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Naples Mayor Alludes To Development Of Autonomous Cryptocurrency




Can blockchain and crypto technology be the foundation of self-governance for Italy's third-largest city?

Ever since the industrialization of the Italian northern states that began in 1890, the divide between northern and southern Italy has grown deeper. And, according to the mayor of the southern city of Naples, the discrimination that fuels that divide is still alive and well.

Because of its isolation from the economic and industrial centers of the country, citizens of Naples often feel discriminated against by laws made in the North. In a lengthy Facebook post, Naples mayor Luigi de Magistris claimed the rulers in the central government are "working to divert most of the resources towards the rich," leaving the south with only "alms."

To remedy this situation, which, according to de Magistris, is filled with "hatred towards the South," the mayor has vowed to work toward Naples' autonomy. He says he has a threefold plan that can lead to the rebirth of his city and to a "Italy united in its differences."

De Magistris' first step will be to publish a "concrete political manifesto" outlining how the city will govern itself. The second will be to remove "unjust debt" – such as the debt contracted by the state after recent earthquakes – from the city's budget. Third, de Magistris plans on creating "an additional currency to the euro."

Although de Magistris does not expressly state what type of currency he wants to develop, based on his past actions it is reasonable to assume that he has some type of cryptocurrency in mind.

According to an April 2018 press release on the city's website, the de Magistris administration is forming a voluntary study group to assess the regulations, development, and dissemination of blockchain and cryptocurrency technology. The group is comprised of lawyers, software developers, and journalists, as well as professionals in other fields.

The webpage states that the city of Naples is looking into how blockchain tech can guarantee everyone a voice in the political and economic issues of the city: "It would be possible to guarantee a real popular participation in collective life, which is the basis of a model of self-government that puts the will of the sovereign people at the center of decision-making processes."

Translations by Google.

Nathan Graham

Nathan Graham lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

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