Koins and the community.

How digital currencies can support the local community.

Illustration Koins and the Community

Communities can reward citizens for their positive contributions to society through crypto-currency tokens that can be ‘spent’ to support the local economy. 

Fact or fiction?

One of the post-Covid purchasing behaviours that seems to stick is the local shopping trend: more and more consumers prefer to buy from local stores or locally based products. Payments can also be used as a tool to encourage this trend. For instance, through the use of local digital currencies, citizens can be rewarded for shopping locally.

Koins (or cryptocurrency tokens) are a type of digital currency that is trackable as well as programmable. This means that communities can decide very specifically where and on what the Koins can be spent.

The technology behind cryptocurrency tokens is based on the Digital Currency solution and is already being used in some specific cases. But it’s not linked yet to a local environment.

In some countries however, usage and interest in local digital currencies is growing and in a near-future, we could imagine the possibility to have Koins serving the local community.

Business maturity meter

Timeline Koins and the Community