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Author Topic: Spain- Catalonia - Plans on creating a cryptocurrency with an inherent taxation  (Read 209 times)
DdmrDdmr
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March 06, 2019, 11:37:25 AM
 #21

<…> Spain and Catalan region have always been in disagreement and taxation is one of the reason why they never agree.
True. A recurring mantra used in Catalonia is “Spain robs us” (“España nos roba”), which is used as one of the core reasons for wanting to gain independence from Spain. Want it or not, that is how the tax games often plays-out, based upon the principal of solidary, whereby the richer regions contribute to the poorer regions from the point of view of a net tax balance.

That is quite a common principle, and taking it to an extreme, Barcelona’s Sarria neighbourhood could state that Nou Barris steals from them, since Nous Barris is one of the poorest neighbourhoods in Barcelona. Or within one same neighbourhood one could state that the unemployed that have a government aid of some sort, are “stealing” from taxpayers within that neighbourhood. It’s all down to how self-entered one is.

<…> For months now many Catalans have been taking their savings out of Catalonia.
All that money goes is deposited in Spanish banks outside Catalonia.<…>
And rightly so. Having your lifetime savings in a Banc on Catalan soil is a risk that is not necessary to run. I know plenty of people who have moved their assets to Madrid, Valencia or Zaragoza, and plan on never returning them to a banc on Catalan soil.

During the days that built up to, and followed the (failed) declaration of independence by the Catalan government, the queues at banks were enormous, and many people were afraid that their assets could be seized overnight. Fortunately, events have not gone that far, but this is not a single episode show, and the show does go on (and on, and on…).

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March 06, 2019, 06:53:00 PM
 #22

Yes, you can imagine such idea, I also I do not even see any chances of them having this become a reality but rather will only make things worse.

What I would have expected from them was to first of all work out a plan to resolve the present conflict and if for any genuine intention of creating a coin, then they can do that but their negative reason for trying to own this coin is quiet obvious and they are only calling for war rather than working on making peace and with conflict on ground how do they expect their dream turn reality ?
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March 06, 2019, 07:25:24 PM
 #23

a cryptocurrency for those that are pro-independents to be able to pay their goods with (that would be 50% of the region of Cataluña in the best case scenario). Out of the payments one were to make with this cryptocurrency, a percentage would be transferred to the (seven second) Republic. In other words, this cryptocurrency would inherently be born alongside a digital taxation to finance the Republic.
The cryptocurrency at hand would not be anything like Bitcoin, which is solely a means for speculation (not my words - theirs), but rather a stable coin, tied to the Euro on a 1:1 ratio.

The bank they want to create is pretty universal too in terms of aspiration: You would be able to access the bank through an app, if you have your Catalan republican identity.
Inherent taxation is a pretty cool idea which could solve the issue of tax evasion once and for all. I hope the tex is reasonable, though, because otherwise it is a serious downside. The fact that we are talking about a stable coin here, though, means that even these somewhat progressive people are not ready for real cryptocurrencies. And the bank is just another unnecessary thing in all this! Anyway, the idea is original, but not without flaws and probably, as you said yourself, not going to come true. If it does, it will lead to more tensions between Spain and Catalonia IMO, since the issue of identification will affect the tax payments.

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March 06, 2019, 07:40:39 PM
 #24

Catalan has been fighting for independence for a long time but never succeeded. One way of annoying the Spanish government would be to create their own crypto currency and use it within their region.

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DdmrDdmr
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March 06, 2019, 08:32:12 PM
 #25

<...>
One important feature to consider is that, contrary to how the Catalan government verbalises its speech, Catalonia is not "un sol poblé" - expression which they use to refer to the Catalans as a single united front. The Catalan government has systematically added the 50% of non pro-independence Catalans to their ignore list, but society is complete split on the subject nowadays.

By that, we need to take into consideration that the conflict is not only with The Spanish central government, but also at even shares with the inhabitants of Catalonia. Whatever economical tricks they have up their digital sleeve will have both fronts to tackle (plus the EU, were things to move on any further).

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