Prague is a major hub when it comes to alternative cryptocurrencies. At the epicentre is a building known as Paralelní Polis, part of a project set up by the guerrilla art group Ztohoven and home to quite possibly the first café in the world where you could buy a coffee using cryptocurrency. Recently that café, Bitcoin Coffee, hosted a Do-It-Yourself market to help start-up companies and entrepreneurs of all stripes sell their products using a range of virtual currencies.
Tomáš Vymazal used the power in the apartment he receives as a Pirate
Party MP to generate cryptocurrency, the news site Aktualne.cz reported.
Mr. Vymazal’s activities were given away by a major rise in electricity
consumption at the flat. The lower house deputy, who is 28, said his
powerful computers had helped to heat up the cold property on Nerudova St.
However, Mr. Vymazal also apologised and promised to give the money he had earned from generating the cryptocurrency Zcash to charity.
Number of Czech internet stores accepting Bitcoins for payments has
increased tenfold over the past four years to around 1,000, the Czech News
agency reported on Sunday.
Among the shops that started accepting the digital currency is Czech largest online retailer Alza, which has also installed a Bitcoin ATM in two of its showrooms. Last year, the Comfort Finance Group CFG established the first Czech cryptocurrency fund.
Prague is undoubtedly a hub for the use of the alternative cryptocurrency Bitcoin. But Bitcoin is now very much at a crossroads as some of its technological flaws start to catch up. A sort of civil war has developed around its future development with, as the cliché goes, only likely to tell who the victor will be.
One of the most famous more recent quotes about the nature of money is by the fictional Baltimore drug dealer D’Angelo Barksdale in the US series The Wire: “Money be green…” he says, “money feel like money!”, reacting to a scam where a buyer has passed poorly counterfeited bills. Money feels like money… except when it doesn’t. Money of the future will no longer be bills and will not be the digital money of today, either. Scientists at Palacký University in Olomouc have demonstrated that in all likelihood it will be quantum, ultra-secure and impossible
Last month Jan Hubík became one of the first people in the Czech Republic to have a microchip inserted in his body, specifically his left hand. Indeed the 20-something student was the organiser of a group implantation at Paralelní polis, a futuristic Prague institution where all transactions are in the Bitcoin virtual currency. When we spoke at the café at Paralelní polis, I asked Hubík what kind of chip he had in his body.
The guerrilla art group Ztohoven, known for their controversial projects and often operating in anonymity, have made a somewhat surprising move. At the end of last year, they opened an official institution, a so-called institute of crypto-anarchy. Situated in a former factory building in Holešovice, the Paralelní Polis or parallel world will serve as a hacker space, a hub and a bitcoin café. According to its founders, it will offer the public a possibility to “step out of the system”
The guerrilla art group Ztohoven, known for their controversial projects and often operating in anonymity, have made a somewhat surprising move. This weekend, they opened an official institution, a so-called institute of crypto-anarchy. Situated in a former factory building in Holešovice, the Paralelní Polis or parallel world will serve as a hacker space, a hub and a bitcoin café. According to its founders, it will offer the public a possibility to “step out of the system”.
Czechs this week joined other central and eastern European countries in rolling out a new virtual currency called Czech Crown Coin (the CZC), a local alternative to other virtual currencies like the worldwide Bitcoin. The aim is to provide a Czech alternative for transactions and to boost support for online business.