Norwegian ‘City’ Replacing Fiat and Cash for Its Own Cryptocurrency

norway cryptocurrency

Liberstad, a libertarian metropolis in southern Norway, has reportedly dumped fiat currencies and money. In their place, it has instituted its personal cryptocurrency — City Coin. 

The not-so-cleverly-named cryptocurrency will change all different types of authorized tender.

A spokesman advised

City Coin is a safe and modern cryptocurrency primarily based on City Chain, a wise metropolis platform that allows the design, implementation and use of next-generation companies for good cities and their inhabitants. As the primary cryptocurrency to be formally adopted by a wise metropolis, City Coin is the one medium of alternate inside Liberstad. It can be used for the fee of metropolis companies and employee wages and for funding civic initiatives. Inhabitants will pay for something starting from haircuts, a dozen native eggs or an artisan loaf of bread utilizing CITY, marking a milestone for real-world use of blockchain expertise. Over 100 land plots have already been offered inside Liberstad and extra will develop into accessible to buy utilizing CITY within the close to future.

While the prospect could appear farfetched, it bears remembering that Liberstad is a small metropolis primarily based on The Libertania Project’s rules of anarchism and non-aggression. According to its official web site, it’s a personal metropolis during which “all property is private and all services are performed by private actors” and based on the idea “that all human interactions should be voluntary.”

norway blockchain

The spokesman additionally advised the day by day nationwide middle-market tabloid newspaper:

We are a small group of people who’re searching for a change in the best way society works. We need a society the place folks resolve over themselves and might dwell collectively with out authorities authorities. Liberstad will develop into a metropolis the place anarchism can get a bodily foothold in one of many world’s most socialist nations. We additionally need a metropolis the place everybody has the chance to purchase each homes and land for a worth that’s far under different home and cottage costs in Norway. In Liberstad it is possible for you to to dwell with out excessive mortgage or lease, and with none direct and oblique taxes. Liberstad will develop into a metropolis the place life is less complicated, extra enjoyable and with out the excessive price of residing. In the long run, we will collectively develop a non-public metropolis the place folks have better freedom and alternative to dwell the life they need.

Cryptocurrencies like Bitcoin (BTC) and libertarianism have lengthy gone hand-in-hand. Liberstad and City Coin are simply additional small examples of what could possibly be in retailer for freedom-loving people within the not-so-distant future.

What do you consider Liberstad and City Coin? Let us know your ideas within the feedback under!

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