Calgary was the first Canadian city to launch a digital version of the local currency. The Calgary digital dollar will be used exclusively in Calgary (Alberta) and will be traded on a par with the federal currency, the Canadian dollar (or Loonie, as it is called by the people).
The launch of the digital dollar Calgary officially announced the Minister of Finance of the province of Albert Joe Chechi.
Celebrating our digital launch! #yyc #belocalyyc @CalgaryDollars pic.twitter.com/TPjJ7eMBX7
– Calgary Dollars (@CalgaryDollars) December 8, 2018
The predecessor of the Calgary digital dollar is the Calgary dollar, created on the initiative of the city authorities, small business and non-profit organizations. Since 1996, when the Calgary dollar first became available, this “auxiliary” currency was used to help local businesses, ensuring that profits generated within the local economy remain in the ecosystem. All businesses in the city must accept at least 10% (maximum 100%) of payments in this currency.
Announcing the launch of the digital dollar, Chechi expressed the hope that the digital currency will continue to stimulate growth in the local economy. According to him, the authorities of the province of Alberta strongly support the Calgary dollar, and intend, in the same way, to support the new digital asset.
It should be noted that the Calgary digital dollar will be different from Bitcoin and its analogues. It can not be bought, like the "classic" cryptocurrency , but you can get in the form of fees for writing reviews, for attracting new users, as well as for publishing advertising sales, trading or barter on the Calgary Dollar website, or for payment using fiat Canadian dollars.
As a reward for all these operations, users will receive a digital currency with which they will be able to pay for tickets, groceries and other goods and services. In addition, in digital currency, it will be possible to make donations to Take Action Grants, a local community funding project.
It is noteworthy that the Calgary digital dollar is similar to the digital currency E-Ora, which was tested this year by residents of the Orania settlement in South Africa. Linked to the South African rand, the E-Ora token is released by the Chamber of Commerce of Orania. The coin has appeal exclusively in Orania, a city with a population of 1600 people. All of them are Afrikaners, descendants of colonists of Dutch, German and French descent.
South Africa's Secluded Whites-Only Orania Community is Testing a Digital Currency https: //t.s/SXeSWF6AFs
– CCN (@CryptoCoinsNews) July 21, 2018
