Belfast City Council and Colu, a UK based tech company announced a partnership to launch an innovative city currency. Known as Belfast Coin, it is designed to empower residents, local businesses, city authorities and partners, bringing them together to help Belfast develop and thrive. In particular, Belfast Coin will be deployed to boost the city economy and help meet environmental goals.
Belfast Coin will operate as a rewards platform, encouraging the Belfast public towards impactful behaviours to further improve the city. Residents will accumulate Belfast Coins in return for activities such as shopping at local businesses, volunteering, civic activity and beyond. By motivating Belfast residents to make a positive difference, the Belfast Coin will strengthen their connection to the city they live in.
It will be accepted as payment at local businesses across the city, including shops, cafes, restaurants and more. Residents will be required to simply download the app and connect a payment card as a source of payment. Belfast Coin is the UK’s first city-wide digital currency designed specifically to encourage positive everyday activities.
“Belfast Coin will make a tremendous contribution to the city’s development Ecenomically, socially, environmentally and beyond. Just as importantly though, Belfast Coin will bring all the different elements of the city closer to each other, by empowering residents, businesses, NGOs, community groups and educational institutions to work together towards the same goals,” said Amos Meiri, Colu’s CEO and co- founder. “By utilizing Colu’s innovative technology in this way, Belfast is demonstrating that it is a forward-thinking, exciting and ambitious city.”
“As Belfast looks to the future, a chief concern will be maximizing important assets like its high quality of life, while reducing a range of challenges including the social and economic disparities which exist between residents. The Belfast Coin is an innovative example of how the city, throughout its resilience process to date, has partnered with its public, private, and individual stakeholders to catalyse inclusive economic growth and build a strong future for the entire urban community,” said Lina Liakou, Managing Director for Europe & the Middle East at 100 Resilient Cities.
Belfast Lord Mayor Councillor Deirdre Hargey said: “Being selected to be part of the city currency challenge means an important opportunity for Belfast, and I’m delighted that this has been made possible through our partnership with 100 Resilient Cities, and working with Colu.
“Belfast Coin will be introduced later this year and it’s our hope that it will initially give an economic boost to local businesses, as well as helping Council achieve other long-term goals, including environmental. This challenge gives us the opportunity to explore how a city currency can bring residents, businesses and city partners together to support inclusive growth a key priority within our Belfast Agenda. It’s also really exciting to be working alongside other global cities to learn from each other about urban problem, solving and sharing best practice.”
To access Belfast Coins, local residents will simply be required to download the Colu app. Meanwhile, local businesses interested in pre-application for using Belfast Coin are encouraged to register now by visiting www.colu.com/belfast