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According to a report from Africa, a separatist group of Cameron fighting for the independence of the self-declared state of Ambazonia recently launched a "state-supported" cryptocurrency called AmbaCoin.
The AmbaCoin project
According to the group, the function of money is to help "provide humanitarian aid to those affected by the conflict in the English-speaking regions with the hope of raising up to 250 million US dollars".
It is also expected that the creation of money will help to provide state support and serve as a permanent substitute for the official national currency of the Swiss Cameroon, – Franco CFA. The creation of the token will greatly help the company's agenda for maximum freedom.
According to a member of the AmbaCoin – Frank project, the coin launch is geared to helping with the humanitarian side of things. Frank, who is still unknown, has also made it clear that the funds raised will be used to support humanitarian efforts.
The project also developed a website to help with token sales. Through the website, an interested buyer can easily purchase some AmbaCoins directly from their dashboards.
Full details on the purchase of the currency have been described in the project whitepaper. Excerpt from the whitepaper reports:
"A supporter of Ambazonia can buy AmbaCoins through a dashboard on the website Users can use other cryptocurrencies like Bitcoin, Litecoin or Dash to make traditional transactions and currencies, including euros, dollars, CFA francs, rand or rubles. AmbaCoin therefore resides in an Ethereum digital wallet "
Digitized form of a treasure voucher
The white paper also announced that the currency will use the "stake test" for governance. As a result, the need to extract mineral resources is eliminated. The white paper also announced that the currency will also act as a "digital form of a treasury bill". These invoices will then be purchased by the embassy nation at the end.
