At first glance, some might think it’s a gimmick that the City of Vienna wants to realize its own token using Blockchain. For other industry experts, however, this measure is a further step in the right direction, which should find imitators.
Around 20,000 employees to use the Vienna token
The project of the City of Vienna to launch its own token in the coming months is certainly a marginal note of the rapidly growing crypto area. And of course the token, which has not yet been defined more precisely by name, will not become serious competition for the Ethereum system or the Litecoin. Not least because the City of Vienna uses the currency based on the blockchain specifically for its more than 20,000 employees. After the final introduction of the currency, these are to be able to redeem in about 800 restaurants and pubs, as was recently reported on various cryptoportals.
Employees will soon be able to pay for their food digitally
In this case, the tokens are intended to replace the paper meal vouchers used so far – in this respect, the undertaking is also a measure for environmental protection in order to consume less paper than before. There is no exact date yet. However, it became known that the city had already successfully completed a first test run and for this purpose had cooperated with two restaurants of the federal capital as contractual partners in the summer of this year. The system is now to be gradually put into practice. As expected, the blockchain is private and only accessible to city employees. Details about the exact technology as well as possible extensions to other areas or the administration of the wallet are not yet available.
Renowned partner in the implementation on the side of the city
The token project is set up together with the well-known agency Ernst & Reuter. By the way: The municipality had already started another project related to the blockchain and can now ideally learn about the errors of the past with the new token.