As part of our work with 100 Resilient Cities, we’re introducing a city-wide digital currency for Belfast later this year, following a successful application to be part of a global challenge.
Belfast Coin will be an incentive-based digital currency aimed at rewarding positive actions by residents, as well as encouraging economic growth and helping to achieve environmental improvements.
The initiative – a first for Northern Ireland - has been made possible thanks to Belfast’s membership of 100 Resilient Cities, a global network funded by the Rockefeller Foundation.
Earlier this year, we submitted our application and have worked alongside the Tel Aviv and UK-based company Colu, as well as a number of other global cities as part of the challenge.
How does it work
A city currency is effectively a reward or loyalty scheme. It will allow us to incentivise residents and reward positive behaviours eg for volunteering, recycling or shopping local.
Once the currency goes live later this year, users will be able to download an app and register their details to start earning Belfast Coin.
Each ‘coin’ will be worth £1 and the coins can then be used to buy something in participating shops, restaurants or businesses.
Following the official announcement by Colu in May, work is now underway to sign up a range of partners before Belfast Coin is formally launched later this year.
For more information about Colu's city currency, visit www.colu.com