HullCoins well spent? City's 'Bitcoin for volunteers' offers a new way to pay

[alyssa85]

http://www.theguardian.com/cities/2016/apr/22/hullcoin-bitcoin-volunteers-new-way-pay

HullCoin’s innovation has been to digitise these two well-established concepts, combining the value generation mechanism of mutual credit with the local spending power of community currencies.

But will it work? The technology has never been tested outside of the HullCoin office, let alone used to buy anything. Beyond that, will the currency’s high-minded aim of creating social credit from “good deeds” cut it in the real world? In this most hard-pressed of cities, can HullCoin provide an alternative to the depressing narrative of payday loans and benefit sanctions?

Well, I’m about to find out. I’ve been invited to take part in the first real world trial of the new currency. I’ll be the first person ever to earn and spend a HullCoin.

[BellaBitBit]

This is an interesting concept and I do a lot of volunteering in my community.   I like the theory behind the coin and hope in can translate into reality.  I will watch this one.

[alyssa85]

This is an interesting concept and I do a lot of volunteering in my community.   I like the theory behind the coin and hope in can translate into reality.  I will watch this one.

The success of it depends on shops etc accepting the coin. Otherwise it's just another coin that people acquire but can't use (apart from sell it on an exchange).