidity Providers at the rate of 10 million per country across 150 countries worldwide. This avoids centralisation and ensures that people in all countries benefit from its utility and created growing value.

Boomcoin has been labelled “the Bitcoin for everyday commerce” because of its multiple utility and limited supply.

Boom DAO is a decentralised community-driven organisation that oversees the Boom ecosystem which comprises of the Boom e-commerce super-app for the unbanked, Boomswap, a decentralised, self-custody token exchange and Boom Foundation, a non-profit focused on impact investments for social good using its grant of 50 million Boomcoins.