Austin-based cryptocurrency encourages investment in local economy.
DigitalTown has launched a new, hyperlocal cryptocurrency called CityShares, that encourages Austinites to invest in local businesses to help boost local economy..
“It’s much like having shares of a company,” DigitalTown VP of Global Operations Frank Robles explained. Except in this case, shareholders will invest in the local business economy. “Citizens will be able to succeed individually, as well as they watch the city around them succeed,” he said.
the comany created the austin.city site for doing all kind of business, like ordering food for delivery, buying products made by local artists etc…, all using CityShares as a mean of payment. Robles says the goal is to create direct transactions between businesses and customers and cut out the third parties that charge small businesses big fees.
you can watch the video here ( via Facebook) :https://www.facebook.com/KXANnews/videos/10155562091138037/
Read more about CityShares at their website.