GreeceGreece has reached a point that was inevitable with the election of Syriza in January. A referendum on the status quo and political-economic hegemony of the ECB, the IMF and the European Commission. Greece faces a choice between externally inflicted pain in the form of austerity and neoliberal re-structuring and self-inflicted but self-determining pain.

Despite the tumultuous times the EU and global economy has endured since 2008, there is something to be said for European unity. If this unity means continuing down the same road with the same plans and the same cans being kicked is it really worth it?

There are ways that online payment methods can subvert and disrupt the Greek crisis. Greek citizens can only withdraw €60 a day from ATMs and cannot move money to accounts abroad, online banking is still available to use. Greece depends heavily on tourism, this means that tourists can still withdraw relatively freely.

What if there was a mechanism that allowed Greeks and international visitors to trade Euros. Perhaps through Bitcoin? Bitcoin as a national currency would be an interesting concept. It would be hard to impose capital controls without shutting off the Internet, something of a no-no in the cradle of democracy.

It is true that there needs to be structural reform to the Greek economy. But relying on institutions such as the IMF or even turning to Moscow is not the answer. The IndieGoGo campaign to crowd fund the €1.6 billion IMF payment is misguided. The money should be used to bolster Greek self-reliance, become a renewable energy power house. Take advantage of those 2700 hours of sunshine per year.

Online payments are a step towards decentralized banking. They can cut out middle men. They just need the right infrastructure to go to work on.