Greek Island Agistri Drachmae Ecosystem Launched

Nautiluscoin have announced the successful launch of an entire economic ecosystem, with the Nxt blockchain based ‘Drachmae Ecosystem’. With a name based on the old Greek drachma, it is no surprise that a Greek island – Agistri – has been the initial user. However, Brian Kelly Capital (BKCM LLC) intends to roll out this system to other countries, focusing at first on developing micro-economies located in Africa and Latin-America.

Since the 26th September 2015, Agistri have put the Drachmae Ecosystem, with the Drachmae Project, to a number of uses, including an Athena Top Model competition, their launch event and payments to local businesses. Supporting these transactions is a Nautiluscoin backed mobile banking system, B2B ecommerce platform and travel-booking site.

Focussing on the businesses, citizens and visitors of the economy, the aim of Nautiluscoin is to use cryptocurrency and blockchain technology to introduce money to an economy, to benefit the community, thereby showing how it can drive economic growth.

Launching the Drachmae Ecosystem was a large event on the 26th September where attendees and press were given Nautiluscoin (equivalent to €100) to spend at the barbecue and at local businesses. Also featured at the launch was a Hackathon event for developers to explore the system and to create apps, as well as a televised fashion show.

Built using the Nxt platform for its technical capability, security and community support, the Drachmae Ecosystem started using Nautiluscoin but swapped to the Nxt monetary system. The Nxt Foundation assisted with the coin swap that began on 18th September 2015 and will also be assisting with the structure and operation of the Nautiluscoin community.

Brian Kelly, of Brian Kelly Capital, said:

With this technology we can deploy a fully functioning economic ecosystem which includes a banking system, a commerce platform and a currency. We are excited to be a part of this revolution. The new entity will be focused on deploying this technology to other countries, municipalities or organizations that need a fully functioning micro-economy.