Krystle M: Cryptocurrency In Norwegian City Becomes Official Medium Of Exchange In Worldwide First

Liberstad is a city in Norway that is known for having an anarcho-capitalist government. However, they have decided to make a major decision in their stance on cryptocurrency – to offer it as an official medium of exchange. According to a press release on February 12th, the city is releasing newly native crypto on the smart city platform, which is already supported with blockchain.

Founded in 2015, Liberstad was created after the Libertania project completed, which is run by the Liberstad Drift Association. This nonprofit group helps with the autonomy of the city-society without the former government interference. The freehold plots of the city were sold in 2017 for either Bitcoin or Norwegian krone. The report indicates that approximately 100 prospective residents chose to buy in by April of last year.

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