A rural town in South Africa Northern Cape, Afrikaner community of Orania province established in 1991. According to CNN, it is all set to launch its own digital currency. Approximately stated that it is the town of 1400 people and controversially known as whites only community. It has been established on private land close to the Apartheid ended.
Therefore, a report suggests that there is no racial discrimination happens in Orania despite residents of traders and white farmers. Although, that its “foundational imperative to preserve Afrikaner culture effectively prohibits racial diversity”. The Constitution of South Africa is shielding the town in a proposal to be a self-sufficiency that creates its own fiat currency, the Ora.
The Orania chamber of commerce has printed the ora by its own and distributed through its central bank. However, it is not actually a currency but it is a token or voucher fastened to the rand of South Africa. It was announced in 2004 and allowances discounts when used.
Entering the World of Digital Currencies
Further, the “e-ora”, Orania’s is forecasting to create a virtual version of its currency. So, through an app user will be able to purchase e-ora from the central bank and via using them to trade from their smartphones. There is no expiry date for the digital version of Ora.