Jump to content

AmbaCoin

From Wikipedia, the free encyclopedia

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 Ambazonia Governing Council claims that all profits go towards their independence struggle and humanitarian aid.[6][7]

Proposal

[edit]

In 2018, AmbaCoin was created with the intention of being the official currency of Ambazonia. Despite the AmbaCoin being a cryptocurrency, 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; most residents have little to no access to electricity. Because of this, a new currency would have to be introduced if independence is attained, for day-to-day transactions and business matters. Several names have been suggested but none have been adopted officially. Examples include: the Amba, the Ambazonian Shilling, the Amba-Dollar, Southern Cameroonian Pound, Ambazonian Cowry (the historical currency that circulated along the coast of West Africa, mostly by traders and merchants, before the colonization of Africa), Njangi,[8][9] Ambazonian Dinar, Ambazonian Qwid and the West African Eco (provided it joins the ECOWAS along with the WAMZ if or once independence is attained).

References

[edit]
  1. ^ a b c Atabong, Amindeh Blaise (12 December 2018). "Cameroon's Anglophone separatists have created their own cryptocurrency". Quartz Africa. Archived from the original on 12 December 2018. Retrieved 25 November 2019.
  2. ^ "Ambacoin, la cryptomonnaie pour les séparatistes camerounais". Le Monde.fr. 14 December 2018. Archived from the original on 14 December 2018. Retrieved 25 November 2019 – via Le Monde.
  3. ^ "Cameroun anglophone: l'AmbaCoin disponible à l'achat - RFI". RFI Afrique. January 2019. Archived from the original on 2 January 2019. Retrieved 25 November 2019.
  4. ^ Jackson, Tom (7 January 2019). "December in Africa: Ghanian healthcare drones and Cameroonian separatist cryptocurrency". The Next Web. Archived from the original on 7 January 2019. Retrieved 25 November 2019.
  5. ^ "AmbaCoin a revolutionary cryptocurrency to assist the Ambazonian quest". Ambazonian Crypto Currency | AmbaCoin. Archived from the original on 16 December 2018. Retrieved 13 January 2020.
  6. ^ "Cameroon rebels issue virtual currency to fund independence". www.aljazeera.com. Archived from the original on 24 December 2018. Retrieved 13 January 2020.
  7. ^ Finnan, Daniel (1 January 2019). "Cameroon separatists sell cryptocurrency as replacement for CFA franc". RFI. Archived from the original on 16 November 2019. Retrieved 13 January 2020.
  8. ^ Besin-Mengla, Mendong Margaret (29 September 2020). "Njangi: Pillar of Development in the Anglophone Regions of Cameroon". Journal of Humanities and Social Sciences Studies. 2 (5): 31–40. doi:10.32996/jhsss.2020.2.5.5. ISSN 2663-7197. S2CID 240049753. Archived from the original on 25 February 2024. Retrieved 24 May 2024.
  9. ^ "Njangi Sociality: Mobility, ICTs and Mobile Money Usages and Practices amongst Poor Rural Farmers in the Cameroon Grassfields" (PDF). Archived (PDF) from the original on 18 January 2024. Retrieved 24 May 2024.


Stub icon

This article relating to cryptocurrencies is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=AmbaCoin&oldid=1260542702"