Anglophone separatist scholars, technocrats and developers are set to launch their own cryptocurrency known as “AmbaCoin”. The cryptocurrency is said to be built by an anonymous group related to separatists of “The Federal Republic of Ambazonia” or Southern Cameroons who are striving for the recognition of Africa’s newest country.
The ‘Federal Republic of Ambazonia’ or ‘Southern Cameroons’ is a region in Africa which is self-proclaimed by Anglophone Cameroonians or the people belongs to various cultural backgrounds. These separatists are striving ‘Southern Cameroons’ to internationally recognized as Africa’s newest country.
AmbaCoin – A New Crypto in Africa’s Market
Quartz recently reported that the pre-sale for AmbaCoin has already been conducted until November 10, 2018 and out of 100,000,000 tokens, almost 20082 crypto bond of AmbaCoin has also been distributed. Following the sale, its public offering is scheduled to organize on December 24, 2018. During the pre-sale, one AmbaCoin was valued for $25 cents (circa 140 CFA franc). Just like other tokens, AmbaCoin is is an ERC20 crypto token, built on Ethereum blockchain. Furthermore, the developers sees more potential in AmbaCoin and ensure it is built with features like confidentiality, transparency and low transaction cost.
However, the launch of AmbaCoin didn’t appear on any of the bulletins yet, Chris Anu, head secretary for the Federal Republic of Ambazonia” posted ‘ a sample of cryptocurrency bond” on his social media wall, writing, “We are getting there folks”.
Additionally, Cameroon’s Anglophone secessionists are planning to create a “traditional fiat currency” for Ambazonia. Consequently, AmbaCoin’s website notes that such traditional fiat will be used to back the new cryptocurrency, AmbaCoin.
The primary aim behind launching own cryptocurrency in Ambazonia is to access the resources and wealth within the region by using AmbaCoin bond than what Francophone-led government of Cameroon is offering presently. With this mission, developers created the crypto bond of their new token in order to raise capital and increase ‘Amazonian’ economy.
AmbaCoin developer said that;
“Numerous Ambazonians in the diaspora and other stakeholders who want to see a prosperous Ambazonia, are unable to help provide foreign direct investment to the Governing Council,”