The city of Calgary has announced the inception of Calgary Digital Dollars, making it the first city in Canada to create its own unique digital currency.
According to Global News, Calgary Dollars are powered by a smartphone app, which also lists eligible shops and restaurants in the program. These businesses are able to set how much of the purchase cost they want to accept in Calgary Dollars, ranging from 10 to 100 percent.
Additional uses for Calgary Dollars include donations for nonprofits, purchasing Calgary Transit tickets, and as a reward program through The Victoria Park Business Improvement Area. The smartphone app can also act as a classified site where users can sell items for the currency.
“You get five Calgary dollars for the first five ads,” Digital Dollars’ Gerald Wheatley told Global News. “It’s a lot better than other classified systems, you actually get paid to post on it.”