Romanian Daniel Cioaba, who heads the local branch of the International Roma Union and calls himself "the king of the Roma", introduced a cryptocurrency called Gipsycoin. According to the creator's plans, it is to become a transaction tool among Roma communities around the world. As you can read on the website, "Gypsycoin has many functions: to act as the Roma integration currency, to finance educational projects, long-term financial investments and charity, and to be a means of payment."
The project is designed to serve the entire Roma community – "not only by providing commercial and educational services but also by consolidating the identity element of a common culture."
It was added that 2 percent of the benefits of cryptocurrency transactions will be donated to the sponsorship of charitable projects in poor Roma communities, especially in the field of children's education.
Although Gypsycoin was created as the target currency for Roma in the world, it can be purchased by anyone – according to the Gypsycoin community website, "it is inclusive and open to anyone who shares the same moral values and ideals."
Cioaba announced that some 1,600 people have already bought "money" at an initial price of $ 0.00001, and the value of the cryptocurrency has increased by 1,000 percent in the first week. The "Roma King" added that he was persuading "Roma who run shops and businesses" to start accepting Gypsycoin payments.