Ohio-based software company, Software Verde LLC, has been working with the local government of Dublin, Ohio for the last six months and will soon be releasing the first U.S government blockchain token using SLP, a protocol that uses the Bitcoin Cash blockchain.
The official token is still unnamed and will be used as a coupon to reward and incentivize positive behavior among citizens. Dublin’s token is not backed by any asset. However, its value will be given by merchants or vendors during the process. To minimize the hassle, the tokens are said to be in whole units which will not be divisible into fractional points. Dublin’s token will not require an exclusive app and the token will be compatible with SLP wallets, such as Bitcoin .com’s Badger Wallet.
Joshua Green, CEO of Software Verde, said,
“Community service volunteers may receive Dublin points from the city as an extra token of appreciation for their good deeds. For instance, these points may be redeemed for discounted entrance tickets to city-sponsored festivals (e.g. the Dublin Irish Festival), redeemed for city-branded swag, or used for priority entrance into sporting events at Nationwide Arena. Dublin’s token of value may also be used to digitize existing physical tokens used by the city.”