The king of the Roma operated his own cryptocurrency, gypsycoin

The Romanian, who claims to be the "king of the Roma", operated his own cryptocurrency, gypsycoin. It aims to facilitate financial transactions between Roma around the world. The Balkan Insight server informed about it on Tuesday, referring to the Romanian media. Evangelical pastor and head of the Romanian section of the International Roma Union (IRU), Daniel Cioaba, launched the cryptocurrency earlier this month. He told ProTV that he had invested 50,000 euros in the project and that about 1,700 people had bought the currency so far for an initial price of $ 0.00001 for one gypsycoin. Although the currency is intended primarily for Roma, anyone can get it. The official website states that two percent of the transaction fees will go to charitable projects in poor Roma communities, especially for the education of children. "Gypsycoin has several functions: it represents currency within the community, it helps to finance educational projects as well as long-term financial investments, part of the transfer fees goes to charity," the project website states. Cioaba, who lives in Sibiu, is the son of the late Florin Cioaba, a pastor of the Pentecostal church from an influential Roma family, who declared himself the "International King of the Roma" in 1997. After the death of his father in 2013, Daniel was also crowned "King of the Roma in Romania". The title of "International King of the Roma" later fell to Daniel's brother Dorin.