The kolion is a
local currency
In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community curren ...
created to support the farmers of
Kolionovo, a small town located 125 km south-east of
Moscow
Moscow ( , US chiefly ; rus, links=no, Москва, r=Moskva, p=mɐskˈva, a=Москва.ogg) is the capital and largest city of Russia. The city stands on the Moskva River in Central Russia, with a population estimated at 13.0 million ...
. The currency gained notoriety after the creator of the currency, Mikhail Shlyapnikov, was arrested and the kolion was declared illegal tender in Russia.
History
The kolion was created by Mikhail Shlyapnikov in 2014.
The kolion is pegged so that 1 kolion is equivalent to 10 kg of potatoes
and 2 kolions are pegged at 10 eggs. Because the farmers of Kolionovo received
ruble
The ruble (American English) or rouble (Commonwealth English) (; rus, рубль, p=rublʲ) is the currency unit of Belarus and Russia. Historically, it was the currency of the Russian Empire and of the Soviet Union.
, currencies named ''rub ...
s only twice a year, the kolion was created as an alternative currency accepted only in Kolionovo.
In June 2015, Shlyapnikov was arrested and the kolion was declared illegal.
References
8. Russian Farmer Alters Rural Economy With Virtual Currency, as Moscow Watches Warily. by Thomas Grove. The Wall Street Journal, April 22, 2018
External links
A farm outside of Moscow gets a new chance at life in the crypto zone - RBTH
Local currencies
Currencies of Russia
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