An unknown project saw an increase of 116% thanks to the EU grant of 2.75 million euros

A little known blockchain project After the announcement of participation in a research program on the digital economy of the European Union, the value doubled overnight.

The spot price of the token Streamr (DATA) based on Ethereum increased by 116% until February 12, after it was revealed that The project would be used as part of an EU pilot project to create a new type of money.

Announced on February 11th, The ATARCA consortium received 2.75 million euros from the European Commission as part of an initiative to Eliminate the “economic inefficiencies” created by artificially limiting the supply of digital goods.

An unknown project saw an increase of 116% thanks to the EU grant of 2.75 million euros
An unknown project saw an increase of 116% thanks to the EU grant of 2.75 million euros

In a radical departure from one of the economic principles intended to give Bitcoin (BTC) some of its value, The program will seek to build a medium of exchange that gains value because it is shared and not scarce.

ATARCA would like to offer an alternative to the conventional economy with its concept “Anti-rival goods” that becomes more valuable the more they are used. ATARCA under the direction of the professor Pekka Nikander from the Institute of Communication and Networks at Aalto University in Finland, stated:

“The current economic system is not suitable for the 21st century, in which people are increasingly trading in abundant commodities with a finite medium of exchange. The term “competing goods” denotes a new theoretical category of goods which are characterized by abundance and which, in contrast to competing or non-competing goods, become more valuable the more they are used.

ATARCA proposes the creation of “anti-rival tokens”, will be tested in the next two-part pilot project together with Streamr, a live data transmission network for a P2P blockchain network. According to reportsStreamr is used to test the concept of sharing as a means of paymentUsing your real-time data exchange network as a sandbox:

“Unlike cryptocurrencies like Bitcoin, the value of tokens against rivals is not based on scarcity, but on underlying human relationships. Its value reflects the way relationships are built over time through repetitive interactions that by default benefit all sides of transactions. “

The first part of the pilot program will initially take place in Barcelona, With the city’s own digital social currency, the real economic currency. Streamr, an open source project founded in 2017, saw the value of its native DATA token rise to a three-year high after the news was announced. from $ 0.08 to $ 0.18 in less than 24 hoursaccording to data from CoinMarketCap.

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