Hull City Council launches “HullCoin” cryptocurrency


It was bound to happen. After Dogecoin, Bitcoin, Coinye and all the other digital currencies we must learn to grapple with, Hull City Council has launched its own digital dosh.

The unprecedented step will see the forward thinking town, which is more commonly associated with the likes of Philip Larkin, launch “HullCoin”.  

HullCoin will be used as part of a poverty-tackling scheme in which struggling local workers carry out “voluntary” work and are given digital HullCoins in return.

The currency could then be used to pay for rent, council tax and food.

The council is currently investigating whether mainstream retailers such as ASDA could get on board with the plan and allow residents to use HullCoin in supermarkets.

Hull Council’s financial inclusion support officer David Shepherdson said: “The idea is that we’ll provide it to people on low incomes for them to pay for things that they wouldn’t otherwise be able to pay for, particularly food and fuel. It’s a very different sort of project.”

Follow us on LinkedIn

Now read:

Harry Cockburn: Centrica’s “blackout” threat is short-term posturing