Hull, the UK city situated in the East Midlands with a population of 260,200, has become the unexpected innovators of its own cryptocurrency, dubbed HullCoin.
Perhaps not the first location pundits expected to see initiating its own cryptocurrency, Hull has nonetheless implemented HullCoin successfully and with the widespread endorsement of the city’s residents. The official website describes HullCoin as ”the world’s first Community Loyalty Point”.
The entire supply of 10 million HullCoin was pre-mined by the founders, who are also in control of the supply. The coins are issued to individuals who partake in activities beneficial to the city of Hull, such as volunteers, health service providers and community support organizations.