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AmbaCoin

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AmbaCoin
Official logo of AmbaCoin
Development
Initial release24 December 2018[1]
Development statusIn use
Valuation
Exchange rateUS$0.25
Website
Websiteambacoin.io

AmbaCoin is the official cryptocurrency of Ambazonia.[1][2][3][4] It is said to be backed by the "rich natural resources" of the breakaway region.[1] The AmbaCoin was launched on in 2018, and the ICO was from December 2018 to 2019.[5] The Ambazonian Government claims that all profits go towards their independence struggle and humanitarian aid.[6][7]

Proposal Despite the AmbaCoin being a crypto currency, it cannot be used as an official currency due to many Ambazonians not having access to the internet, low internet literacy and lack of proper electricity infrastructure, as not everyone has access to electricity. Hence a new currency will be introduce, if independence is attained, for day-to-day transactions and business matters. Several names have been tossed around but nothing has been decided. Examples include: the Amba, Ambazonian Shilling, Amba Dollar, Southern Cameroonian Pound, Ambazonian Cowry (the historical currency that circulated in West Africa before the colonization of Africa), Njangi[8] [9], Ambazonian Dinar and the West African Eco.

References

  1. ^ a b c Atabong, Amindeh Blaise (12 December 2018). "Cameroon's Anglophone separatists have created their own cryptocurrency". Quartz Africa.
  2. ^ "Ambacoin, la cryptomonnaie pour les séparatistes camerounais". Le Monde.fr. 14 December 2018 – via Le Monde.
  3. ^ "Cameroun anglophone: l'AmbaCoin disponible à l'achat - RFI". RFI Afrique. January 2019.
  4. ^ Jackson, Tom (7 January 2019). "December in Africa: Ghanian healthcare drones and Cameroonian separatist cryptocurrency". The Next Web.
  5. ^ "AmbaCoin a revolutionary cryptocurrency to assist the Ambazonian quest". Ambazonian Crypto Currency | AmbaCoin. Retrieved 13 January 2020.
  6. ^ "Cameroon rebels issue virtual currency to fund independence". www.aljazeera.com. Retrieved 13 January 2020.
  7. ^ Finnan, Daniel (1 January 2019). "Cameroon separatists sell cryptocurrency as replacement for CFA franc". RFI. Retrieved 13 January 2020.
  8. ^ "Njangi: Pillar of Development in the Anglophone Regions of Cameroon".
  9. ^ "jangi Sociality: Mobility, ICTs and Mobile Money Usages and Practices amongst Poor Rural Farmers in the Cameroon Grassfields" (PDF). {{cite web}}: line feed character in |title= at position 83 (help)
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