Trestor's €2,000 Crypto Loans Could Beat Bitcoin at Aiding Greece
The India-based Trestor Foundation — maintainer of the Trestor digital currency — has offered all “credit-worthy” greekss a loan for 2,000 euros’ worth of trests. Greeks can sign a promissory note at one of three partner locations in Greece, and the Trestor loan becomes repayable “when capital controls are lifted.” Holders of trests can exchange the tokens for euros at the partner locations, but some merchants have begun to accept trests directly, removing the need for users to convert to euros. “One of our investors convinced his pharmacist to accept trests because the pharmacy declined....
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Trestor is a technology non-profit company whose mission is to create the most efficient International service for money, payment, and markets. The Startup is focused on providing a global and accessible money and payment system with over 575 retail partners located across 66 countries. Trestor Network, or T-net, is a decentralized peer-to-peer network. Just like many other cryptocurrencies, anyone who wishes to contribute computation and bandwidth resources can become an active node and help run the Trestor network. Much like any other cryptocurrency, the network doesn`t need to report to....
Moving towards its mission to create an efficient money, payment, and market system for the unbanked, Indian startup Trestor has partnered with the Cameroon government. With this partnership, Trestor aims to deliver last mile services in the southwest African country. Trests — Trestor’s digital tokens — are decentralized, private, freeze-proof, faster to transfer, and don’t need any transfer fees. The government of Cameroon selected Trests for this project after the success of Trestor’s previous partnership with Socapssi, a Cameroon organization that works to bridge the gap between the....
Greece has never been accused of being an economic savant over the last generation. Using the Drachma for the 3rd time from 1951 to 2001, it's value declined to the point where Greece joined the E. U.'s new multi-national Euro system in 2002. Greece followed up with three distinct recessions in each year from 2007 through 2009. This required a massive bail-out in 2010, and "austerity measures" ever since for the citizens to live up to, while the bankers who caused the issues continue to mismanage the economy unabated, asking for more loans as we speak. These consistent economic issues have....
Greece faces a €1.5 billion payment to the IMF expires on June 30, and to make matters worse The Eurozone portion of Greece's €245-billion bailout expires on the same day. This huge debt and interest is totally unsustainable for Greece to maintain and Greece has no more to give. This could mean Greece exclusion from the Eurozone. Would it be a good idea for Greece to renounce the euro and adopt bitcoin? This would mean giving up their sovereign monetary policy. However, the finance minister of Greece, Yanis Varoufakis, believes that because Bitcoin is deflationary, it would be bad for....
While practical Bitcoin applications continue to gather speed in the developing world, a Canada-based businessman has been quietly working on an alternative he says addresses many of the current challenges facing the market. Kunal Dixit, owner of Toronto bioinformatics company QualCount, has designed his Trestor protocol and accompanying token, Trest, to provide a new form of liquidity to the world’s 2 billion underbanked. The central concept of Trestor revolves around the smartphone; Trests are traded on the Trestor network, known as T-Net, in a manner broadly similar to Ripple. While an....