AmbaCoin
Development | |
---|---|
Initial release | 24 December 2018 |
Development status | In use |
Valuation | |
Exchange rate | US$0.25 |
Website | |
Website | ambacoin |
AmbaCoin is the official cryptocurrency of Ambazonia. 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. The Ambazonian Government claims that all profits go towards their independence struggle and humanitarian aid.
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, Ambazonian Dinar, Ambazonian Qwid and the West African Eco (provided it joins the ECOWAS along with the WAMZ if or once independence is attained).