New Yorkers may be known for their tough personas, but they care a lot about doing good for their city and their communities. The City of New York has always been a leader in addressing social and environmental innovation challenges. Due to the boom in a new concept, known as BITCOIN, there now exists digital tokens, which can be a revolutionary new concept for citizens to contribute to the City and themselves: something we could call, BigAppleCoin (BAC).
BigAppleCoin (BAC) could become a reward and loyalty coin for use by the NYC Government, based on Blockchain, the technology that powers BITCOIN. From recycling to green roofs or donating clothes, or doing socially responsible actions, this new token could be a reward system has the power to drive and reward positive change by incentivizing good behavior and sustainable projects.
Blockchain has been called the “internet of value.” It is a way to allow all to share information about assets of value. It’s a public digital ledger that allows all to see ownership and all related activity, by providing a trustworthy and transparent method of tracking, moving, storing, and protecting assets such as tokens and cryptocurrency. These token can represent money, commodities, insurance, real estate, and an endlessly long list of item. This technology has been present for more than ten years (Bitcoin), but what is new is the unlocking of a potential for that technology to drive positive actions from companies and people to make the world better.
Sustainable solutions are already in place with such successful ventures as SolarCoin, which rewards solar energy producers, and Brooklyn Microgrid, which uses blockchain technology to create a localized energy marketplace. Governments are also already using or testing Blockchain solutions in services ranging from citizenship identification, land titles, voting, welfare distribution, healthcare, taxation, and sustainability solutions. (https://breakermag.com/73-blockchain-social-good-organizations-that-are-actually-doing-something/)
Contributions to charities and other social causes can be supported by cryptocurrency, with many successful ventures already in place worldwide. Through a WFP program called Building Blocks, Syrian refugees in Jordan no longer need paper vouchers; they can buy food through the use of biometric scanners. All the information about the purchase is entered via the blockchain in a privacy-protected database.
How BAC could work in NYC
The possibilities for New York to be a leader in using Blockchain technology to promote socially positive actions is endless. For instance a ‘reward’ coin can be given to citizens who recycle electronics or donate food. Wheelchair-accessible taxis could be incentivized to take on more riders with disabilities by receiving a credit each time a rider with a disability uses a BAC enabled payment card. BACs could be used to promote sustainable practices, such a rewarding those who have green roofs, use wind or solar panels, or have home organic farms.
New York City already has Bitcoin ATMs, so it can set up recycling machines that issue credits and connect to organizations like Goodwill and The Salvation Army. Rewards could take multiple forms, from BACs being used for parking for tax credits, or a Groupon-like service where restaurants, in exchange for advertising, can offer discounts if bills are paid with BACs.
Long-term, this system could be extended as a monetary tool that replaces the paperwork and monitoring of Healthbucks, Food Stamps, and other existing credit voucher systems.
The possibilities are endless
The examples above just scratch the surface for how the lives of New Yorkers can be transformed by Blockchain. We look forward to seeing a real rollout of this service in New York and other cities around the country.
An independent vendor developed a sample website on how such a product could be used: https://suchitraravi.github.io/bigapplecoin/bigapplecoin/bigapple.html