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Wales to Develop Local Cryptocurrency to Underpin Mutual Credit System

“Wales plans to test and subsequently launch its own cryptocurrency to boost the local Small and Medium Enterprises (SME) economy” writes Adrian Zmudzinski for The idea behind the project is based on the Sardex: a mutual credit system implemented on the Italian island and region of Sardinia.Williams also explains that just like Sardinia, the vast majority of the economy of Wales is fueled by SMEs, so the idea can boost the Welsh economy as well.The funding will cover both a consultation and a pilot program in North Wales.

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