How do you feel about local crypto-currencies?

tiksie12345

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Quote from: vikkyzenna on June 27, 2017, 02:49:40 PM

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

Local Crypto currency for me can be of great help to slowly help eradicate poverty which is the cause of various various crimes.

kryptqnick

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Quote from: stromae on June 27, 2017, 03:49:30 PM

Quote from: vikkyzenna on June 27, 2017, 02:49:40 PM

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

I absolutely find them useless. This attempts has nothing to do with decentralization as long they remain local. We already have local currencies as paper money.

Perhaps they do make sense as an attempt to get a compromise between fiat (fully centralized) and cryptocurrencies (decentralized). Cryptocurrencies areproducts of globalization but along with globalization usually occur some localization processes. Thus, eventually, globalized product has to adjust to local culture and as a result we get a thing called glocalization. Local cryptocurrency implements IT into the state, so I guess it is a nice try.

Mpamaegbu

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Quote from: pearlmen on June 27, 2017, 04:01:09 PM

Quote from: vikkyzenna on June 27, 2017, 02:49:40 PM

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

I see it as an exercise in futility and the reason is simple. Anybody coming into crypo currency comes for bitcoin and when they are able to understand that its because of the control government has not been able to get is what necessitates their own crypto currency, there are no two ways than to dump it. And for those who are already involved would not drop the freedom bitcoin gives for anything else.

Exactly a waste of space and time. One wonders what self pride can cause and throwing these devs into an exercise in futility by creating local cryptos that won't really stand the test of time. Bitcoin and a few cryptos have an aura of universality. And this has enabled it wide range of acceptability.

coolcoinz

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I don't support the creation of new altcoins. Most of them are pump and dump schemes and eventually 99% of altcoins will end up being worthless. They aren't in any way superior and there's not enough room for so many coins to be used. I can understand coins made for certain purpose like gambling, but we already have too many.

pearlmen

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Quote from: vikkyzenna on June 27, 2017, 02:49:40 PM

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

I see it as an exercise in futility and the reason is simple. Anybody coming into crypo currency comes for bitcoin and when they are able to understand that its because of the control government has not been able to get is what necessitates their own crypto currency, there are no two ways than to dump it. And for those who are already involved would not drop the freedom bitcoin gives for anything else.

stromae

full member

Activity: 309

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Quote from: vikkyzenna on June 27, 2017, 02:49:40 PM

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

I absolutely find them useless. This attempts has nothing to do with decentralization as long they remain local. We already have local currencies as paper money.

tiggytomb

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Quote from: vikkyzenna on June 27, 2017, 02:49:40 PM

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

For east London, is there a specific purpose behind this? do you have a link you can share so we can find out more information?.

vikkyzenna

newbie

Activity: 34

Merit: 0

Do they make sense?
Israeli blockchain start-up Colu launched a new e-currency in East London for the local economy, according to Crowdfundinsider.

Topic: How do you feel about local crypto-currencies? (Read 491 times)