Dutch cryptocurrency platform Studio/Belfius has joined with payment platform LimbU in Limburg in the South of Holland to create its own cryptocurrency for promoting community spirit.
The initiators of the project suggest that the aim is to encourage sustainability, community support, promotion of local produce, and the creation of supply chains throughout Limburg’s 10 provincial regions.
Limburg is the southernmost of 12 provinces of the Netherlands. It is in the southeastern part of the country, stretched out from the north, touching the province of Gelderland, to the south, where it internationally borders Belgium.
The new digital currency, the “Limbu” has no fiat support but is transferable to users’ wallets throughout the province after locals complete a range of civically responsible activities such as; garbage collection, doing small repairs, giving blood, collecting clothes for charity, undergoing first aid training or composting organic waste.
The aim is to also encourage companies, public authorities, and associations to contribute through the scheme towards building a “greener, more welcoming Limburg.” The project’s member Wim Van De Putte explains:
“It was not easy finding the right partner with the required experience and expertise. But from the very outset, Studio Innovation Lab impressed us with its ability to understand this complex issue and its willingness to meet the challenge. In fact, The Studio has its own scalable platform for creating a digital currency based on the blockchain.”
As the project, Uitmuntend Limburg, grows in numbers, it plans to hand over to Limburg.net. and widen the range and scope of activities around the province, especially as thousands of Limburgers across the 10 regions already have their wallets. Ronny Neckebroeck from The Studio commented:
“We are honored to be part of such a beautiful project. Developing the platform and payment app is a major step forward along the way towards making the LimbU project a professional and sustainable initiative. Working with Uitmuntend Limburg, we will make the LimbU a success – we are sure of it. And our experience in innovative digital solutions and blockchain makes us the ideal partner for handling the technological side of this great story.”
At the beginning of this year, The Studio also developed Pengo, an innovative service that enables individuals to send payment requests via instant messaging platforms such as Facebook Messenger, and WhatsApp.
The Netherlands is a leader in advancing blockchain technology in Europe and often slips under the radar, but the Dutch government is no slouch when it comes to promoting the interests of companies adopting new technologies, especially when such projects benefit the entire community such as Uitmuntend Limburg. Holland is a country with a social conscience, and legislation over the years has illustrated the degree to which its population is a beneficiary of the desire shown by the government to support its society as a whole.
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