Canadian City Launches Local Crypto

The Canadian city of Calgary has launched its own cryptocurrency to allow holders to pay for goods and services at local shops.

The Calgary Dollar was originally launched in 1996 with citizens and businesses offering goods and services in exchange for the local currency alongside the Canadian dollar. This new move in 2018 allows citizens to download an app and store the digital currency on their devices.

Officials expect that the Calgary Dollar could support small businesses and nonprofits by keeping funds within the city.

Calgary Dollars work through a smartphone app that lists shops and restaurants that participate in the program. One way to obtain the currency is by posting ads for goods and services that users want to sell in the app or on project’s website for Calgary Dollars, receiving a small amount of the digital currency in exchange for posting the ad.

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