Topic: Nantos - Virtual Currency - w/ demurrage and such (Read 1620 times)
How will they stop hoarding? One company will create a second company to send and receive coins to avoid the expiry.
The French city of Nantes is planning on introducing their own electronic virtual currency called Nantos.
But the Nanto is no Bitcoin:
What? So what does Joe Grocer do with the Nantos that customers used to pay for their purchases?
But what if there aren't local sources for the products sold?
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
But the Nanto is no Bitcoin:
Quote
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?
Quote
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?
Quote
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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