Naples’ mayor looking to launch autonomous cryptocurrency to combat “unjust debt” and “anti-southern discrimination”

Luigi de Magistris, the mayor of Naples, wrote a Facebook post in which he pledged to launch an autonomous cryptocurrency.

In a long, passionate post, de Magistris declared that the city of Naples is looking to come up with a strategy in a bid to combat unfair debt and enfranchise the southern regions to bolster self-determination. He claimed:

Before a government with obvious anti-south traction, which is strengthening the Lombard-Veneto axis… and is working to hijack most of the resources towards the rich, giving only alms to the south, we must launch an historic challenge, never thought nor implemented so far.

Cryptocurrency tied to the economy of the city?

While the Facebook post didn’t go into much specific detail, the mayor had discussed plans to come up with a cryptocurrency that would be tied to the economy of the city, with the Municipal Administration’s workgroup for blockchain and cryptocurrency announcing their progress on the city’s official web-page.

A larger political strategy?

The controversial post is seen to be a part of a larger political strategy, especially considering that the main political prerogative of most leaders within the city of Naples has been to support southern enfranchisement and to push the idea that the southern region needs to be more autonomous from the ruling powers.

A politically free Naples

Luigi de Magistris believes that an integration of a new cryptocurrency will serve as a de facto protest of the ‘unfairness’ by the central government. The cryptocurrency will go a long way in helping Naples create more political and economic autonomy.

If Luigi de Magistris manages to pull through with the plans to have an autonomous cryptocurrency, it will be one-of-a-kind in the cryptocurrency space, as well as give the city of Naples the financial freedom he thinks the city has been yearning for.


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James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. He has been writing about crypto since he first learnt about cryptocurrencies in 2010. Initially, he was attracted by the disruptive economic and social implications of virtual currencies and blockchain technology, and over the years he has dedicated himself to learn everything he can about the industry.

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