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Crypto/ICO

Ever Wanted To Fund An African Coup? Here's Your Shot

Yonah Hochhauser
10 January, 2019
4 min read
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A separatist movement from the English-speaking region of Cameroon is looking to raise money through an ICO to help fund their attempt at independence. The group aims to create their own country called Ambazonia with the help of their AmbaCoin.
 

AmbaCoin. https://ambacoin.io/

AmbaCoin. https://ambacoin.io/

Their website claims, "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."

Ambazonia on a map. https://ambacoin.io/

Ambazonia on a map. https://ambacoin.io/

The Initial Coin Offering will last until December 24, 2019. The group claims that once it obtains political power, "the Ambazonian Government will buy back all AmbaCoin in circulation at the price purchased plus 34 percent interest." Investors be warned, this represents the same (potentially) empty promise made by hundreds of ICOs that the coin you are purchasing from them will have a higher value one day.
 

AmbaCoin is an ERC20 token running on the Ethereum blockchain,  backed by Ambazonia‚Äôs natural resources, such as crude oil, gold, diamond, and wood, among other commodities. Whether Ambazonia, their natural resources, or the coin will exist when you look to cash out remains to be seen.
 

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