The city of Konya, in Turkey, has announced it's investigating using blockchain to issue and manage its own currency to streamline and better manage its financial transactions with citizens. There's clearly a host of additional questions and issues around the idea of local governments having their own currencies, but this is another idea worth keeping an eye on.
The potential for making financial transactions much easier, hence making economic development support much more rapid, is high and could be a game-changer in how governments work with each other as well as with their citizens.
Konya could become one of the only cities in the world to have its own digital currency, if the project is successful. The city’s own virtual token would allow the municipality to more easily perform its routine tasks and obligations. For example, the digital coin could be used for collecting sales tax in a more efficient manner.
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