Could Cyclos 4 be used by the Greek Government

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Could Cyclos 4 be used by the Greek Government

Post by simon »


I've been wondering whether Cyclos 4 could be used by the Greek government to set up a parallel debt-free Euro system. I've got a name for it - the N-Euro (for New or National Euro), and I've even set up a community using Cyclos 4 that you can find at

The dream would be that the Greek government could open accounts on the system for all Greek citizens. They could then pay a proportion of public sector salaries, pensions and benefits onto peoples' N-Euro accounts. Those people could then use their N-Euros to make payments to other Greek citizens and businesses.

The whole thing would be given value if the Greek Government decreed that it would accept N-Euros for paying taxes at parity with conventional Euros.

Could it work? It seems to me that it might, but it would require that a Cyclos 4 based system could handle up to 10 million users. Is this totally unrealistic? If so, what would need to change to make it workable?

(I imagine that everyone here can understand why this could be a real breakthrough. The day that a government backs an alternative currency by allowing it to be used to pay taxes, it would immediately guarantee that the currency had real value).
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