North Korea launches its own crypto currency?

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North Korea is now apparently also a crypto currency. The avoidance of foreign Penalties seems to be the main objective.

North Korea, China comes with crypto project earlier?

The motivations for States to play with the idea of the introduction of a private digital currencies, could hardly be more different. Venezuela’s Considerations to increase the Bitcoin or to create a own Coin, based on the economic problems of the country. Petro should, in many respects, for relief in times of rising Inflation. China seems to, in turn, with plans to Staatscoin to respond may also be under the name of Yuan – especially on Facebook Libra. The same is true for Germany, where the Blockchain strategy is of greater importance in the country as a crypto-site is to provide.

The government wants to make of the world community regardless

In the case of North Korea, however, the targets appear to be comparable with those of Iran. The latter said only, increasingly, Bitcoin Mining of the fight. The government of the country also attracts a Token in order to avoid sanctions from abroad. Currently in the network as “Kim’s Coin”, which has been termed a Token of North Korea should come, it would be also an approach, in particular US sanctions, undercutting the. According to rumors, it is a matter of fact, North Korea seems to be working on the implementation of a crypto-currency. The hope is that The existing dependence on the global financial system is dwindling as a result. On the part of the “Committee for cultural relations” open it, however, unexpectedly, was still at the beginning of the development work.

No information on the exact time frame of the Coins

Nevertheless, the running Blockchain plans on full swing in the Democratic people’s Republic of. The United Nations attest to in the North Korean projects, among other things, the objective of raising capital for the state Regime and past sanctions. A crypto-currency could particularly help the sanctioned vessel traffic in the country, more record. The underlying data of the fleet could be encrypted by a Staatscoin. Quite apart from the alleged Bitcoin competition, the country is to be the subject of criticism due to theft of digital currencies. To these allegations the UN has for a long time.

Featured Image: By Mirko Kuzmanovic | Shutterstock.com

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