AmbaCoin explained

Currency Name:AmbaCoin
Image Title 1:Official logo of AmbaCoin
Initial Release Date:24 December 2018
Status:In use
Exchange Rate:US$0.25

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. 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]

As of the 18th of July of 2024, their main hub (transact.ambacoin.io) is currently a dead link.

Proposal

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).

Notes and References

  1. Web site: Atabong . Amindeh Blaise . Cameroon's Anglophone separatists have created their own cryptocurrency . Quartz Africa . 12 December 2018 . 25 November 2019 . 12 December 2018 . https://web.archive.org/web/20181212204756/https://qz.com/africa/1492745/cameroon-anglophone-separtists-create-cryptocurrency-ambacoin/ . live .
  2. News: 14 December 2018 . Ambacoin, la cryptomonnaie pour les séparatistes camerounais . Le Monde.fr . Le Monde . 25 November 2019 . 14 December 2018 . https://web.archive.org/web/20181214171128/https://www.lemonde.fr/afrique/article/2018/12/14/ambacoin-une-cryptomonnaie-pour-les-separatistes-au-cameroun_5397673_3212.html . live .
  3. Web site: Cameroun anglophone: l'AmbaCoin disponible à l'achat - RFI . RFI Afrique . January 2019 . 25 November 2019 . 2 January 2019 . https://web.archive.org/web/20190102025031/http://www.rfi.fr/afrique/20190102-cameroun-anglophone-ambacoin-disponible-achat . live .
  4. Web site: Jackson . Tom . 7 January 2019 . December in Africa: healthcare drones and Cameroonian separatist cryptocurrency . The Next Web . 25 November 2019 . 7 January 2019 . https://web.archive.org/web/20190107114836/https://thenextweb.com/contributors/2019/01/07/december-in-africa-ghanian-healthcare-drones-and-cameroonian-separatist-cryptocurrency/ . live .
  5. Web site: AmbaCoin a revolutionary cryptocurrency to assist the Ambazonian quest . 13 January 2020 . Ambazonian Crypto Currency AmbaCoin . en-US . 16 December 2018 . https://web.archive.org/web/20181216210235/https://ambacoin.io/ . live .
  6. Web site: Cameroon rebels issue virtual currency to fund independence . 13 January 2020 . www.aljazeera.com . 24 December 2018 . https://web.archive.org/web/20181224212600/https://www.aljazeera.com/news/2018/12/cameroon-rebels-issue-virtual-currency-fund-independence-181224172110496.html . live .
  7. Web site: Finnan . Daniel . 1 January 2019 . Cameroon separatists sell cryptocurrency as replacement for CFA franc . 13 January 2020 . RFI . en . 16 November 2019 . https://web.archive.org/web/20191116132328/http://www.rfi.fr/en/africa/20190101-cameroon-separatists-sell-ambazonia-cryptocurrency-replacement-cfa-franc . live .
  8. Besin-Mengla . Mendong Margaret . 2020-09-29 . Njangi: Pillar of Development in the Anglophone Regions of Cameroon . Journal of Humanities and Social Sciences Studies . 2 . 5 . 31–40 . 10.32996/jhsss.2020.2.5.5 . 240049753 . 2663-7197 . free . 24 May 2024 . 25 February 2024 . https://web.archive.org/web/20240225131117/https://www.al-kindipublisher.com/index.php/jhsss/article/view/470 . live .
  9. Web site: Njangi Sociality: Mobility, ICTs and Mobile Money Usages and Practices amongst Poor Rural Farmers in the Cameroon Grassfields . 24 May 2024 . 18 January 2024 . https://web.archive.org/web/20240118033534/https://www.imtfi.uci.edu/files/docs/2013/Nyamnjoh%20and%20Fuh%20-%20FINAL%20REPORT.pdf . live .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "AmbaCoin".

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