A hill of BeanCoins gives New Orleans bars new hope
Not another cryptocurrency but a crowdfunded collective helping the city’s watering holes stay afloat during the lean times of the pandemic
14 February 2021 - 07:53
Houston — New Orleans drinking holes are facing financial disaster as city leaders shut them down for Mardi Gras — their busiest time of the year — but a home-grown currency is offering a lifeline.
A local group called the Krewe of Red Beans launched a crowdfunded “currency” programme this week that’ll funnel cash to bars so they can stay afloat amid the city-wide shutdown. The cash-fronting mechanism is cheekily named BeanCoin but it’s not a cryptocurrency, since it’s not a digital currency and its value doesn’t fluctuate...
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