03 Oct '12, 2pm

Can Bitcoin Offer Hope to Skidding Local and National Economies?

Can Bitcoin Offer Hope to Skidding Local and National Economies?

Hard times open doors for new ideas New currencies are in high demand these days, especially in those communities most paralyzed by the financial crisis. Spaniards, who face a 25 percent unemployment rate in their country, have become particularly adventurous. In Barcelona, people have begun to join a local time bank that pays for their services in hours rather than euros. In southern Spain, they are accepting a new virtual currency called Malaga Común . Other projects have a more political hue. In late 2008, the Bolivarian Alliance for the People of our Americas (ALBA), a trade council formed between countries in Latin America and the Caribbean that includes Venezuela and Ecuador, signed a treaty to establish a new currency called SUCRE to move away from dependence on the U.S. dollar. Last month, the Wall Street Journal reported the countries had used SUCRE to pay for $42...

Full article: http://txchnologist.com/post/32799981468/can-bitcoin-offe...

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