Plans are underway in Hull (officially “Kingston upon Hull”), England to develop that city’s first digital currency to tackle poverty, reported the Hull Daily Mail.
According to the newspaper, HullCoin is a loyalty points system in which people can accumulate credits by making a positive contribution to society. The program would allow people to pay council bills or buy clothes, for example, as a reward for voluntary work.
The initiative was first announced nearly a year ago but further details were revealed at a recent workshop, said the Hull Daily Mail.
David Shepherdson, of the non-profit company Kaini Industries, which was founded to develop HullCoin, told the newspaper the project has strong potential.
“We see HullCoin as a way to address poverty through positive action,” said Shepherdson, who noted the project will roll out officially in October. “Hull is one of the first places to look into a solution like this to fight poverty, and if it proves a success, it is something that could be rolled