Drachmae: a Bitcoin-like Solution for Greece's Troubled Economy
CNBC contributor Brian Kelly, the author of "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World," proposes a quick and simple bitcoin-like solution for Greece's troubled economy. Since the January elections that brought the "anti-establishment" Syriza party to power, Prime Minister Alexis Tsipras has been trying to renegotiate....
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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....
Drachmae Connect, a tourism business network, is using NXT technology in attempt to help ease liquidity problems and business-to-business trade in the Island of Agistri. Support from the mayor of Agistri has enabled a partnership between the social network, Nautiliuscoin, Drachmae.money payment gateway, Coinstructors and SuperNET, as they begin testing in Greece. John McLeod, a press contact with Drachmae Connect, described the company as a “business-to-business platform that will not only allow merchants to exchange services, but also enable tourists to book vacations at a discount using....
The Greek crisis and the prospect of Grexit - the exit of Greece from the Eurozone and perhaps even from the European Union - continue to make headlines. The government of Alexis Tsipras and his euro-skeptic, anti-establishment party Syriza, is trying to negotiate solutions for the struggling economy of Greece that would keep the country in the E. U. and the Eurozone, but the worst-case solution - Grexit - continues to be seen as a perhaps inevitable alternative option. Greece's Finance Minister Yanis Varoufakis wrote a blog post in February proposing a similar IOU-based currency, which he....
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....
Bitcoin prices experienced a sudden surge earlier last week. The price which was hovering at around 225 USD to 227 USD suddenly shot up to cross 250 USD. So what caused the sudden surge and what does it imply? First, let us get to the bottom of the price gain and to do that, we need to have some knowledge of current world affairs, especially in Europe (which most of us might already know). One of the nations in the European Union (EU), Greece has been in troubled waters for a while now. The country started experiencing an economic slowdown in 2008 and the condition has been deteriorating....