Gypsycoin
(Daniel Cioaba,"the king of Romanian Roma")

King of the Roma of Romania launches the world’s Gypsycoin

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Daniel Cioaba,  aka “the king of Romanian Roma,” has launched Gypsycoin, a digital currency that aims to become a popular tool of payment for Roma individuals as well as Roma business-owners and not only.

“Gypsycoin is based on the hidden potential of unity of a globally distributed community. Therefore, Gypsycoin has a great potential of users globally. At the same time, it is taken into account that Roma communities are closely related to each other. Therefore, the dissemination of this project will be done organically,” a statement on Gypsycoin’s official website says.

“The token has multiple utilities: community trading currency, funding of educational projects, long-term financial investment, charity funding and payments.”

According to the statement, two per cent of the benefits generated by the transactions conducted using the cryptocurrency, will be directed to fund charity projects in Roma communities, with emphasis on children’s education.

The symbol of the first gypsy currency is “the traditional Roma wheel in symbiosis with the circuits of an electronic board,” as per the World Congress of the International Roma Union, which first made the project known.

The digital currency was listed on BoggedFinance and saw x100 growth in the first 3 weeks.
During the same period, there are 1700 holders. The next step is to get listed on CoinMarketCap & CoinGecko and on Hotbit, a cryptocurrency trading platform that lists the world’s greatest number of cryptocurrency projects. The Gypsycoin project also aims to organise its first charity event where food and goods will be provided to people in need.

The Gypsycoin project is backed by an initial investment of 50,000 euros made available by Cioaba and his associates, Romanian TV Channel PROTV reported.

Cioaba, who lives in Sibiu, a city in Transylvania, located some 275 km north-west of Bucharest, is the son of the late Florin Cioaba, a Romanian Romani Pentecostal minister from an influential Roma family who proclaimed himself “International King of the Roma” in 1997.

Florin Cioaba used the pulpit to urge Roma to continue their education and for more rights for women.
He died in 2013 aged 58 and was succeeded as king by his son Dorin Cioaba (Daniel’s older brother.) Daniel Cioaba was crowned “King of the Roma of Romania”.

The Cioaba family have led Romania’s Roma since the 19th century. Roma started arriving from India in the 14th century and there are an estimated 8 million in Europe, with Romania having the largest community. Roma leaders say there are between one and three million Roma in Romania.

Interestingly,  Gypsycoin was founded in the same city where Romanian blockchain startup Elrond is based. Elrond, or EGLD, is a cryptocurrency developed by a local team of researchers, entrepreneurs and programmers. Romania, a country of 19.41 million people,  is embracing innovation.