Belfast City Council Digital Currency

Belfast City Council set to launch UK's first incentive-based digital currency.

20:37 12 May 2019

Belfast City Council has announced plans to launch digital currency as a means to reward its residents. The move is part of Belfast’s participation in the Rockefeller Foundation’s 100 Resilient Cities’ scheme.

 

Developed by an Israeli company, the technology will enable residents to accumulate currency for activities such as volunteering, healthy living, shopping at local businesses and participating in civic work.

 

Belfast Coin can be obtained by downloading and connecting an app to a payment card. Initially, the currency scheme will work by encouraging users to shop at independent businesses in the city’s Cathedral Quarter. The council will work to sign up large employers, businesses and higher education institutions.

 

Lord Mayor Deirdre Hargey said: "Being selected to be part of the city currency challenge means an important opportunity for Belfast.

 

"Belfast Coin will be introduced later this year and it's our hope that it will give an economic boost to local businesses, as well as helping council achieve other long-term goals, including environmental."