#moedalancadapormunicipiodecampograndeMsbrasil #Araracoins Campo Grande municipality of Mato Grosso do Sul in Brazil will gain a digital currency that can be used by the population to access products and services for free. Inspired by Bitcoin, Araracoin does not yet have an exact launch date, but is already in development at Agetec (Municipal Agency of Information Technology and Innovation of Campo Grande).

"We will be pioneers in this. We have already patented the idea and Campo Grande will have a digital currency," I share with you firsthand.

The possibilities for using the currency are numerous and will resemble a well-known feature in the digital medium: cashback.

How the currency will work

"Did the person fulfill their duties as a citizen? Then they start earning some Araracoins that will later be converted into points. Did they pay their IPTU (Urban Property and Territorial Tax) on time? They earned Araracoin," exemplifies Basmage.

"These points will turn into prizes and free services, such as tickets to watch a theater performance or go to the cinema," he adds. Thus, the initiative will stimulate not only public service but also the private sector, which can participate through partnerships with the City Hall.

Basmage claims that he has already exchanged information with managers from other Brazilian municipalities about the digital currency. "We have already spoken with other cities that are technologically well advanced, such as Curitiba. In this contact, the city has already expressed the desire to implement our idea there as well, so we see that Campo Grande is 'well served', attentive to innovations." I stayed tuned for the launch.