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The Ohio city is working with govtech company Colu to develop a civic and community engagement platform to spur its economic recovery in the wake of the coronavirus pandemic.

Colu believes the programme’s 30 per cent revenue reversal could be a model for smart-city-based businesses caught up in municipal construction zones.

The currency aims to strengthen the local economy, help tackle the cost of living, enhance city life and increase community involvement.

Following a workshop on the use of Colu’s digital city-wide currency, two cities are expected to launch and implement such a currency in the near future.