Europe’s latest cryptocurrency, Korona, which its Hungarian founders claim is more stable, safer and cheaper than the others currently on the market, was launched in Budapest on February 15.
“Over the next few years we are going to see a revolution in the banking sector,” said Jean-Marc Stiegemeier, Korona’s head of management during the launch. “Within ten years cryptocurrency will be used and accepted worldwide.”
“Banking as we know it today will eventually evolve into different platforms. We started this project because we saw
“Bitcoin is slow and too expensive for businesses. It costs 20 US dollars for each transaction and it is not efficient for retailers,” Korona’s advisor and professor at the Corvinus Business School Dr Tuan Trinh explained. “The crypto economy 2.0 is based on three pillars: a digital payment platform, a crypto bank and Korona coin,” he continued.
But how does it work? According to Attila Bustya, head of technology development, an e-commerce website will be launched, hosting all those websites which normally do not accept cryptocurrency payments. Also, a new integrated Price Comparison System will be created so that users can choose their products for the best and cheapest price globally.
“For a top-notch phone we pay more in Europe than in the US, it is not fair,” he said, explaining the value of this new price comparison tool.
“Business clients today find it hard to use cryptocurrency because of high taxation and missing information. We are developing business wallets which will allow businesses to register and receive various services to support their compliance: support for VAT reporting, invoicing, accounting and such like,” he continued.
Korona’s ICO is scheduled for March 26, and it will be immediately available for payments and transfers.
Source: http://emerging-europe.com/in-brief/korona-europes-latest-cryptocurrency-made-hungary/
