Cryptocurrency program to be tested in a Greek island
Greece has been under the weather for a long time but Agistri, a small Greek island widely considered to be a tourist haven, has been one of the hardest hit. To seek out a way to survive in this harsh time, and to keep the economy running, the policymakers have now fallen back on the magic of cryptocurrency to pull Agistri out of the crisis. The authorities have put a seal of approval to pilot a new cryptocurrency called "Nautiluscoin" with the hope that it would help pull the fragile economy on track. This virtual currency was initially made to help people who wished to make transactions....
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Perhaps a blockchain-based parallel currency could provide a solution to the Greek crisis and be an alternative for Greece, Forbes reports. Lee Gibson-Grant, founder of U. K. -based digital currency consultancy Coinstructors, recently met with the Mayor of Agistri, an island in Saronic Gulf with a population of around a thousand people. The Mayor has agreed to start testing blockchain technology solutions in the island. The single ATM on Agistri ran out money last week. The project is related to the Drachmae project covered by Bitcon Magazine in May. Proposed by CNBC contributor Brian....
Bitcoin has enjoyed a pivotal moment, thanks to the ongoing Greek debt crisis, which resulted in capital controls and an influx of funds towards the cryptocurrency. Indeed bitcoin prices have eventually landed back above the $300 mark, following a long period of consolidation around $220 earlier in the year. The prospect of shifting back to a potentially worthless drachma has led several Greeks to move their money to bitcoin, as some websites have offered bitcoin loans and investments while others offered to purchase Greek products using the cryptocurrency. This could allow Greek citizens....
Cryptocurrency can be an eye-candy and “love island” to some people. It feels and looks new, and most often than not, intriguing – if not provocative. Crypto easily conjures up heavy ounces of tech that may sound Greek to some people. Still, it’s something they’ve got to try because it tickles their fancy and, why […]
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Jersey Island is welcoming to Bitcoin. Jersey, an autonomous island of the UK, is a well established "tax haven" and besides tourism the island's economy is driven by financial services. This has lead to an increasingly affluent people on the cutting edge of financial and technological innovation. Naturally the island wants to secure its future in the emerging world of digital currency. A local campaign group, bit.coin.je, has recently been set up to pursue Bitcoin understanding and adoption on the island. The group is an alliance of Jersey-based businesses and entrepreneurs who foresee....