Guadalajara launches its own digital currency

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The city will use Hoozies, which are blockchain-powered digital currencies, and allow people to redeem them for promotions at affiliated locations.

Guadalajara will have the first digital currency in Mexico, called Hoozie, with which the state capital f Jalisco seeks to promote the circular economy and encourage environmental and social causes.

Hoozies use blockchain technology and are generated through an app when citizens do charitable activities for the community and are later redeemed in specific establishments or with alliances.

Hoozies are not cryptocurrencies, since their parity is the same as the peso, becoming an instrument to generate incentives and create circular economies, explained Joel Myers, director of DOMILA LTD Ireland and world leader by the Institute of Electrical and Electronics Engineers (IEEE IoT Smart Cities).

The launch of this digital currency was promoted by the state’s Secretariat for Innovation, Science and Technology, HP, the Visitors and Conventions Office (OFVC), ANTAD, the University of Guadalajara (UdeG), DOMILA LTD, along with international associations.

The Ministry of Innovation, Science, and Technology contributed 1.2 million pesos for its development as part of the call for the innovation program in Jalisco 2020 “Jalisco COVID 19 Challenge” in order to support economic and social recovery from the effects of the pandemic.

The businesses affiliated with the program will establish promotions that can be paid exclusively with this currency and, by doing so, the user will again obtain a bonus in Hoozies.

Businesses will also be able to pay suppliers with this instrument. Users will generate this digital currency as soon as they register their profile and will continue to generate it with actions with a positive impact on the environment, charities, taking care of their health, and by expanding their network of contacts on the platform and even by providing mentoring and share your knowledge with others, among other activities.

Among the companies with which this currency can be exchanged is Netbus, which integrates 100 buses on five routes with more than 15,000 daily users.

Another way to get rewards with Hozzies will be while citizens walk or cycle on the roads every thirty minutes, in this way they will also seek to reduce the carbon footprint in the city.

Source: Grupo Expansion

The Guadalajara Post