AmbaCoin
This article needs to be updated. (June 2023) |
| File:AmbaCoin Icon.png Official logo of AmbaCoin | |
| Denominations | |
|---|---|
| Code | AMBA[1] |
| Development | |
| Initial release | 24 December 2018[2] |
| Development status | In use |
| Valuation | |
| Exchange rate | US$0.25 |
| Website | |
| Website | ambacoin |
AmbaCoin is the official cryptocurrency of Ambazonia.[2][3][4][5] It was launched in 2018, and the ICO was from December 2018 to 2019.[6] The Ambazonia Governing Council claims that all profits go towards their independence struggle and humanitarian aid.[7][8] It is said to be backed by the "rich natural resources" of the breakaway region.[2]
As of the 18th of July 2024, their main hub (transact.ambacoin.io) is currently a dead link.
Proposal
[edit | edit source]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,[9][10] 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
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