Rec, the new digital currency of Barcelona

The currency is intended to "promote local commerce", so its value will have parity with the euro

In recent years, Blockchain technology has become famous as a “livelihood” for all known cryptocurrencies.

Several cities and communities throughout the world are beginning to work on their own versions, as is the case of Barcelona (Spain), which will have the Citizen Economic Resource (Rec) in operation this month.

The currency works through a cell phone application or with payment cards, and aims to “favor local commerce”, so that its value will have parity with the euro.

The Argentine economist Juan Valerdi, expert in tax issues, said that with this kind of currency “What you achieve is a rapid financial inclusion and the person does not need to go to a bank, qualify as a customer or have the physical possibility of accessing a branch You can directly have financial services with much lower costs than a traditional banking system on your cell phone”.

Based on this, users could use digital tools of exchange, with the benefit that the money “doesn’t leak”, since it’s spent within the community and reinvested there.

N. Moncada

Source: Mundo.Sputniknews

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