Ithacash creating ‘transition currency’ in Ithaca, NY

Ithacash creating 'transition currency' in Ithaca, NYIthacash creating 'transition currency' in Ithaca, NY

View of the east end of the Ithaca Commons from the corner of East State and North Aurora Streets.At 7.15

Ithacash – a company that aims to allow residents in Ithaca, New York to buy and sell with a new alternative currency called “Ithaca Dollars” – reached a key milestone earlier this month when founder and CEO Scott Morris used the company’s “TXT2Pay” system for the first time, reported the Ithaca Voice.

The system will soon allow Ithaca residents to text local merchants their payments directly, with entire transaction conducted digitally.

Morris told the Ithaca Voice the Center Cafe is the first local business to accept “TXT2PAY” payments, and he expects dozens of other merchants to be ready to accept Ithaca Dollars shortly.

“We’re on the verge of launching in earnest,” said Morris, “where anyone can create an account, have Ithaca Dollars on their phones, and pay one another with text messages.”

According to Morris, more than 100 businesses and non-profits signed a letter of commitment stating they would be willing to offer products

Read more ... source: CoinReport