Express
Spanish Municipality Creates Its Own Cryptocurrency To Boost Economy Hurt By Coronavirus Crisis
Summary: A municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact.According to Europa Press, the City Council of Lebrija created “Elio,” a crypto asset pegged to euro price, which will act as a ...
A municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact.
According to Europa Press, the City Council of Lebrija created “Elio,” a crypto asset pegged to euro price, which will act as a tunnel to send economic aids to stimulate local consumption, between 50 and 200 EUR ($61 to 244) to each one of the 593 selected beneficiaries. The criteria of selection took into consideration their monthly income and number of children.
Tracy Chen
Tags: Spanish
Link: Spanish Municipality Creates Its Own Cryptocurrency To Boost Economy Hurt By Coronavirus Crisis [Copy]
