Harapan Coin: Malaysian Cryptocurrency Token For Politics?
Harapan Coin claims to be the first digital token specifically designed to topple a national government. Find out what it’s all about today in our review.
What Is Harapan Coin?
Harapan Coin, found online at HarapanCoin.com, is on a mission to change Malaysia using cryptocurrency. The goal of the token is to raise money for the opposition party in Malaysia. The opposition party is seeking to topple the current governing coalition during the upcoming election.
The coin was launched, according to the official website, by “a group of patriotic and concerned Malaysian citizens, within and outside of Malaysia.”
The coming election, GE-14, is set to be of the biggest elections in Malaysian history. It could be the first election in 60 years to topple the power of the Barisan Nasional. Harapan Coin’s website makes a big deal out of the fact that it’s “the world’s first crypto-political ICO”.
The name of the coin comes from Malaysia’s second most prominent party called Pakatan Harapan, or PPBM. That party has been led by Mahathir Mohamad since January 2018. They won 68 seats, or 37.1% of the vote, in the last election, compared to 133 seats, or 47.38%, won by UMNO.
Harapan Coin supports Pakatan Harapan in GE14 as well as other general opposition efforts against the ruling party. It’s unclear if they’re officially connected to Pakatan Harapan, although the anonymous team does not claim to have any official connection.
What Problems Does Harapan Coin Seek To Solve?
If you’re not up-to-date on Malaysian politics, then you wouldn’t know that a political party called Barisan Nasional has been in power for 60 years. Over those years in power, the party has accumulated plenty of wealth while solidifying its hold over the country. The creators of Harapan Coin claim that the party accumulated power and wealth nefariously through corruption, cronyism, kleptocracy, and nepotism.
“Money always win in any corrupt system,” explains the official Harapan Coin website. With that in mind, Harapan Coin seeks to solve the following problems:
- Unlawful control of money
- Corrupt power
- Unfair influence
- Undue fear
The creators of Harapan Coin claim that the Malaysian government, under Barsian Nasional for the past 60 years, has used all of these tools to consolidate their power.
With that in mind, Harapan Coin wants to raise money to fund and finance the opposition movement.
How Does Harapan Coin Plan To Topple The Malaysian Government?
The country of Malaysia will hold its fourteenth general election, GE14 or PRU14, on or before June 6, 2018. The country’s current ruling party, Barisan Nasional (UMNO) has led the country for the past 60 years. Since 2009, Malaysian Prime Minister Najib Razak has been the head of that party.
Harapan Coin wants to mobilize the opposition against Razak and his UMNO government. To do that, Harapan Coin is collecting money through an ICO. That money will be used, generally speaking, to defeat the UMNO government in the upcoming GE14.
Malaysians and concerned citizens around the world are encouraged to contribute to the cause to “buy into a new change, invest in a new era of democracy, [and] participate and be part of a never-been-done before method of changing a corrupt regime to save a nation and its people in need.”
Harapan Coin doesn’t claim to support any specific opposition party. Instead, they define “opposition” as any company that isn’t the current ruling Barisan Nasional party:
“The “opposition” party in Malaysia shall be defined as a combination of political and non-political movement that shall provide a more focussed and centred coalition that, with proper and sufficient fundings, will be able to defeat the current ruling Barisan Nasional coalition and attain a more proper and just government that will ALWAYS put ALL Malaysians’ interest first.”
Why Invest In Harapan Coin?
So you’re a concerned citizen of Malaysia. Or maybe you’re interested in the Harapan Coin itself. Why would you buy the coin instead of just donating to your desired political party? What are the advantages of holding a Harapan Coin? The website for Harapan Coin advertises all of the following features:
All Harapan Coin transactions are recorded in an immutable ledger, allowing for auditable tracking from all users.
Harapan Coin isn’t just a moneymaking tool for the Malaysian opposition party. The website also hints that the coin has the “potential to become an official currency if Harapan wins election.”
A Better Future:
Malaysians seeking a better future can buy Harapan Coin today, then receive proof of their contribution to their country’s future. Each coin represents a contribution you made to the future of Malaysia.
Harapan Coins are “expected to rise in price”, according to the official website. The cryptocurrency will also play a crucial role during the opposition fundraising campaign. It will be used as a medium of exchange, for example, for various party expenses during the election.
Harapan Coin’s official website doesn’t explain this benefit in detail. However, they claim their coin is “creating opportunities for businesses and investments amongst their supporters.” It’s unclear what that means.
This is another vague line. The website mentions that the coin will have “a mechanism to promote Harapan using a digital coin, where voter will also be able to gain money.” What does that mean? I have no idea.
The main benefit of the Harapan Coin appears to be that it lies outside the traditional financial system, allowing backers to avoid working with traditional banking institutions. Malaysian banks have blocked money transfers in the past – possibly for political reasons.
Who’s Behind Harapan Coin?
The Harapan Coin team has all faced difficulties contributing to previous Malaysian elections. Namely, they tried to collect funds in a traditional way – only to have bank transfers blocked when they tried to transfer money to Malaysia.
Harapan Coin is led by Aziz M., team leader, who was responsible for collecting funds for a previous Malaysian election in New York. Before he could send those funds overseas, his money was frozen and only released after the election ended.
Other listed team members include Yi Ling (Marketing and PR), an Australia-based woman who transferred “a huge amount of money to Malaysia to help the opposition” for the previous election, GE13. The Malaysian Central Bank, however, halted the overseas transaction. There’s also Pathmanathan K., blockchain developer, Anthony R., web developer, and Awang Y, graphic designer. No other team members are listed.
All team members’ identities are kept anonymous. The team does not reveal their last names. Their profile photos are all blurred. Here’s why, according to the official website:
“Due to the Draconian laws of limiting and non-respecting individual rights to freedom of expression of the current BN government. For utmost security as not wanting to be tracked by BN Malaysia's special branch department, we have no choice but to blur our facial pictures.”
Harapan Coin Contribution Packages
You can purchase various Harapan Coin (HRP) contribution packages online today through HarapanCoin.com. Those packages include:
- $30 USD: 100 HRP
- $75 USD: 250 HRP
- $150 USD: 500 HRP
- $300 USD: 1,000 HRP
As of April 2018, the token sale is still ongoing. The company is seeking to raise a total of $257,750,000 USD prior to the June 2018 election.
Harapan Coin Conclusion
Harapan Coin is a digital currency specifically launched to support Malaysia’s opposition party. The digital currency aims to help the opposition party of Malaysia win the next election, GE14, which is scheduled to take place on or before June 6, 2018.
It’s not totally clear what kinds of benefits you get by buying Harapan Coins instead of donating directly to your desired political party. The website vaguely mentions coin holder benefits. They also suggest that if the Pakatan Harapan party gets elected that Harapan Coin could become an official currency for Malaysia. That seems unlikely.
The main benefit of Harapan Coin is that the currency is raising money outside of the boundaries of the traditional banking system. The team behind Harapan Coin has previously faced difficulties – including frozen accounts and blocked transfers – when moving money to Malaysia. They seek to avoid these problems for GE14 using Harapan Coin.
In any case, you can learn more about Harapan Coin and contribute to the Malaysian political revolution by visiting HarapanCoin.com online today.