Canada’s first local, digital currency launched in Calgary

It’s not real money, but you can spend it like real money.

Calgary is breaking new financial territory in Canada, becoming the first city to have its own local, digital currency.

Sometimes referred to as complementary currencies or micro-currencies, local currencies operate alongside federal currencies — not as a replacement, Calgary Dollars manager Gerald Wheatley told HuffPost Canada.

“A complementary currency has lots of benefits, from saving your federal dollars, to making connections in your community, to shopping at and supporting local businesses,” said Wheatley.

Unlike cryptocurrencies such as Bitcoin or Ethereum, Calgary Dollars aren’t bought or cashed out. Users can earn Calgary Dollars by posting ads for goods or services they would like to sell, trade or barter for on the website or through the smartphone app. One ad earns $5. Taking surveys and referring new users are other ways to earn Calgary Dollars.

Here are some great books on local currencies and how they help the local economy:

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