The competition for the Euro? Italian town puts its own money at corona virus – Breaking News

Castellino del Biferno, is a South Italian village with 550 inhabitants, and is started up with the beat of their own currency. They refer to this coin Tell you about. In this way, the city and the local economy during the global pandemic of the corona virus.
The mayor of the city, it Enrico Fratangelo, is thought to have secretly been in 12 years after the creation of your own money. Now, he can finally get his ideas to the test. To explain:

We have decided to put money to save in order to ensure that the local economy and the impact of the situation can be contained. No matter how small the economy is, there are still three or four of the businesses are open.

To support the economy

Flights will be divided among the inhabitants according to their economic needs, and can be spent on essential items. For the avoidance of doubt, the value of which is 1 and Highest is equal to 1 euro. The city council has received from the government of 5,500 euros to get food stamps as well, and with their own savings, they were able to have the solution to finance the operation.
The whole process of being a local managed watermerkpapier, with special care in order to ensure that the papers have the virus not to pass it on. According to the copy-shop owner, Antonio, Lannaocone:

We’ll start with the watermerkpapier, then we are the ones, according to the administration, agreed on a design on a sheet of paper. Then, mounting, we have the skin, so that the banknotes can be safely. As soon as it’s rolled, cut the notes down to their final size.

Every two weeks, the shops, each and every Tell you to return to the city in exchange for the equivalent amount in euros.

Not for the first time

The idea of a localized currency in 2016, and even before that in Italy it has been tested. Gioiosa, in the south of Italy, is home to a group of asylum seekers, and the use of a local currency is only accepted in local shops. However, this approach is ‘tickets’ as they are called, and ensure that local businesses can take advantage of it. The goal is to eliminate any tension between local residents and newcomers to the approach.

But why not digital currency?

Because of the corona virus also can be transmitted through the coins and banknotes, encourage the authorities to provide book-entry form ” or ” digital-to-pay. This is an opportunity for the cryptocurrency in order to show what they are capable of. The Appendix shows.
The local currency may be a solution, but it will only work on a small scale. The risk of contamination, and the distortion increases as more people use it. In addition, it will also increase the cost of production.
An electronic copy of the Appendix, it would be very similar to a digital currency by the central bank, and it wouldn’t be the same price as in the store of the Motorcycle. It can also be a great computer has not been tampered with, and not at all infected.

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