AmbaCoin

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AmbaCoin
Official logo of AmbaCoin
Development
Initial release24 December 2018[1]
Development statusIn use
Valuation
Exchange rateUS$0.25
Website
Websiteambacoin.io

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. ^ a b c Atabong, Amindeh Blaise (12 December 2018). "Cameroon's Anglophone separatists have created their own cryptocurrency". Quartz Africa. Archived from the original on 12 December 2018. Retrieved 25 November 2019.
  2. ^ "Ambacoin, la cryptomonnaie pour les séparatistes camerounais". Le Monde.fr. 14 December 2018. Archived from the original on 14 December 2018. Retrieved 25 November 2019 – via Le Monde.
  3. ^ "Cameroun anglophone: l'AmbaCoin disponible à l'achat - RFI". RFI Afrique. January 2019. Archived from the original on 2 January 2019. Retrieved 25 November 2019.
  4. ^ Jackson, Tom (7 January 2019). "December in Africa: Ghanian healthcare drones and Cameroonian separatist cryptocurrency". The Next Web. Archived from the original on 7 January 2019. Retrieved 25 November 2019.
  5. ^ "AmbaCoin a revolutionary cryptocurrency to assist the Ambazonian quest". Ambazonian Crypto Currency | AmbaCoin. Archived from the original on 16 December 2018. Retrieved 13 January 2020.
  6. ^ "Cameroon rebels issue virtual currency to fund independence". www.aljazeera.com. Archived from the original on 24 December 2018. Retrieved 13 January 2020.
  7. ^ Finnan, Daniel (1 January 2019). "Cameroon separatists sell cryptocurrency as replacement for CFA franc". RFI. Archived from the original on 16 November 2019. Retrieved 13 January 2020.
  8. ^ Besin-Mengla, Mendong Margaret (29 September 2020). "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. S2CID 240049753. Archived from the original on 25 February 2024. Retrieved 24 May 2024.
  9. ^ "Njangi Sociality: Mobility, ICTs and Mobile Money Usages and Practices amongst Poor Rural Farmers in the Cameroon Grassfields" (PDF). Archived (PDF) from the original on 18 January 2024. Retrieved 24 May 2024.


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