Hull to issue local cryptocurrency

As reports from Great Britain suggest, Hull, a city lying east of Manchester, tries to support and boost the morale of local communities and social organizations by issuing a special cryptocurrency called HullCoin. One of the notable properties of this digital currency is that each coin is going to have some kind of mark which explains for what reason or in reward for what exact good action it was given. Another interesting feature of this altcoin is, while it will work in Hull, even there it will be blocked for use when buying alcohol and cigarettes.

Everybody involved in the project and interviewed by Financial Times are quite sure that this cryptocurrency is going to influence the future of the city in a positive way. The currency’s scheduled launch is January 2018, and here it’s better to remind the first time this idea came into minds of people responsible for the project was 2014. For now, HullCoin is in beta phase.

The idea of reward coins marked with the reason of reward could find many applications in other fields. For example, there can be some sports coins, or possibly, coins issued by video game designers so that in-game achievements started to mean something more.