Viladecans has created a new local energy currency that seeks to strengthen the local economy, raise energy transition awareness and promote social cohesion.
The new local digital currency Vilawatt is electronic money, complementary to official money, in which a Vilawatt equals one euro. It is a secure and agile payment system that seeks to strengthen the local economy, raise energy transition awareness and promote social cohesion. The system is scheduled to be launched in January 2020. The project was presented at the Smart City World Congress 2019, at the stand of the Metropolitan Area of Barcelona on Tuesday November 19th.
The currency was born from the desire to convert part of the energy savings achieved by customers of the new energy company Vilawatt, which was launched in summer. But, in addition, any citizen can convert the money they want at any time in Vilawatt currency, to be able to access the discounts and promotions that local businesses will make to whoever uses it.
A coin promoted by the City Council
To give it a very significant boost, the City Council also intends to pay part of the subsidies to entities in Vilawatt currency or make part of their purchases with this currency, as well as allow citizens to pay fees, public prices or services, such as the “Blue zone” parking. They might have some bonuses in doing so.
Through the mobile phone
Payments with the Vilawatt currency will be made through a mobile and tablet application available for iOS and Android: the Vilawatt app. It is a very simple application that will allow the transfer of Vilawatt money between users, or through a QR code generated by business to customers. It is expected that, at the end of next year, payment to businesses will also be made as a transfer instead of a QR code, once it’s integrated into a digital identity and tokens management with digital contracts platform.
Vilawatt, a European project
The new digital currency is one of the four actions planned at Vilawatt, one of the three projects chosen by the European Union in October 2016 in the first Urban Innovative Actions initiative call. The proposals from Paris and Gothenburg were the other two chosen from 113 innovative municipal projects on energy transition. The European Union contributes 80% of the project funds and the City Council the other 20%. In addition to boosting the currency, Vilawatt has already created a municipal energy supply company, offers advice for energy efficiency and promotes energy rehabilitation of buildings.
