Naples' mayor looking to gain autonomy through a municipal cryptocurrency

04 Sep, 2018
by Richard Allen
Naples' mayor looking to gain autonomy through a municipal cryptocurrency

Mayor of Naples, Luigi de Magistris has posted a long and passionate post on Facebook in which he pledges to launch a municipal cryptocurrency that, he says, will free the city from “anti-southern discrimination” and “unjust debt,” CoinTelegraph reports.

De Magistris explained that the cryptocurrency would be rolled out in three phases that would see Naples, the regional capital of Italy’s southern Campania region, reclaim its fiscal and political autonomy.

While the mayor didn’t go into detail regarding the specifics of the process, he did succeed in stirring up some excitement. However, Chepicap reported that de Magistris had previously discussed the likelihood of the city launching its own virtual currency and even formed a focus group. Details of the group’s progress can be found on the city’s website.

Italy’s north and south regions have been divided for some time, and the mayor’s latest post serves to contextualize his vision for a municipal cryptocurrency that will empower the southern city.

In his opinion, the central government has been working with the north to the north’s advantage. Additionally, the mayor notes that the push for greater local power was preempted by the north, saying “the separatist’s screamed first.”

“In the face of a government with evident anti-southern traction, faced with the strengthening of the Lombardy-Veneto axis… they are already working to divert most of the resources towards the rich, giving alms to the South… we must launch a historic challenge, never thought up and implemented so far.”

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