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Barcelona Mairie, led by the far left mayor Ada Colau, plans to launch a unique local currency in 2016 to promote and encourage local trade.

Residents and businesses will be able to purchase products and services at a discount or with some king of bonus or advantage. Council workers may also receive part of their salary in the new currency, at an exchange rate of one-to-one.

This currency will change hands mainly via smartphone. However, the Banque d’Espagne is already objecting, stating that it will be impossible to implement. Interesting. Let’s wait and see!