Guadalajara launches digital currency for payment for goods and services

A new digital currency can now be used to pay for goods and services at participating businesses in the Guadalajara metropolitan area.

Tied at 1: 1 to the Mexican peso, the hoozie, as the currency is called, was officially launched on Thursday.

Citizens can get hoozies, a blockchain-based currency, by downloading the hoozie app on their cell phones and performing certain activities that benefit their communities or the environment.

Hoozies can also be earned using public transport, running, and cycling. Riding a bike for 30 minutes, for example, earns 10 hoozies for a user of the hoozie app. People get 50 hoozies if they sign up a friend for the app and 100 if they sign up a business.

When people use digital currency to make purchases at participating businesses, 4% of the transaction value is returned to them in the form of hoozies.

The currency is an initiative of the University of Guadalajara and the Irish company Domila Limited.

Jalisco’s Ministry of Innovation, Science and Technology has contributed 1.2 million pesos (US $ 59,500) to help its development through a funding program designed to support initiatives that will help reactivate the state economy amid the coronavirus pandemic.

A pilot program to test the functionality of the new digital currency was held at the 2021 National Association of Supermarkets and Department Stores (ANTAD) exhibition, held in Guadalajara this week. Approximately 1,800 participants downloaded the app during the event.

Many Jalisco-based ANTAD members are expected to allow the use of hoozies in their supermarkets and stores. To date, more than 100 businesses, including restaurants, hotels, beauty salons and clothing stores, have registered on the platform.

Participating companies have the opportunity to run exclusive promotions for hoozie users. They get 500 hoozies just for signing up. More information about the new digital currency is available on the hoozie website.

With reports of Informant

About Matthew R. Dailey

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