Lawmakers In Spain Get Cryptocurrency In An Attempt To Promote Industry

  • October 25, 2020
  • Bitcoin

Each and every one of the 350 members from the lower house of Spain received 1 euro equivalent in crypto and did not even consider this to be a donation. It was a surprise for all the people associated with the lower house of Congress.

Details on the Sudden Credit of 1 Euro Equivalent in Crypto

What happened, in reality, is that all of the 350 individuals got 1 euro or the almost same amount in crypto. They found this surprise has arrived in their inboxes. The reason behind this is quite simple. Not all people know of not only cryptocurrencies but the whole concept of the digital asset.

This surprise was just for making each and every individual of the 350 people aware of these digital assets along with their properties. During a time like this, cryptocurrencies can be a great help to make profits and also simplify other complicated tasks within seconds.

Report Made by the “Spanish News Outfit ABC”

On the basis of the report made by “Spanish news outfit ABC”, the plan was made and executed by the Blockchain Observatory and a decentralized establishment looking for tokenizing education technology known as Tutellus. The project targets to upgrade the usage of cryptocurrencies in the nation.

350 Members from the Spanish Lower House Unexpectedly Gets a Crypto in their Inboxes

Each one of the “350 members” of the “Congress of Deputies” or the “lower house of Spain” got 1 euro or the almost same amount in crypto in their email boxes. The founder of Tutellus Miguel Caballero said that the main goal is to increase awareness about the “future operation” of cryptocurrency in our society. He has stated that they have explained to the members that they are in a period of intense change in the utilization of money along with highlighting the significant role of crypto at the present time.

Why was the Amount Sent to Each and Every Member?

Miguel Caballero also said that the cryptocurrency was not a donation and admitted that a few Congress members might know facts about crypto. However, for the ones who literally have almost no knowledge about this digital asset, this becomes one of the brightest opportunities for them to learn more about it, Miguel stated. Also, the cryptocurrency gets a big chance to get promoted within a new group of people.

Spanish Banks are Quite Interested in the Crypto World

Banks in Spain have been showing extremely high interest in cryptocurrencies besides blockchain for the past few years. Ripple partnered with Santander for a payment platform that is based on blockchain. On the other hand, the “Banco-Bilbao-Vizcaya-Argentaria” (BBVA) has developed a study in order to explore zero-knowledge proofs and other cryptographic procedures.

The Declaration of the “European Central Bank”

The “European Central Bank” also made an announcement that it would be doing research on a digital euro by the next year. Apart from that, it has also launched a report diving into its potential effect on the retail market.

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