Another major city goes Crypto — Vienna token coming soon
With the mainstream Cryptos far from adoption in the financial ecosystem, other forms of digital assets like the cross-border payment coins, reward tokens & securitized digital assets continue to make their mark. The digital transformation taking place right now of which DLT is such an integral part is making its presence felt with the innovation taking place at public, private & government levels.
In December, I wrote about how the Canadian city of Calgary had introduced the digital equivalent of their localized ‘Calgary Dollar.’ This time we have another major city, Vienna, coming in the foray with a reward token called ‘Vienna token.’
The incentivization of citizens with digital tokens will not only make people comfortable with the use of such assets but increase the understanding of how they work, which will eventually help with the integration of mainstream Cryptos.
The coin has been conceptualized in collaboration between the City of Vienna & the Vienna University of Economics and Business — Research Institute for Cryptoeconomics, which established the Austrian Blockchain Center (ABC) in December 2018.
ABC consists of 21 scientific institutions, 54 companies, 17 associated participants, and 16 international institutions and companies. The research center will be…