Hungary Is Going To Launch Its Cryptocurrency In March

A new Hungarian cryptocurrency called Korona was presented by development Team. It will be a bit different from other currencies, which are not suitable for actual transactions.

The new digital currency Korona was introduced over the weekend in Budapest at an interntional press conference. The developers say, that the new means of payment will be the cheapest for global purchases.

Korona cryptocurrency based on blockchain technology was introduced by Korona development team, with the head of Jean-Marc Stiegemeier, who is a former Wall Street financial adviser. The new digital coin Korona will be launched in Switzerland on 26 March, the Budapest Business Journal says.

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 its exchange rate can change by several thousands of dollars in a matter of a couple of days.

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

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