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Norwegian city bans fiat and local cash, replaces with crypto

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Norwegian 'city' replacing FIAT and cash for its own cryptocurrency Crypto Heroes

Liberstad, a self-proclaimed liberal south Norwegian city, ditched all cash and fiat currencies in favor of its own cryptocurrency. The cryptocurrency now replaces all other forms of legal tender by becoming the official currency of the city.

CITY Coin now the official currency of Liberstad

The south Norwegian city of Liberstad abandons fiat and cash currencies for a state-developed cryptocurrency dubbed CITY, as they aim to boost their libertarian claim. A spokesman for the town told Express.co.uk that the cryptocurrency is a secure and innovative coin developed on City Chain, a smart city platform that allows users to design, implement, and use next-generation services for smart cities and their inhabitants.

CITY coin is the first cryptocurrency officially adopted by a smart city, and it will be used in Liberstad to pay for services, worker wages, and funding for civic projects. ‘Inhabitants can pay for anything ranging from haircuts, a dozen local eggs or an artisan loaf of bread using CITY, marking a milestone for real-world use of blockchain technology,” the spokesman said.

Although the cryptocurrency was launched recently, over 100 land plots have already been bought using CITY and more plots will be made available shortly for purchases using the cryptocurrency.

Liberstad wants to become a free city

Liberstad, as a community, is committed to improving lives and changing the way society works. Libertarians generally dislike big government and aim to increase political freedom and autonomy in the city.

It is no surprise that Liberstad chose to adopt crypto, as Bitcoin was primarily created to take away financial control from government and big corporations and hand it over to the people.

Bitcoin-friendly Liberland acknowledged by European Commission president

Liberstad is not the only project of this kind. Another one surfaced not so long ago in the Balkan peninsula. Liberland, a micronation between Croatia and Serbia, was recently acknowledged by Jean-Claude Juncker, President of the European Commission, who stated that the region requires further clarification. The micronation gaining acknowledgment is good news for the crypto community, as Liberland is involved in spreading decentralization and emerging technologies like crypto.

The region is one of the first to accept cryptocurrencies for funding, with popular cryptos like Bitcoin Cash, Ethereum, and Bitcoin, used in payment of goods and services. Liberland is also on the cusp of launching Liber TV, an open source direct broadcasting service that would help the micronation gain acknowledgment from global leaders.


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