Vienna to Launch a Pro-Civic Token

Vienna to Launch a Pro-Civic Token

Austrian Capital Vienna is about to launch a blockchain token to promote civic behaviour across their population, according to news published by Trending Topics.

The Vienna Token is a reward system that will give prizes like theatre or metro tickets to people who do civic actions.

American economist and Nobel Prize in Economics Richard Thaler is one of the fathers of the project. Dr Thaler, together with the government of the city of Vienna and the Vienna University of Economics and Business developed a system that includes city facilities such s public parking, cultural events and bikes rides.

“We are in a very early design phase in which we are considering together with the City of Vienna what such a Vienna token could look like,” Shermin Voshmgir, head of the Vienna-based Research Institute for Cryptoeconomics, said. “It is about understanding how we can generate a token that adds value for the city.”

The project is also considering to expand into a business environment, so companies or people who want to create civic value in Vienna will be able to join the system and to use it as a marketplace for their product.

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