Finally, does the solution to the Greek crisis exist and should be sought in the crypto economy ?? See the example of Iceland but also a first attempt that is being implemented in Greece!
Auroracoin , adopted in Iceland, is the most serious attempt to use the newly introduced cryptocurrency as a way to support a formerly bankrupt European economy. Essentially on Litecoin, it made its appearance in February and began its immediate distribution to 330,000 Icelandic citizens at midnight on March 25. The distribution process will take place in successive phases, lasting 1 year, during which Icelandic citizens will be allowed to claim 31.8 based Auroracoin .
Each Auroracoin is worth 0.2 bitcoin, or about $11.60. The price has risen by 15% in the last 48 hours, and it is expected to rise even more as a significant number of Icelanders start to flood the market with the “gift” they will be given, considering that it is not yet clear how the Auroracoins. So far, a small number of Icelanders have claimed their cryptocurrencies for use.
Auroracoin is the answer to the strict capital controls imposed by the Icelandic government, which has continued to block the movement of capital in and out of the country for more than 5 years now, after being implemented as a temporary measure to deal with the 2008 bankruptcy. The goal of adopting Auroracoin is to provide Icelanders with an alternative, a currency that they can transact seamlessly without control anywhere, buying whatever they want, whether it is dollar transactions or other foreign currency. And most importantly, they will not need permission from the Central Bank or from the politicians who manage the country's economy (!).
The success of the Auroracoin project remains uncertain so far. Of course, another cryptocurrency is making its appearance in April, SpainCoin, with crypto enthusiasts distributing cryptocurrencies for use by Spanish citizens. The difficulty of such projects is the initial creation of the total volume of cryptocurrencies (pre-mining) before their free distribution to the public. Of course, as we are able to know, there are crypto-currency experts in all countries – even in Greece – who could contribute to a collective national development effort.
Those who keep large amounts in their bank accounts react negatively to the prospect of using cryptocurrency, but those who have lost a lot due to the bailout support the creation of a new monetary system, independent of banks and politicians.
[box_warning]Finally, could the solution to the economic crisis come through the adoption of a Greek National Bitcoin currency? Do you want to see the (alleged) distribution of the surplus in the form of bitcoin? It is puzzling because so far none of the “tethers” of the Ministry of Finance has proposed the creation of a cryptocurrency.
Probably the officials of the Ministry (since they naturally preach sustainable development) should think about it extremely seriously![/box_warning]
At the time of writing the article, we were informed that the Greek effort in this direction has already begun, with the Greek coin! The Greek Coin is a coordinated effort by Greeks to create an independent & electronic currency with which Greeks and expatriates will be able to make purchases in contracted electronic and physical stores as well as transactions between themselves without any charge, easily & anonymously. Let's hope it receives the appropriate support from institutions and citizens!
