Belfast City to Get Own Cryptocurrency
By Luke Flowers – Cryptocurrency Enthusiast
The Irish city of Belfast is introducing its own cryptocurrency, the Belfast Coin, as report by the Verdict. It is being dubbed the “UK’s first incentive-based digital currency” thanks to the collaboration between British-Israeli tech company Colu and Belfast City Council. It will act as a reward system for the residents.
Belfast Coins can be collected over a wide range of acts like volunteering for charity events, environmental preservation, and civil projects, as well as local business shopping. And those who earn these can cash out crypto or use it locally for shopping, cafes or restaurants.
The Belfast Coin is part of The Rockefeller Foundation’s 100 Resilient Cities project, which is established to promote positive daily activities and maintain the continuing development and use of local businesses. With the introduction of the coin, it is expected that Belfast’s economy not only gets a boost but also enables the growth of the community.
According to Amos Meiri, Colu CEO, and co-founder, “Belfast Coin will make a tremendous contribution to the city’s development: economically, socially, environmentally and beyond.” He believes that by providing the city with a means of earning these coins, users may be encouraged to buy and sell crypto increasing the adoption of the technology. They will then learn of the global benefits that could be gained from transacting with a cryptocurrency such as cashing out Bitcoin internationally with ease.
It is also expected that this initiative will bring about a positive effect on the citizens of Belfast, especially given its divided and upsetting history.
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