By Aaron Fernando, Shareable
The staff at the nonprofit organization HullCoin has done something very unusual in the city of Hull in northeast United Kingdom. They've launched their own local cryptocurrency — programmed on top of Bitcoin to be issued by nonprofits and social institutions — as a way of combating financial exclusion and other problems that are at the root of poverty. Residents of Hull can earn HullCoins, which can be used at various places around the city. It's an innovative model. But how exactly does it work?