If ICOs initially made their name as a way for tech firms to raise money, their adoption is rapidly expanding to other kinds of projects.
In recent months, groups from across the political spectrum have been expressing an interest in tokenising their movement. This year has seen the rise of a so-called “alt-right” coin and a coin for the LGBT community. Now, it seems, the issue of Catalan independence has been thrown into the mix.
Launched by an anonymous group of developers from Tarragona and Barcelona, the Tabarnia coin (TAB) has an explicitly political goal, namely the undermining of the Catalan independence movement.
According to its website the TAB will publicise the “oppressions suffered by the non-independentists in Catalonia” and fund organisations who promote “coexistence or bilingualism.” By having its own currency, it is planning to support “projects that promote Tabarnia.”
Tabarnia is a fictional entity within Catalonia, and widely seen as satirising the Catalan independence movement by turning the separatists’ arguments against them. Comprised of Barcelona and Tarragona, the region contains a plurality in support of remaining Spanish. Should Catalonia ever become independent, they will demand a referendum to rejoin Spain as a new autonomous community.
One million TAB tokens will be minted, of which 85% will be made available in its ICO. Ten percent will be held behind to guarantee the project’s long-term stability with the remaining 5% used for marketing.
Catalonia already has several of its own, independence-promoting coins including the Croat. The Croat team, also anonymous, say that they are currently “waiting for confirmation from several exchanges” on when it might be listed.
Whilst tokenisation of political sentiment gains no specific benefit from blockchain technology, the phenomenon does seem to fulfil at least one prophecy laid down by Bitcoin exponent and intellectual, Andreas Antonopoulos, who has previously argued that tokens are likely to be adopted in the near future as a medium of communication and an extension of personal and group identity.