UrbanChange co-founder Michael Mazur said that MinsCoin intends to introduce 10 enterprises in Minsk-Mazowiecki, and it is expected that other local organizations will introduce this token in the future. According to Mazur, people will have a new way of settling accounts with firms and participating in public projects. In any case, they will have an idea of how the latest technologies can improve people's social interaction.
People will be able to earn local tokens by participating in urban initiatives aimed at achieving any social or economic goals. For example, to promote a healthy lifestyle, the local administration may distribute tokens to residents for hiking or for public transport trips. Enterprises included in the white list can receive payment in these tokens, as well as use them for transactions with other enterprises admitted to the project.
The development of the UrbanChange platform was carried out by the Israeli company Colu Technologies, which created applications for similar programs in several US cities. So, residents of Houston can earn H-Points, the Boston authorities distribute Boston points, and Halfmoons tokens have appeared for residents of Utica in New York State. Poland became the first country in Europe to introduce "public" MinsCoin tokens, and UrbanChange said it plans to launch similar tokens in other European cities, as well as in Jerusalem.
The pilot project with MinsCoin became available thanks to cooperation with the Algorand blockchain and the Magic cryptocurrency wallet. In the future, the protocol may be deployed on second-tier solutions of the Ethereum network, such as Base, Mazur added.