Vatican may launch a “blessed” cryptocurrency, taxed in favor of world poor. A proposal was made for the Holy Sea to use its “blessing power” over a bitcoin-like currency with a built in cut taken from the recipient of the currency in any transaction. The cut will be marked as Vatican Owned, and convertible per its current rate to any fiat currency which will be managed by the Pope apparatus towards help and support for the poorest people on earth.
The idea is to promote the “Catholic Bitcoin” in churches world wide, white-wash it from the shady reputation that stains bitcoin and attract hundreds of millions of worshippers that would never touch bitcoin, but rush to trade with the Pope’s money. Being super-national, the Pope is a fitting “mint” of a cross-border currency.
The fear is that nefarious traders will continue their schemes, now under the blessing palms of the Pope.
A world-wide call from Holy Sea, echoed by hundreds of thousands of clergy around the world might create a flood of traders, a fast rising coin value, and a corresponding tangible support to the most needy. Also, a Vatican blessed currency will not be easily dismissed, nor vilified by central banks managing and manipulating legacy currencies and fiat currencies.
It is the “taxation void” of crypto currencies that attracts this initiative.