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Author Topic: Nantos - Virtual Currency - w/ demurrage and such  (Read 1514 times)
Stephen Gornick
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March 14, 2012, 02:12:03 AM
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The French city of Nantes is planning on introducing their own electronic virtual currency called Nantos.

But the Nanto is no Bitcoin:

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Firms won’t be able to amass Nantos or to cash them in, and there will be a system of penalties – for companies over a certain negative or positive fixed limit,

What?   So what does Joe Grocer do with the Nantos that customers used to pay for their purchases?

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One of the main goals of the system is to accelerate trade between local companies. Members of the 'Nanto zone' will be able to limit the use of cash, thereby reducing cash flow problems and making exchanges easier.

But what if there aren't local sources for the products sold?

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Nantos that aren’t spent can be used to finance non-profit organizations.

So the Nanto is a currency that isn't convertible into the political currency used (Euro) and has an expiry (so it can't be hoarded).

We'll see.  Launch target is Summer of 2013.

 - http://www.worldcrunch.com/micro-currency-french-city-nantes-soon-you-can-pay-nantos/4839
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March 14, 2012, 02:17:20 AM
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How will they stop hoarding?  One company will create a second company to send and receive coins to avoid the expiry.

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