Helping the Local Community with Crypto-Currency: A Case Study

Local currencies are a special form of digital cash that are used for payments within a contained geographical area. They are made feasible today with the aid of blockchain technology that assures their security, solves the double-spend problem and offers incentives for consumer participation. They can be attractive for small businesses, encouraging members of the community to engage in commercial transactions within the area. Consumers are motivated to support local merchants, while enjoying a simple way to pay and the possibility of earning rewards based on cryptocurrency. In this case study, key issues are explored in the local community of Tel Aviv.