Russian Town Adopts Its Own Cryptocurrency to Replace Ruble

Farms and businesses in the town of Kolionovo are adopting a new crypto-token, the Kolion, in loo of the ruble to transact. Kolion: A Response to a Shaky Economy Mikhail Shlyapnikov is a banker turned farmer that ran into issues when he tried to take out a loan out for his farm. Banks were charging absurd 12% interest rates for small business loans. Instead, he opted to create his own currency that was to be<br />Read More<br />The post Russian Town Adopts Its Own Cryptocurrency to Replace Ruble appeared first on Bitcoinist.com.

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