Dallas, Texas--(Newsfile Corp. - December 5, 2019) - Alternet Systems, Inc. (OTC Pink: ALYI) today announced that Goldman Small Cap Research has published the initial results from a survey intended to validate and provide guidance on ALYI's African Crypto Strategy (more below on ALYI Crypto Strategy). The results are favorable and reflect a recent jump in crypto strategies in reaction to Twitter and Square CEO Jack Dorsey plans to move to Africa in order to advance a crypto strategy (more below on Dorsey plans). Based on the survey results, Goldman Small Cap Research reiterated a Speculative Buy and $0.09 price per share target for the shares of ALYI.
Goldman Small Cap Research ALYI Crypto Strategy Survey Result Highlights
Our 15-question survey sought to achieve 3 primary goals: Ascertain consumer knowledge and sentiment of crypto, confirm the current or potential use/investment in crypto, and generate indications of interest in a crypto offering tied to the ALYI project.
In a nutshell…Crypto has a mixed but generally positive sentiment among our respondents. It leapt higher when informed of the Twitter/Square CEO's move to Africa for 6 months and the huge opportunity digital currencies in Africa represent. Plus, there was meaningful potential interest in participating in an Initial Coin Offering (ICO) by ALYI and its partner to fund its prospective $300M electric vehicle project. Clearly, this is a huge positive for ALYI and prompts us to reiterate our $0.09 price target. Full survey results will be published in late December.
See the full report on Goldman Small Cap Research's website.
Twitter and Square CEO Jack Dorsey Crypto Plans For Africa
Twitter and Square CEO Jack Dorsey recently announced plans to move to Africa. Mr. Dorsey, the CEO of both companies has already been in Nigeria for a month meeting with crypto entrepreneurs. Dorsey has Tweeted about cryptocurrency and Square has launched a crypto division. Below are some highlights from a CNBC article reporting on Dorsey's plans include some analysts' outlooks:
Lisa Ellis, partner and senior equity analyst at MoffettNathanson, said an Africa expansion "fits tightly with Square's mission to empower the individual entrepreneur and drive financial inclusion."
"I can see products like Square's merchant working capital, and the ability to purchase bitcoin and do fractional investing, having significant applicability in Africa," Ellis told CNBC. "Someone still has to 'mind the store' at home, though."
The region represents the "future of payments," according to Macquarie senior payments analyst Dan Dolev. The move could be "very forward thinking" and an opportunity to learn that market in depth, he said. Dolev is also confident that Dorsey can manage both companies remotely.
"This could provide them with a strong perspective on Africa, and a first-mover advantage in a market that will likely be very dominant in payments over the next decades," Dolev said. "I don't see any issues, only opportunities."
ALYI African Crypto Strategy Highlights
The firm, IW Global (www.IW-Global.com) has proposed launching and managing an Initial Coin Offering (ICO) on ALYI's behalf specifically targeted at raising $100 million to fund infrastructure for electric vehicle production in Africa. ALYI has partnered with IW Global and ALYI's production and marketing partners in Kenya to form a new company (NewCo) with the specific focus of building a new, state of the art electric vehicle production plant. This NewCo will be a separate company apart from ALYI but exclusively contracted by ALYI for producing ALYI designed vehicles. The NewCo is the business entity that would initiate the proposed ICO. The funds would be dedicated to 1. Building the plant and 2. Funding the production of ALYI's vehicles. A successful ICO would permit ALYI to substantially accelerate and expand upon its existing $300 million in electric vehicle projects.
ALYI sees the same digital currency, payment, and investment technology and business practice leapfrog opportunity that it appears Mr. Dorsey is now pursuing. ALYI management also maintains that Africa holds higher potential for electric vehicle sector growth than any other region within the global electric vehicle market anticipated to reach over $550 billion by 2025. Africa is urbanizing at a rate that exceeds twice the global average. Car ownership in Africa is extremely low at only 2% per capita compared to 70% in the U.S. and 50% in Europe leaving tremendous room for growth. Shared riding has been a custom in Africa long-before phone apps made the rest of the world aware of the shared ride market. ALYI is betting on the rapid adoption of electric vehicles for the shared ride market in Africa and positioning to be the leader in the field of manufacturing electric vehicles for the African shared ride market. The shared ride market will likely grow through revenue and investment transacted via digital currency transactions.
While Mr. Dorsey has been in Africa for a month and considers extending his stay another six months, ALYI CEO Randy Torno has been in Africa for the past two years and has just committed to at least another year.
ALYI management plans to publish continued progress reports as the ICO strategy develops.
For more information, please visit: http://www.alternetsystemsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50451
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