ADVERTISEMENT

Hungarian cryptocurrency to be launched in March

In Hungary

The Korona Development Team presented Korona, the Hungarian cryptocurrency, at a press conference at the weekend. The developers claim that it will differ from pseudo currencies, which are not suitable for actual transactions, according to a press release sent to the Budapest Business Journal. 

Korona was introduced as a new cryptocurrency over the weekend at an international press conference in Budapest. The new means of payment will be the cheapest to use for global purchases, its developers claim.

Blockchain-based cryptocurrency Korona was introduced by the Korona Development Team, led by Jean-Marc Stiegemeier, a former Wall Street financial adviser. Korona will be launched on March 26 in Switzerland, according to the press release.

Part of the business model of the Korona is a purpose-built bank and payment platform that will operate under the supervision of Swiss financial authorities. According to the developers, 90% of current cryptocurrencies are pseudo currencies, not suitable for any actual transactions, and this is why the exchange rate can change by several thousands of dollars in a matter of a couple of days.

According to the developersʼ plans, the system will also work as a global webshop, where sellers can upload their products and services. According to the business model presented at the press conference, Korona will allow buyers to find the most favorable offer worldwide.

ADVERTISEMENT

Over a third of Romanians worked less or lost jobs during pa... Analysis

Over a third of Romanians worked less or lost jobs during pa...

Lawmakers approve PIT exemption for under-25s Parliament

Lawmakers approve PIT exemption for under-25s

Treatment of pollen allergy during the COVID-19 pandemic  Interview

Treatment of pollen allergy during the COVID-19 pandemic 

Visegrad Summer School calls for applications Social

Visegrad Summer School calls for applications

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.