Canadian City Launches ‘Calgary Digital Dollar’ Cryptocurrency to Boost Local Economy

Canada and its famous city Calgary has long been a significant proponent of cryptocurrencies. With relatively lax sets of laws and regulations regarding the budding crypto markets and blockchain industry, Calgary presents itself as a de facto Canadian safe haven for cryptocurrency enthusiasts.

But in what is potentially its most bullish piece of news to-date, Calgary has announced its intention to launch its own cryptocurrency in an effort to boost the local economic sector within its borders.

The currency is to be known by the name “Calgary Digital Dollar,” and it will be used only within the Calgary city in the Alberta Province in Canada. According to press releases by the finance minister of the city, the currency will not replace, but will be used in conjunction with, the Canadian Dollar (CAD). The project is being headed by Joe Ceci, the finance minister for the province of Alberta.

The goal of the new currency is to boost local economic engagement through…