Finance:AmbaCoin

From HandWiki

AmbaCoin is the official cryptocurrency of Ambazonia.[1][2][3][4] It was launched 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] It is said to be backed by the "rich natural resources" of the breakaway region.[1]

As of the 18th of July 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).

References

  1. ↑ 1.0 1.1 Atabong, Amindeh Blaise (12 December 2018). "Cameroon's Anglophone separatists have created their own cryptocurrency". https://qz.com/africa/1492745/cameroon-anglophone-separtists-create-cryptocurrency-ambacoin/. 
  2. ↑ "Ambacoin, la cryptomonnaie pour les séparatistes camerounais". Le Monde.fr. 14 December 2018. https://www.lemonde.fr/afrique/article/2018/12/14/ambacoin-une-cryptomonnaie-pour-les-separatistes-au-cameroun_5397673_3212.html. 
  3. ↑ "Cameroun anglophone: l'AmbaCoin disponible à l'achat - RFI". January 2019. http://www.rfi.fr/afrique/20190102-cameroun-anglophone-ambacoin-disponible-achat. 
  4. ↑ Jackson, Tom (7 January 2019). "December in Africa: Ghanian healthcare drones and Cameroonian separatist cryptocurrency". https://thenextweb.com/contributors/2019/01/07/december-in-africa-ghanian-healthcare-drones-and-cameroonian-separatist-cryptocurrency/. 
  5. ↑ "AmbaCoin a revolutionary cryptocurrency to assist the Ambazonian quest" (in en-US). https://ambacoin.io/. 
  6. ↑ "Cameroon rebels issue virtual currency to fund independence". https://www.aljazeera.com/news/2018/12/cameroon-rebels-issue-virtual-currency-fund-independence-181224172110496.html. 
  7. ↑ Finnan, Daniel (1 January 2019). "Cameroon separatists sell cryptocurrency as replacement for CFA franc" (in en). http://www.rfi.fr/en/africa/20190101-cameroon-separatists-sell-ambazonia-cryptocurrency-replacement-cfa-franc. 
  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. doi:10.32996/jhsss.2020.2.5.5. ISSN 2663-7197. https://www.al-kindipublisher.com/index.php/jhsss/article/view/470. Retrieved 24 May 2024. 
  9. ↑ "Njangi Sociality: Mobility, ICTs and Mobile Money Usages and Practices amongst Poor Rural Farmers in the Cameroon Grassfields". https://www.imtfi.uci.edu/files/docs/2013/Nyamnjoh%20and%20Fuh%20-%20FINAL%20REPORT.pdf. 




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