The city of Marbella in the sunny Costa del Sol in South Spain was the first city to open a Bitcoin Flea market back in March 2018. The city has doubled up the initiative by becoming the first city in Spain, probably Europe to launch its own cryptocurrency, Marbella Coin.
The announcement on Tuesday, January 22, 2019, confirmed that the project was launched by the Marbella Blockchain Cultural Association. The group of blockchain enthusiasts has developed the Marbella chain aiming to use blockchain technologies to unite the people of the city.
The Marbella blockchain and coin initiative are set to improve the daily interactions in the city as well as offer better systems as explained below.
Importance Of The Marbella Blockchain To Marbella City
The Marbella chain is expected to increase the economic activities and boost trade within Marbella. The coin holds due importance to the city as the people in Marbella adopt the use of the coin. Furthermore, the immutable and transparent nature of blockchain technology enables users to create smart contracts and draft digital agreements. This is of importance as it allows trade to happen seamlessly as the contract executes once the contract terms are met by both parties.
Finally, the Marbella chain allows developers to create their customized decentralized applications (dApps) on the platform. The applications are run autonomously on a distributed network while storing the data permanently on the blockchain.
The Marbella Coin
According to CryptoNinjas, 1% of the Marbella coin has already been pre-mined to which half will go to the development team and the rest will be distributed to the public. The Marbella Blockchain Cultural Association comprises 79 associate who will share the first half. The public distribution will happen on a dApp online faucet.