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Italy’s Planned Mini-BOTS Draw Comparisons To ‘ICO Utility Tokens’

Italy, which is suffering from a crippling debt crisis, is constantly seeking a way out of the red, but its populist government has failed to strike any form of deal with the European Union.


The right-wing administration made bold spending promises to the electorate when it rose to power, but has been on a collision course with Brussels ever since.


The latter is demanding Italy decrease its debt, and the Liga and Five Star Movement parties now think they have a solution: mini-bills of treasury (mini-BOTs).


Essentially a parallel currency – illegal under EU law – mini-BOTS would allow debts to be paid and more freedom for Italian taxpayers hungry for a way out, the government argues.


However, despite the issues surrounding the euro, commentators have already decried the concept of mini-BOTS due to the lack of any meaningful value supporting them.


Read More at Bitcoinist


#Italy


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