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Russian Farmer Alters Rural Economy With Virtual Currency, as Moscow Watches Warily

Farmer Mikhail Shlyapnikov says the best way to revive the ailing economy in this remote village is cutting financial ties to Moscow. Mr. Shlyapnikov has launched a cryptocurrency, the kolion, named after his hamlet some 80 miles southeast of Moscow, buoyed by an initial investment of a half-million dollars from investors in Russia and abroad.

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Wall Street Journal
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