Blockchain-based Cirklo helping local economy with ready-to-use digital shopping vouchers

Fibo Quantum

Blockchain-based solution Cirklo from Belfius and its innovation lab The Studio has been helping local economy with ready-to-use digital shopping vouchers.

Using this app, towns and local councils are offering their residents digital shopping vouchers that can be used to make purchases in local shops. The authorities are also able to increase by an amount of their choice the value of the vouchers bought online by local people.

Cirklo aims to support local traders in the aftermath of the Covid-19 crisis. Fifteen or so municipalities have already adopted this system, or plan to do so soon, according to the official press release. It should also be pointed out that Cirklo is not just aimed at towns and local councils, but also at businesses and companies wanting to give shopping vouchers – or ‘hospitality’ or ‘consumption’ vouchers to their employees as a reward for the efforts they have made in recent months during what has been a difficult time.

The Cirklo app was launched in collaboration with the The Studio’s ‘Onze Stad App’. Cirklo is a web platform featuring a webshop at which residents can buy shopping vouchers. Thanks to Cirklo, local authorities are also able to offer vouchers to (all) their residents. The traders in the local area then have an app for validating the vouchers and then cashing them in. The ready-to-use digital shopping vouchers are based on blockchain technology.