Portugal's CryptoEscudo Steps In as Rescuer
In the heart of Portugal, a group of four tech specialists, led by Apolo and his associates, have created a groundbreaking innovation - the country's first cryptocurrency, CryptoEscudo (CESC). This digital currency, inspired by the success of Auroracoin in Iceland, is set to make a significant impact on Portugal's economic landscape.
The creators of CESC have ambitious plans for their creation. They aim to reach a value of $265 million, a sum that could potentially pay off a portion of Portugal's national debt. To achieve this, they plan to promote CESC and educate the public about its purpose.
However, the Bitcoin community in Portugal initially viewed CESC as a threat to the value of Bitcoin. This perception, however, seems to be changing as the CESC team receives growing media attention in Portugal, which benefits their branding and spreads knowledge of CESC to a larger portion of the Portuguese citizens.
The long-term goals for CESC are far-reaching. They include not only paying off a significant portion of Portugal's national debt but also boosting the local economy and making CESC easy to understand and use. The short-term goals are more immediate, focusing on gaining local support, international attention, and finding investors for larger projects.
To increase interest in CESC, the team is planning to integrate various services such as web hosting, domain purchasing, an automated payment system, and an Android wallet. They have also hired a professional team to help promote CESC and educate the general public about their goals with the coin.
The overall reaction towards CESC by the community has been positive, despite the large premine, due to the team's transparency and the coin's potential interest to people outside Portugal, particularly in Brazil and multiple African countries. The funding for these projects will come from the CESC team's own pockets, using their Bitcoin mining profits.
Portugal is currently grappling with an economic crisis, marked by massive debts, high unemployment, and uncertain future prospects. The creators of CESC aim to use the cryptocurrency to help alleviate this crisis, including paying off a portion of the country's public debt.
It's important to note that there is no publicly available information about specific individuals or institutions that have financially supported the CryptoEscudo cryptocurrency from Portugal. However, the positive responses from people not familiar with cryptocurrencies in general suggest a promising future for CESC.
As CESC moves forward, its team plans to improve their public relations and marketing efforts. The future of this innovative cryptocurrency could hold the key to Portugal's economic recovery.
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