I wonder if Catalonia will be free market/bitcoin friendly. I am not aware of how the politics are in the area.
Google translate:BANK OF CATALONIA, the new bank CATALÁN
Catalan Bank and its currency, the catcoin, are now a reality.
This week has officially created the Bank of Catalonia , a project that had already been a simmering in the minds of some students of the Faculty of Economics and Business at the Autonomous University of Barcelona (UAB) year. From work to grade, the idea began to take shape, and through good cooperation with a team in Nepal, September 22 was released on catcoin , Catalan virtual currency issued by a single virtual Bank Peninsula, the Bank of Catalonia.
What is a virtual currency?
A virtual currency or cryptocurrency is one currency that is not physical or trust, which is used for online transactions independently of any regulatory bank or central government, and that follow the rules of supply and market demand. A virtual currency value based on the trust users accrue to it. That is, if we create one currency and no one uses it, nobody wants it or believe it is a hoax, its value is zero, because no purchase or values. But if everyone or a majority begins to accept it and use it, that currency will be gaining value, gaining strength and stabilize the market as a means of frequent use. But just as it can happen with the euro, if one morning we got up and it turns out nobody likes the euro and nobody wants it, and you have 500 or 900,000 are not going to do any good. Similarly, a € 10 banknote has a value of 10 € really worth the money printing that piece of paper, which is probably much lower than € 0.01, but to establish a serious and regulated market, this role has value of 10 €, and so we give and we believe, because we have confidence as users of the ticket that other users also give the same value to us.
The idea of virtual currency arises for the first time in 1998 by the hand of Mr. Wei Dai, which proposed a new method of creation and circulation of money supply that was not dependent on a centralized authority or manipulative. In January 2009, a user named Satoshi Nakamoto materialize the idea, creating what would be the first free and independent virtual currency, Bitcoin .
Catalan virtual currency, despite its name, is not limited only to the area of Catalonia, its use is global and anyone can open a free account with the Bank only requires internet connection. But what good is the catcoin?
It serves as a reserve currency or shelter in the same way it does today gold, increasing its value progressively and especially in times of crisis.
Investment. Chances are that the price of catcoin up early, by its novelty incentive and political events that shake Catalonia in recent months.
Revitalize, strengthen and / or make stronger local commerce, allowing SMEs and independent see growing trade between them and the users of the currency.
Speculation, just as Any virtual world currency. Although catcoin is designed to prevent abrupt changes in the market price.
The Bank's role is merely platform to buy, sell, give away or save money; this can be changed to euros, dollars or other currency through each user's personal account linked to your Paypal account. The coin has a current value of € 0.2520, which varies depending on the coins they acquire users, the more coins are acquired, the greater the value. If you sell the currency to the bank (which can also be), the stock of coins increases and decreases of the official price.
It is expected to gradually and businesses interested go joining the project and accepting the currency as payment in case any of your customers so requests. The opening area is the district of Gràcia. A future virtual store where products can be purchased with the currency was also raised.
It is an interesting project, and I invite you to create you your own, it's very fast and there is a promotion where they give you a nickel for every five that you acquire as a new user.
http://www.imaginemundi.com/bank-of-catalonia-el-nuevo-banco-catalan/Also. Dead but:
https://bitcointalk.org/index.php?topic=518418.0
