Ithaca, NY Launches its Own Digital Currency to Boost Local Economy
A startup local currency has just launched the Ithaca dollar in Ithaca, NY, designed to not only promote investment in local businesses and bring the community together, but to also pick up where one of the most successful alternative currency experiments in the US, the Ithaca HOURs, has left off. The new Ithaca dollar is produced by a company called Ithacash, and for the moment is exclusively in digital form. The company founder, Scott Morris, is keen to keep local money within the local community. Local currencies “generate a lot of social and economic wealth,” said Morris to CNYcentral.....
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ChronoBank.io, a blockchain project aimed at innovating in the short-term recruitment sector, has launched a new website to promote the December ICO for its “time-based” cryptocurrency. According to the company, its “Labor Hour tokens” will allow employers to enter into profitable short-term recruitment contracts with new employees. In a press release, the team noted that their idea is simply a refresh of a form of money that has been used for centuries, with hundreds of “time-banks” issuing already existing time-based currencies. Developers pointed out Ithaca, New York’s time-based....
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The city of Kingston upon Hull located in the United Kingdom has released its plans to unveil a new cryptocurrency: Hullcoin. They first announced the digital currency, along with their plans to fight poverty in the region, over a year ago. Revelations of how the coin would actually operate were detailed by the local Hull Daily Mail, with a release date set for October. Hullcoin will be introduced as a local government-backed digital currency. In exchange for voluntary works with the city, citizens would then receive the coin like a digital rewards program. The project is lead by Hull-born....