PRELIMINARY

Before we proceed into the topic of the day I’ll love to inform the newbies amongst the basics so as not to get them confused, the study and research of cryptocurrency has seen a rapid increase since bitcoin touched $20,000 in the fourth quarter of the year 2017, it has gained a huge popularity and interest of most individuals. Everyone wants to get rich with this invention but the mistakes most adopters make is that they don’t do thorough research to learn about all pros and cons before sailing, most people get burnt and blame others for their mistakes.

First I’ll give a brief explanation of what digital asset mostly called cryptocurrency means, a digital asset is any text or media which was configured into a binary source with an added right to use it. Satoshi Nakamoto created the very first digital asset known to man called bitcoin cryptocurrencies make use of an encryption protocol that pedals the generation of units and authenticates the transfer of digital assets in a matter of seconds, unlike the traditional banking which can take days sometimes months to deliver. Traditional banking payment methods are faced with various problems which include a long transfer time frame, chargeback fraud amongst others.

The advantages of using cryptocurrencies are numerous but I’ll mention a few as we proceed, adopting the blockchain technology is very necessary but one problem is that the old and elderly who do not have a high level of education might find it very difficult to maximize its usage. Not forgetting the children and youths who might have access to functioning mobile phones, laptops or internet connections to send and receive digital assets.

INTRODUCING AMBACOIN

#ambacoin is an Ambazonian cryptocurrency created for its economy, the new nation has approximately 8 million citizens living in the country. It is known for its rich natural resources reserve like gold, diamond, lots of agricultural produce, crude oil, mineral reserves, and many others. They intend to use funds derived to assist internally displaced persons (IDP) who might have lost their loved ones in the last terrorist regime.

With this adoption, payment could be sent and received in a matter of seconds. The blockchain technology is also known for its decentralized, cheap, anonymous, transparent, seamless and above all safe transaction executions. With the blockchain’s concealment of identities, the elite members of the society will be safe from dangers from their communities and the risk of getting robbed or assassinated.

#ambacoin is not the first cryptocurrency backed by a nation, we’ve heard of Iran, China, Venezuela (named Petro), and even India (named Lakshmi) who banned cryptocurrency exchanges and traders in their countries. Emcash is the first world government-issued digital asset that was successful, the Dubai government-backed cryptocurrency is accepted and used by all her citizens.

PROBLEMS FEARED BY MOST NATIONS

• Money laundering.
• Supporting criminal masterminds.
• Defrauding investors.
• Fear of dramatic decrease in coin value.
• Hacking attempts faced by exchanges.
• No government regulation.
• Fear of inflation.

ADVANTAGES OF USING CRYPTOCURRENCIES

• Fast and secure payment.
• Timely transactions.
• Anonymous transactions.
• Reduced transaction fees.

AMBACOIN USE CASE

#amba is an erc-20 compliant token because it was created on the ethereum blockchain, this blockchain was chosen because it executes transactions fast, low gas fee and its ability to execute a large amount of transition per second. It possesses the same use case as the FIAT (government issued currency.) of the nation of #ambazonia.

It is not just a cryptocurrency but a currency that can be used for literally anything. To preserve the #amba coin value and coin demand the team has a tactical protocol set in place, all unsold tokens will be burnt to reduce the total supply.

No other token will ever be minted, mined or created. There will be a periodical buyback and burn event by the post-independent Ambazonia treasury that is supported by all political parties of the nation. It wasn’t created for the citizens of #ambazonia alone but for #africans at large.

TOKEN ECONOMICS

NAME: AMBACON
TICKER: AMBA
NETWORK: ERC-20 COMPLIANT
TYPE: UTILITY
TOTAL SUPPLY: 1 BILLION AMBA
PRICE PER 1: $0.25c
PRICE PER ETH: 1 ETH = 1000 AMBA

TOKEN ALLOCATION

BOUNTY: 10%
TEAM: 10%
ADVISORY BOARD: 10%
ICO: 70%

AMBACOIN CONTACT INFORMATION FOR LATEST NEWS & UPDATES

♦ WEBSITE
♦ WHITEPAPER
♦ ICO CABINET
♦ TWITTER
♦ FACEBOOK
♦ TELEGRAM
♦ BITCOINTALK

ARTICLE PUBLISHED BY TIVERE AKPORODE

♦ BOUNTY0X PROFILE: TIVERE