Crypto is for everyone - CIUGUban case

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https://www.primariaciugud.ro/


Hi,

I was pleased to read in the news, that one small village of 3000 souls in the heart of Transylvania, Romania, has created its own digital currency called CIUGUban, which comes from Ciugud name of the village and ban, which means money and is also the denomination of the Romanian Leu - RON.

Ciugud is one of the richest villages in the country, not because rich people moved there, on the contrary, the population was poor for ages, but due to the mayor and the local council, who understood what their job is, namely to serve the population. Usually, politicians in Central and Eastern Europe are there for the money grab, but sometimes we see some positive stories like this one. The mayor decided to go for funding from the European Union, and they applied to almost every program available for development and after winning also took care to implement it.

The local digital currency, CIUGUban was created with such funding. Romania has the lowest rate of recycling in the EU, and this village has implemented a recycling system for PET bottles and metal cans. This might seem a state of the art for most countries, it is something new in here.

To encourage the use of the recycling machine, the ones recycling will receive the digital currency CIUGUban, which can be spent only on local level.

This measure brings some advantages, people get some education and will get used with recycling, they get an incentive to recycle making the planet a little better, and the money from this activity gets back into the local economy. Even if we are global, it helps a lot to consume and spend on a local level. This fuels the economy, jobs are created and the area is thriving.

This is a small piece of news, that has a very small impact on a global level, but it can be an example on how things can be done and local governments can help. Do you have such examples?

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15 comments
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That is definitely a great use case. How easy is it for the residents there to change the crypto back into fiat or goods?

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I presume “can only be spent on the local level” means the spend like cash in town so no need to exchange?

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Maybe but then they would have to set a system up for all of that. I think it would probably be simpler for them if it just turned into fiat for easy use.

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How hard would it be to set up something like that for such a small population? It’s likely just an app with a basic wallet.

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It is but it also requires you to set up the structure and find how to incorporate it into society. Not only would you need outreach, you would also need connections and communication before any of it works out.

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But doesn’t that kinda defeat the purpose of a crypto initiative?

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They pay directly with the coin on accepted local stores. The local stores can pay with it at the local authorities.

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Oh that is good to know. Does the price of the crypto coin vary from day to day or is constant for a long while then changes every now and then.

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The very interesting use case for crypto! I hope the idea spreads to other regions

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Bullish :)
Clever guy that mayor, I wish we had a similar one, but unfortunately ours is the typical corrupt one that doesn't even manage to offer us proper roads.

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He is doing an amazing job. Brought some larger manufacturers into the village and tries to get as much as it gets to its community.

Sadly, 1 in 5000 are like him.

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That is really cool! What an innovative way for them to get people to think a little greener. There are a handful of states in the US that have a deposit program for cans and bottles. I live in one of them. While most states have a $.05 deposit, we have a $.10 deposit. The biggest difference is you have to pay the deposit on the front end just to get it back when you recycle it.

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Cool that the US is getting into the deposit train. In Germany it is all over and the deposit for single use bottles is €0.25 which is $0.3 and for reusable €0.08-€0.15 which are about $0.1-$0.18.

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Oh dang, that is pretty good! Michigan has been $.10 for as little Ng as I can remember, so at least 40 years! 😛

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