Gypsy King Creates Global Gypsy Cryptocurrency For Roma Businesses
A Romanian ‘Gypsy King’ is hoping to unite his people by getting them to invest in the new cryptocurrency ‘GypsyCoin’ to carry out their financial transactions.
Daniel Cioaba who is the ‘King of the Gypsies of Romania’ says the new ‘GypsyCoins’ will cement the identity of his Roma people, and pledged that some of the profits from the project will help fund initiatives in the community.
Cioaba, who also heads the Romanian office of the International Romani Union, said he hopes the new cryptocurrency will become a popular tool of payment for gypsy-owned businesses and individuals.
In a statement, the World Romani Congress said: “Daniel Cioaba, President of the International Romani Union, Romania branch, is developing a new cryptocurrency project.”
Cioaba, who is also an evangelical pastor, hopes that ‘GypsyCoin’ will combat discrimination and xenophobia, as well as contribute to the social and educational development of Romani communities.
The official website of the project says that two percent of the benefits generated by ‘GypsyCoin’ transactions will be directed to charity projects in poor communities, especially with regards to early education.
The website calls GypsyCoin “The first concept of virtual art in Roma culture.”
“The ‘GypsyCoin’ token has several uses including community trading currency, financing of educational projects, long-term financial investments, charitable financing, and payments.”
Although specially created for the gypsy community in Romania and elsewhere, the cryptocurrency can be purchased by anyone and trading began in early August.
According to Romania’s ProTV channel, Cioaba said that approximately 1,600 people have already bought ‘GypsyCoins’ at an initial price of $0.00001.
Cioaba added that he is in talks with “gypsies who run shops and companies” to start accepting payments with the new token, whose logo represents “the traditional gypsy wheel in symbiosis with the circuits of an electronic board.”
Cioaba, who lives in the Transylvanian city of Sibiu, is the son of the late Florin Cioaba, a Pentecostal pastor from an influential Roma family who proclaimed himself ‘International King of the Gypsies’ in 1997.
He died in 2013, and his son Daniel Cioaba was crowned King of the Gypsies of Romania.
Meanwhile, Daniel Cioaba’s older brother, Dorin, inherited the title of ‘International King of the Gypsies’, which he uses to this day.
The cryprocurrency is listed on PancakeSwap, a decentralized finance (DeFi) application that is built on the Binance Smart Chain. The highest price the Gypsy Coin Pro has gone for is $0.0000015, which happened on Dec. 15, 2021.