Home Finance News Naples to get Autonomous Municipal Cryptocurrency

Naples to get Autonomous Municipal Cryptocurrency

Luigi De Magistris

Luigi De Magistris pledges to launch an Autonomous Municipal Cryptocurrency to release the city from unfair debt.

Luigi De Magistris, former prosecutor, Italian politician, and Mayor of Naples expressed with great emotion that he has included the Autonomous municipal cryptocurrency as a part of his three fold action to re-establish financial and political autonomy for Naples.

Naples is the capital of the Southern Campania Region in Italy.  De Magistris is the Mayor of Naples.

The mayor implied that there is southern discrimination in the country.  He plans to release Naples from the “anti-southern discrimination” by launching a municipal cryptocurrency that will be based on the city’s  economy.

The new cryptocurrency for the city has been declared on his Facebook profile by the Mayor on September 2, 2018.

The Mayor is very confident about achieving fiscal autonomy for Naples with the launch of the autonomous cryptocurrency for the city.

While exhaustive details are yet awaited, the very declaration of the launch of the cryptocurrency has stirred up local blockchain activity in the region.

The Municipal Administration Work Group that will be looking over the crypto activities of Naples are as well declared the official page of Naples.

This vision of the mayor for the Naples Municipal Corporation are a part of his political efforts. The launch is indeed a determined move against the “potentates who rule in Rome.”

The cryptocurrency is expected to reduce financial friction eventually leading to liberation from unfair debt. The local power is thus expected to gain some decent improvement in executing its powers of autonomy.

The mayor establishes that there is a north-south fault line in Italy. He remarked that the “in the north, the separatists screamed first.”

He further adds that the central government has been forever doing things to the advantage of the north.

He remarked, “Before a government with obvious anti-south traction, which is strengthening the Lombard-Veneto axis… and is working to hijack most of the resources towards the rich, giving only alms to the south, we must launch an historic challenge, never thought nor implemented so far.”

The mayor strongly believes that the move to have a cryptocurrency for the city will bring in true financial liberation.  He criticized that the Euro is a “putrid” currency.  The creditors of the city have funded in Euros and he further adds that Naples is not truly aware of its debt.  He stated, “we in fact are victims and should be compensated, rather than paying debt to the usurpers!”

According to De Magistris’ the economy of Naples’ is mainly dependent upon tourism.  He is furthering to improve on the economic structure of the city by including token economy in Naples. This means that tourists and others who visit Naples can now spend in cryptocurrency after the launch.  The blockchain-enabled cryptocurrency for the city will be now based on the distributed ledger and token incentive ecosystem.

Cryptocurrency is now seen by Naples as a synergy that will forcefully release the economy of the city from the ransom of the South by the sovereign governments.


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Steven Anderson

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