Sunday, November 29, 2020
coincasso bitcoin exchange banner
Home News An Italian town creates its currency to deal with the COVID-19

An Italian town creates its currency to deal with the COVID-19

What is Ducati, why are they made and is their digital version a better solution for the little Castellino del Biferno?

New currency

The mayor (Enrico Fratangelo) of a small town in Italy, Castellino del Biferno, which has just over 500 residents, came up with the idea of creating a new currency – Ducati. The greatest help is for the poorest people, who, due to their location in the mountainous region of southern Italy, have problems with work.

Castellino del Biferno and its local currency ducati

Ducati and their value

The new currency, created by Enrico, is distributed to residents on the basis of their economic needs for essential goods. The equivalent of 1 Ducati, will be 1 Euro. The city council of Castellino del Biferno received 5500 euros for food vouchers from the Italian government, and thanks to the town’s savings, they managed to finalise the new currency and put it into circulation.

Process

As the shopkeepers say, the whole process is managed locally with watermarked paper, where they pay special attention to ensure that the Ducati do not transmit the virus, so they are laminated so that they can be disinfected later. Each banknote bears an image of one of the local attractions. Every two weeks shops can return Ducati to the city council in exchange for Euro.

small village ducati local currency
The idea had already been born much earlier in other Italian towns, where they used less official “tickets” to defusing any potential economical tension

Local digital currencies are the solution

The current global economic meltdown shows the potential advantages of the crypto and the demand for it. Ducati is an innovative solution, but it works only because the town has only 552 residents. There is a risk of virus contamination and banknote counterfeiting, apart from high production costs and the complicated process of putting currency into circulation. All these problems could be solved by a digital version of Ducati. Transparency, convenience and no fear of the virus would be an additional advantage of the new currency in the city of Castellino del Biferno if only they introduced its digital version. When the cryptocurrencies get on the agenda, people will understand that it took too long to understand their value.

digital currency ducati in italy city

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Sidebar Widget
USD
EUR
PLN
RUB
bitcoinBitcoin (BTC)
$ 18,107.51
ethereumEthereum (ETH)
$ 554.25
tetherTether (USDT)
$ 1.00
rippleXRP (XRP)
$ 0.599888
bitcoin-cashBitcoin Cash (BCH)
$ 280.15
litecoinLitecoin (LTC)
$ 78.51
tronTRON (TRX)
$ 0.030243
moneroMonero (XMR)
$ 121.31
dashDash (DASH)
$ 106.24
eosEOS (EOS)
$ 2.97
dogecoinDogecoin (DOGE)
$ 0.003424
bitcoinBitcoin (BTC)
15.142,13
ethereumEthereum (ETH)
463,48
tetherTether (USDT)
0,836235
rippleXRP (XRP)
0,501647
bitcoin-cashBitcoin Cash (BCH)
234,27
litecoinLitecoin (LTC)
65,65
tronTRON (TRX)
0,025290
moneroMonero (XMR)
101,44
dashDash (DASH)
88,84
eosEOS (EOS)
2,48
dogecoinDogecoin (DOGE)
0,002863
bitcoinBitcoin (BTC)
67,922.18
ethereumEthereum (ETH)
2,079.02
tetherTether (USDT)
3.75
rippleXRP (XRP)
2.25
bitcoin-cashBitcoin Cash (BCH)
1,050.86
litecoinLitecoin (LTC)
294.49
tronTRON (TRX)
0.113443
moneroMonero (XMR)
455.04
dashDash (DASH)
398.51
eosEOS (EOS)
11.14
dogecoinDogecoin (DOGE)
0.012844
bitcoinBitcoin (BTC)
1,376,116.60
ethereumEthereum (ETH)
42,121.34
tetherTether (USDT)
76.00
rippleXRP (XRP)
45.59
bitcoin-cashBitcoin Cash (BCH)
21,290.56
litecoinLitecoin (LTC)
5,966.53
tronTRON (TRX)
2.30
moneroMonero (XMR)
9,219.20
dashDash (DASH)
8,073.92
eosEOS (EOS)
225.71
dogecoinDogecoin (DOGE)
0.260214
Sidebar Post
coincasso bitcoin exchange banner

Latest News

CBDC becoming more and more popular

More and more countries are planning and developing the emission of their own crypto. Lithuania announces the launch of its CBDC in July, while...

Bitcoin versus gold, what is a better investment?

Since the global COVID-19 pandemic, people have been looking for an alternative to keeping their savings in their domestic currencies. Some of them choose...

The Medical University of California forced to pay the ransom

Hackers hacked into Medical University computers and demanded a ransom for unlocking the data. After not very fruitful negotiations, the hackers received 116.4 BTC. A...

Blockchain e-voting system was attacked

Bitfury working for the Russian government was attacked at the weekend. Are innovative solutions safe? Problems in the Russian voting system  The Russian system of voting...

Crypto-powered online game tournaments are the future of this market

The Counter-Strike stars will soon be taking part in a cryptographic tournament, while fans will be able to bet on the score with VRA...