Topic: Spain- Catalonia - Plans on creating a cryptocurrency with an inherent taxation - page 2. (Read 326 times)

And yet, as with all this Republic adventure that is based on emotionally driven individuals with not much of a solid rational factual base, and where lies on end pile-up to create an alt-reality, millions from tax payers have been invested into software, so called embassies, and so forth, in a will to keep pushing on a road to nowhere land. Bearing in mind that best case scenario nowadays is that 50% of the Catalan region are in favour of creating a Republic, it leaves out the other 50% who’s against the idea, and who are completely ignored by the Catalan government, and often harassed if they are to show publicly any alignment to being Spanish.

From an economical point of view, the cryptocurrency that is on the table is really yet another source of planned income for the cause, and with that sole objective in mind, the foundations that are at it’s base are weak and far from anything that I would consider trustworthy or with any sort of stability on the horizon.

Currently, the Catalan government has two set of income:
-   The official income, derived from official local taxes and Spanish central tax gathering.

-   The unofficial charity base line, whereby individual and businessmen that are aligned to the cause contribute through uncontrolled mechanisms to the cause.

The planned cryptocurrency I’s say would start-off on the latter scenario, with aspirations to the former from a self-governed point of view.

The image is actually a derogatory counter-replica on some football playing field. Catalans are often called “Polish” (Polacos) when one wants to refer to then as a collective in a derogatory tone, being the origin not clear (language related, tight with money, alleged parallelism between Spain/Catalonia during the Spanish Civil war and the Invasion of Poland during the Second World War, etc.).

Regardless, many people that believe that Catalonia should be independent do so because of economic reasons which are all but profound and well analysed in terms of feasibility and consequences.
I personally know cases of people who vote in favour of a Catalan Republic with the hope that, were it to succeed, they would be able to stop paying their mortgage to a bank that resides in Spain. A couple more that I know believe that since Catalonia would not pay it’s debts, then the Republican wonderland would swim in pool of Euros Croats o Catcoins that will make everyone richer.

The fact that the idea is only vouched by 50% of the population of Catalonia (7,5% of the population of Spain), and that Spanish constitution does not currently support the segregation of its territories, makes it a constant source of friction on the day to day encounter of the residents in Catalonia

This picture always gets me... If natives want to separate than there is nothing that could change their mind.
IMO further obstructions from central government, will only drive the conflict on to dangerous territory.
I wish those people all the best, maybe it will be the blockchain that sets them free?

If enough people expresses the will to create this "digital republic", as you adequately putted then why would anyone be against?
Society is a living organism, it can and will change, evolve on it's own, technology plays a vital role as usual in those changes.
Utopia or not, Godspeed Catalonia.

The whole "Catalonia sends too much tax money to Madrid" is actually a myth that was busted by many economists,but the catalan nationalists keep supporting that propaganda.The Pudgedemon idea of a "digital republic" is an utopia.It's pointless.

A rebellious idea indeed! One of the main reasons for the conflict between Spain and Catalan region is their taxation. Catalan nationalists have been complaining that their region sends way too much money to poorer parts of Spain, as taxes are controlled by Madrid. So it's no wonder that the rebel leader will try to create something that bypasses the existing taxation of Spain and get the money directly to the banks controlled by Catalan nationalists. However, I don't see it happening that easily and can escalate the existing conflict to the next level. It's an interesting idea though and food for thought for many!

This morning I read an interesting local article in relation Puigdemont, infamous ex-catalan president, and now a fugitive from the Spanish Judicial System that wants to trial him for rebellion. Rather than focusing on the political side of things, I was more concerned with the economical facet. The complete article can be found here: (see Puigdemont quiere que su república digital cuente con un banco y una criptomoneda], which translates as: Puigdemont wants his digital Republic to have a banc and a cryptocurrency).
The core of the article’s content seems to be derived from what Joan Canadell (a Catalan pro-independence businessman of certain entity, with ties to the political sphere) has explained recently, and therefore has it’s weight in terms of aspirational feasibility.

Making an effort to leave the political elements aside, what stands out after reading through the article a couple of times is the fact that there is a wish to create 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. The bank obviously would offer all it’s charms: heart-felt identity, way lower fees, and much more efficient than other existing banks.
Of course in legal terms, the app-bank would not be able to act as a proper bank in all sense (i.e. bank deposits and credits could not legally be part of it’s portfolio with current legislation), and would rather be more like a financial entity than a self-made bank.

Some of these things are in development, although in my opinion, the chances of them becoming a real thing are pretty slim, and likely the conservation of one’s economical portfolio will conflict with their political aspirations, let alone legislation.