Catalonia Launches Own Cryptocurrency
Catalonia aims to emulate Estonia’s e-residency program despite the region is in Spain fighting for independence. As seeking to cement future, Catalonia launches own cryptocurrency and e-residency?
30 October, AtoZForex – Catalonia is gearing up to create its own cryptocurrency and e-residency program amid fighting for independence from Spain.
Catalonia launches own cryptocurrency and e-residency?
The move is inspired by Estonia attempted to create a national cryptocurrency called Estcoin . Catalonia is also considering adopting its own digital token or cryptocurrency. E-residency programme will offer a government-issued digital identity card that provides a way to operate a location-independent business online.
According to a report, the government has sent representatives to Estonia to learn about the e-residency program. Also, blockchain experts in Catalonia have also sought the help of Ethereum founder Vitalik Buterin. Buterin has advised Catalonians to build their own ICO for the platform of virtual residents with an initial offer of currency that would be equal to the amount of capital it would take to complete the e-residency program.
SmartCatalonia director Dani Marco said the Estonians built a model of economic development from scratch. Marco appears to be heading Catalonia’s e-residency initiative. Estonia’s e-residency program serves as Catalonia’s model and could emulate an Estonian proposal to issue national blockchain based tokens. Catalonia is keen on in Estonia’s e-residency program since the program has no borders. However, the e-residency program has attracted more than 20,000 entrepreneurs from 143 countries since 2014, including 336 from Spain.
Estonian ‘Estcoin’ proposal rejection
Meanwhile, European Central Bank chief Mario Draghi rejected the Estonian proposal for a separate cryptocurrency, stating that the currency of the eurozone is the euro . For Catalonia, this presents a problem because Spain is in the Eurozone. If it wishes to transition its digital economy to a new “official” currency, it will likely have to ditch the euro for good and issue its own paper money for cash payments.
Similarly, Romania, Poland, Sweden, and Hungary are also notable examples of countries that issue their own currencies. And also maintain a presence in the European Union. However, Catalonia still has many barriers to cross if it wishes to be a nation. The situation regarding its departure from Spain is tenuous at best. If it is to succeed in a separation, perhaps one of the first items on the agenda should be to separate its economy from the mainland without jeopardizing it.
Think we missed something? Let us know your opinion in the comments section below.
30 October, AtoZForex – Catalonia is gearing up to create its own cryptocurrency and e-residency program amid fighting for independence from Spain.
Catalonia launches own cryptocurrency and e-residency?
The move is inspired by Estonia attempted to create a national cryptocurrency called Estcoin . Catalonia is also considering adopting its own digital token or cryptocurrency. E-residency programme will offer a government-issued digital identity card that provides a way to operate a location-independent business online.
According to a report, the government has sent representatives to Estonia to learn about the e-residency program. Also, blockchain experts in Catalonia have also sought the help of Ethereum founder Vitalik Buterin. Buterin has advised Catalonians to build their own ICO for the platform of virtual residents with an initial offer of currency that would be equal to the amount of capital it would take to complete the e-residency program.
SmartCatalonia director Dani Marco said the Estonians built a model of economic development from scratch. Marco appears to be heading Catalonia’s e-residency initiative. Estonia’s e-residency program serves as Catalonia’s model and could emulate an Estonian proposal to issue national blockchain based tokens. Catalonia is keen on in Estonia’s e-residency program since the program has no borders. However, the e-residency program has attracted more than 20,000 entrepreneurs from 143 countries since 2014, including 336 from Spain.
Estonian ‘Estcoin’ proposal rejection
Meanwhile, European Central Bank chief Mario Draghi rejected the Estonian proposal for a separate cryptocurrency, stating that the currency of the eurozone is the euro . For Catalonia, this presents a problem because Spain is in the Eurozone. If it wishes to transition its digital economy to a new “official” currency, it will likely have to ditch the euro for good and issue its own paper money for cash payments.
Similarly, Romania, Poland, Sweden, and Hungary are also notable examples of countries that issue their own currencies. And also maintain a presence in the European Union. However, Catalonia still has many barriers to cross if it wishes to be a nation. The situation regarding its departure from Spain is tenuous at best. If it is to succeed in a separation, perhaps one of the first items on the agenda should be to separate its economy from the mainland without jeopardizing it.
Think we missed something? Let us know your opinion in the comments section below.
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