Summary
The Polish town of Mińsk Mazowiecki is launching a stablecoin called MinsCoin that can be spent at local businesses. MinsCoin is part of the UrbanChange platform, which creates USDC-backed stablecoins for local use in cities. The currency aims to provide a new way for people to engage with local businesses and community projects. UrbanChange expects that more businesses will join MinsCoin in the future. The platform plans to launch coins in other European cities and Jerusalem. UrbanChange’s LocalCoins can be earned by participating in initiatives that achieve desired social or economic goals. Whitelisted businesses can receive payment in LocalCoins and increase token circulation by transacting with other whitelisted businesses. The development roadmap includes plans for deployment on Ethereum layer-2 solutions.
Key Points
1. The Polish town of Mińsk Mazowiecki is launching a stablecoin called MinsCoin that users can spend at local businesses. This initiative is part of the UrbanChange platform, which aims to launch USDC-backed stablecoins for local use in cities.
2. MinsCoin will provide a new method for people to engage with local businesses and community projects, potentially impacting social interactions, economic participation, and community solidarity. At launch, up to 10 businesses in Mińsk Mazowiecki will support MinsCoin, with more expected to join in the future.
3. UrbanChange, supported by Colu Technologies, plans to expand its digital currency program to other European cities as well as Jerusalem. Interested communities can launch their own local coins by contributing 5,000 UCT tokens, and individuals can earn these coins by participating in initiatives that align with desired social or economic objectives. Whitelisted businesses can receive payment in LocalCoins and increase circulation by transacting with other whitelisted businesses.