New Cryptocurrency Launched by Newly-Formed Nation

Dec 13, 2018 at 21:13

A group of scholars and developers from Southern Cameroon have created a new cryptocurrency called AmbaCoin.

The move was said to be driven by the intention of the developers for the the Federal Republic of Ambazonia’s sovereignty to be recognized.

It can be recalled that the newly-formed nation founded by a separatist movement used to be part of Southern Cameroon, a region that was formerly under the United Kingdom

Based on the coin’s whitepaper, AmbaCoin will be in a decentralized public blockchain with a cryptocurrency backed by natural resources.

Ambazonia noted that it will also have a buyback policy that is guaranteed by the future Ambazonian Treasury.

Likewise, it is expected to provide funding for the ongoing building of the country and to fund an appeal to the United Nations, European Union, and African Union to recognize them as a free country.

It is also eyed to kick start the Ambazonian economy and provide an income for citizens.

“All sales of the AmbaCoin will be directed to fund the Ambazonian Cause, to assist Refugees & Internally Displaced Persons, to rebuild homes destroyed by occupying military forces, and to defend communities from the repressive regime of La Republique Du Cameroun,” the developers claimed.

With an ongoing presale, 1 AmbaCoin can be purchased for $0.25. It is also possible to purchase Ambazonian crypto bonds that are backed by AmbaCoins.