Towns, cults, and groups have begun creating their own cryptocurrencies to be used within their groups, but very few are actually successful. The small rural farming town of Orania in South Africa has decided it’s time to upgrade its current currency and develop a digital currency built on the Quorum network from JP Morgan.
A Novel Idea Grounded in Apartheid Values
Unfortunately, many citizens in Orania still believe in white supremacy, but for a town out in the sticks this shouldn’t surprise anyone. These types of towns take longer to adapt to change and the older generations will cling on to familiarity for as long as possible. The small town currently uses a local currency called the “Ora”, which is issued by the town’s own bank – Orania Spaar-en Kredietkoöperatief. For now, it’s a little like monopoly money and the younger generation is working hard to make a digital version and bring the town into the 21st century. The Ora is pegged at a value of 1:1 with the Rand and the E-Ora will also follow the same pegging system.
Common Practice Amongst Separatist Towns
If you’re thinking that Orania is alone in making its own currency, you would be wrong. Scores of communities that wish to break away from the values of their country are building their own governments and launching their own currencies. Deep in Southern Cameroon, a separatist movement has created its own cryptocurrency that will be used until the region is allowed to break away and can create its own fiat currency. Dubbed AmbaCoin, the cryptocurrency is giving hope to citizens in the region. Elsewhere, the Marshall Islands are also cooking up their own cryptocurrency so they can cut all ties with the United States. The Marshall Islands is looking for freedom after the US tested nukes on several of the islands during WW2.
Other Towns May Follow
The E-Ora might have its roots deeply planted in Apartheid values, but as time passes these values will eventually drift away. Inside Orania the E-Ora is taking off, with most businesses accepting it. However, outside of the town only one restaurant currently accepts it – far from the adoption the founders of the token were hoping for. This highlights the impact cryptocurrencies and blockchain technology is having on the world; giving new hope to towns that want to become individual states. If the E-Ora becomes a huge success, we could see more towns with similar values start to adopt the currency in South Africa.