How digital currencies can support the local community.
Communities can reward citizens for their positive contributions to society through crypto-currency tokens that can be ‘spent’ to support the local economy.
Communities can now encourage citizens to make positive choices for the environment, health or the local economy – with easy-to-use digital Koins that can be spent locally. Welcome to Koins in the Community!
Instead of driving his car to the bus stop, Jack uses a bike provided by his local community. He will receive 10 Koins that he will use to pay for his bus ride into the city – the whole trip is free. He can do a little something for the environment, and maybe even get fit!
Emilie is more than happy to spend the Koins she has earned on locally produced goods and services. Payment with her smartphone is quick, secure and easy using a QR code or NFC.
What have you done today to make you feel proud? Look out for digital currencies for communities – they are coming to your town soon!
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.
