Canada Launches a Digital Currency to Increase Local Economic Activity
Canada become first country to launch the digital or virtual version of its local currency. Basically, Calgary city start this initiative to stop the waste of currency printing. Moreover, this move of the city is approved by Canadian finance minister. All things goes ethically while the city turn virtual currency.
The city first avail this as complementary currency has been used to assist local businesses by ensuring that what is generated in the local economy remains within the ecosystem. Businesses in the city are obliged to accept at least 10% of payment in the digital currency or as much as 100%.
The Calgary digital money cannot be buy or cashed out in the same manner as cryptocurrencies such as bitcoin. One of the best way of earning the digital currency is taking surveys or raising new users. The digital currency can also be found by posting ads aimed at selling, trading or exchanging goods or services on the Calgary Dollars website or via an app and disbursing for the service using Canadian dollars.
Users will then get a convinced amount of the digital currency as rewards which can accordingly be used to pay transportation tickets, grocery procurements and other properties and services. Additionally, the digital money can be contributed to Take Action Grants which funds local community projects. The City of Calgary also accepts Calgary Dollars as imbursement for license costs.