VyprVPN Review 2019: A Popular No-Logs VPN Service, Any Drawbacks?

3m
block

JPMorgan Warns Investors Of ‘Overpriced’ Bitcoin And...

3m
bitcoinist

SealBlock Crypto Asset Secure Ecosystem has launched

4m
cryptoninjas

mBitcasino Announces Support for FIAT Currencies

9m
coinidol

First Since 2017: Bitcoin Price Logs Double-Digit Gains for Third Week

19m
coindesk

T-Minus 1 Day Until SEC VanEck Decision: What Could Happen?

21m
cryptodaily

Google Suspends Business with Huawei After Trump Blacklisting

26m
cryptonewmedia

Blockchain Startups Transform Agriculture Projects in Italy

39m
coinidol

Bluzelle launches decentralized data delivery network

1h
cryptoninjas

Grayscale CEO on Recent Bull-Run, “This Time it’s Different”

1h
cryptodaily

Bitcoin hugs the $8000 mark after a mighty recovery on the weekend

1h
coininsider

Top 7 Cryptocurrency Lending Platforms in 2019

1h
nulltx

Bitconnect ‘2.0’ Claims Binance Listing for July Launch –

1h
cryptonewmedia

Bitcoin [BTC] enthusiasts discuss recent price surge, state of crypto-ecosystem |

1h
cryptonewmedia

Bitcoin Has Soared Above Intrinsic Value During Latest Rally, JPM…

1h
cryptonewmedia

Bytecoin Undergoes Long Awaited Hardfork

1h
cryptonewmedia

Facebook Registers New Fintech Company in Geneva

1h
cryptonewmedia

Bitcoin Airs on 60 Minutes; 'Bitcoin' Google Searches Hit 14-Month High; Binance Recaps Hack

1h
cryptoglobe

Crypto Confidence Rising As BTC Surpassed $8k

1h
cryptodaily

JP Morgan Confirms Bitcoin Price Surge Mimics 2017 Bull Run

1h
coingape

Bitcoin [BTC] proponent Antonopoulos says borderless censorship resistant form of identity is…

2h
cryptonewmedia

Tom Lee: Bitcoin’s Move Back to $8,000 Confirms The End of Crypto…

2h
cryptonewmedia

Bitconnect ‘2.0’ Claims Binance Listing for July Launch…

2h
cryptonewmedia

BTC/USD May Break Down $7,812 and Target $7,440

2h
cryptonewmedia

Binance Coin (BNB) Hits All-time High

2h
investinblockchain


Belfast Coin: Northern Ireland’s Capital Set to Introduce its Own…

Belfast, the capital city of Northern Ireland wants to issue its own cryptocurrency as the digital currency trend continues to spread, Public Technology reports May 14, 2019. Belfast’s City Council plans to use the cryptocurrency as a way of encouraging residents to patronize local merchants and also to promote a sense of civic duty among the population.

Reports indicate that Colu – a tech firm based in Israel developed the cryptocurrency for the Belfast City Council. There are already plans to launch the Belfast Coin later in 2019 for which project teams are running tests at the moment.

The city administration wants to use cryptocurrency adoption as a way of boosting the economy of Belfast while creating a societal landscape that encourages greater participation from all stakeholders involved.

Grainia Long, the city’s Commissioner for Resilience says that the Council will invite business owners to participate in the project, allowing consumers to make purchases using Belfast Coin. Commenting on the project, Long declared:

“Belfast Coin will be introduced later this year and it’s our hope that it will initially give an economic boost to local businesses, as well as helping the council achieve other long-term goals, including environmental improvements. This challenge gives us the opportunity to explore how a city currency can bring residents, businesses and city partners together to support inclusive growth.”

The project also includes an app which users will have to download upon the launch of the cryptocurrency. Residents in the city will earn points by patronizing local stores, volunteer work, and other civic duties.

Belfast joins the likes of Seoul and Dubai as major cities looking to launch their own cryptocurrencies as a way of boosting their respective local economies. Back in 2018, Seoul Mayor, Park Won-soon announced that the city had plans to create S Coin–a cryptocurrency for use within the South Korean Capital.

If Belfast’s plans become a success then it would be a break from the norm as far as state-issued tokens are concerned. The bear market of 2018 hasn’t been particularly kind to many locally focused cryptocurrencies created to spur internal economic revival.

Colu, the team creating Belfast Coin also developed a similar cryptocurrency for the city of Liverpool back in 2016. However, this project failed to gain any kind of foothold following the devastating and prolonged bear market period that characterized 2018.

City councils aren’t the only ones dabbling into cryptocurrencies. Large banks and corporations like JPMorgan, Samsung, Facebook, and Nike have also announced plans to create their own cryptocurrencies.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments