Belfast to introduce digital currency that lets residents earn rewards to spend in local shops NFCW [Video]

Belfast City Council has partnered with Israel-based Colu for the launch of Belfast Coin, a city-wide rewards and payment platform that enables participants to earn rewards for taking part in ‘good citizen’ activities such as shopping at local businesses, volunteering and recycling.

Colu’s mobile payment app already operates in east London and in Liverpool in the UK and in Haifa and Tel Aviv in Israel. Belfast, however, will be the first city to include the ability for users to receive a reward for positive actions, such as spending locally and boosting the environment, Colu told NFC World.

Once the digital currency goes live later this year, residents in Belfast will be able to download the Colu app, which is powered by blockchain technology, and register their details to start earning Belfast Coins.

Each ‘coin’ will be worth £1 and can be used to buy items in participating shops, restaurants or …