Cryptocurrency adoption in Canada took a huge step this week, thanks to a development that occurred in the city of Calgary. The industry, despite a recent crash in the price of assets, continues to move towards mainstream uses and applications.

Calgary, one of the biggest and most prominent urban areas in Canada, has launched its own digital currency, known as the Calgary dollar. People that hold the mentioned asset will be able to pay for goods and services in local stores and shops, according to a report from an relevant news outlet in the nation.

Calgary is an important city in the province of Alberta, Canada. It has an estimated population of a little over 1,230,000, as of 2016, making it the third largest urban center in the North American country. Its economy is based on energy, financial services, television and films, transportation, logistics, technology, health, retail, tourism, aerospace, and manufacturing. The city hosts a myriad of large corporations.

Actually, the Calgary Dollar is an initiative that first came up in the nineties, specifically in 1996. People living in the city offered items, services, and other goods in exchange for the local coin. However, the 2018 version is naturally crypto-oriented, and citizens have the ability to download an app in their smartphones and save their Calgary Dollars directly in their mobile devices.

The Government Approves and Supports the Idea

There has not been another Canadian city or urban center to launch its own coin. And the best part of it all is that the government authorities in Alberta are supportive of the initiative, which provides Calgary with a unique element that is sure to make it famous around the world.

With the intention of maintaining money within the city, the Calgary Dollar will be there to support financial activity in small businesses and nonprofit organizations, according to recent reports.

The currency works thanks to a smartphone app, which manages a list of stores and shops that are part of the system. Some restaurants and dining centers are included, as well: people in Calgary will be able to use Calgary Dollars to pay for their meals or make contributions to some of the many nonprofit charitable organizations in the colorful city. There is also the chance of acquiring local transport tickets.

How to Earn Calgary Dollars

The Calgary Dollar can be earned in several ways: one of them is by posting ads for items, services, and goods that people using the app want to sell on the initiative of the page, getting Calgary Dollars in return. People can also recommend the currency to their peers, generating a profit. Also, Victoria Park is giving away is promoting the use of the local coin by offering people cash back in exchange of Calgary Dollars.

Small and medium business owners and entrepreneurs in the city will be able to pay up to 50 percent of their business licenses with the new smartphone-powered currency. Other locations have begun to consider the application of a local coin. One of them is Mongolia, which has plans to issue “Candy,” an e-currency. Dubai is another example, thanks to a government alliance with a blockchain-based company that supplies payment services.

By Andres Chavez

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