This week Hull City Council (HCC) became the very first UK local government to introduce a local cryptocurrency… the HullCoin.
In an interview with Coindesk.com, Dave Shepherdson, the Financial Inclusion Support Officer for HCC, explains how mining a cryptocurrency can work as a way to add value to the local economy; protecting local businesses by creating a system where money stays local and is not filtered off through national companies who have no significant local ties.
Not only does the currency strengthen the local economy, it also protects the interests of the poorest and most vulnerable local residents. As Dave Shepherdson says :
“It’s about people on low incomes, in financial distress, being able to subsidize to an extent and compliment their incomes through undertaking activities that will be linked to the things in field of finance. [Futhermore] it can be used to instigate voluntary activity, or it can be issued close to the point of demand for a service which would help them, which they would not normally have the ability to pay for.”
Doncaster, like Hull, is one of the poorest areas in the UK. Unlike Hull we do not, as yet, have a forward thinking, locally minded, resilient and self-reliant plan in place for the (all-too-uncertain) future of our town. So let’s get off our arses and make one!
Click here to download and display the poster if you agree!
Luckily groups like DUG (Doncaster Urban Growers), PermaFuture and the Doncaster Maker Group have been working on various projects which have the potential to make Donny’s economy – and ecology for that matter – more localised and sustainable. Why not pop along to DMG’s meeting at Church View this Thursday to get involved with changing the future of our town! 😉