Cameroon is made up two parts English and French speaking. The English speaking part had been seeking their autonomy for many years now. Back in 2016 a strike action started which has led to a war in the the North West and South West regions of Cameroon. This has led to the name Ambazonia for the English speaking part of Cameroon. A group of separatist recently launched their own cryptocurrency know as the Amba coin.
What is the Amba Coin?
AmbaCoin is the cryptocurrency that aims to help the separatist state of Ambazonia achieve financial independence. With the advance the separatists try to break away from the African state of Cameroon. After Venezuela another “state” ICO. The public sale should start on time for Christmas.
The Ambazonia Independence
Ambazonia, or Amba Land, is a region in southern Cameroon that declared its independence from Cameroon in 2017 through the Southern Cameroon’s Ambazonia Consortium United Front. For quite some time there are civil war-like conditions there: The government does not recognize Amba land, the separatists, however, try to enforce their independence by force. The country splits up without social or economic progress.
The key benefits of AmbaCoin are that it is fully recognized by the Ambazonian nation and is backed by the Treasury. Over two million Ambazonians in diaspora will be encouraged to purchase these coins to assist in the process of building the newly founded nation-state. However, the second phase will involve using AmbaCoin as the first export service to offer the billions of Africans on the continent a safe and secure method of remitting money to their loved ones.
In order to enforce the secession of Amba Land or Ambazonia now on a currency level, wants a part of the separatists now their own cryptocurrency to life. The AmbaCoin, says the White Paper, has two main goals. On the one hand, the initiators want to raise capital in order to get their request for separation at the United Nations. On the other hand, the AmbaCoin will help to “build the economy of the country”. Furthermore, it should be possible for African residents to trade across borders without restrictions.
More About Amba coin and ICO
The AmbaCoin will create a platform through which Ambazonians can freely trade with the international market without unfair restrictions. Already, measures are underway to start the presale on 24th October with the main ICO scheduled to start on 24th December. Investors will be rewarded once the platform is launched with a listed price of over 4 dollars after having purchased it for only $0.25.
Join the nation building and help the world’s newest country rise to prominence.
As you can see from the whitepaper, the token should be based on the Ethereum Blockchain. Using smart contracts, the publishers want to control the distribution of tokens.
The consensus process is Proof of Stake, which publishers consider more efficient than Bitcoin’s proof-of-work mechanism. As an incentive for Amba-Coin-Hodler, the publishers are promising an annual bonus of five percent. The ERC20 token will eventually get its own wallet, but be storable on conventional wallets.
The public sale starts on Christmas Eve on the 24th of December.
Will you invest in Amba coin?