The British Hull city launches its own coins

New cryptocurrency will be used for pay to volunteers and active citizens
24 November 2017   570

The Hull, an English port city in east Yorkshire, uses an blockchain technology application. The HullCoins are digital and people can take them by “good works”, rather than bought or sold with hard cash. A description of the work done is permanently attached to the “coin”. With this technology volunteers and community workers would be able to obtain discounts at local retailers and even reductions in their council tax.

People receiving HullCoins have discounts between 10 and 50 per cent from local companies. This concept attracts customers and simultaneously increases social responsibility. People can earn coins by helping children to read, running youth clubs and arranging activities for pensioners. In addition, they can be obtained by giving up smoking count, because they reduce the burden on the medical sphere. Then the coins are given out as QR codes on mobile phones.

To release HullCoin will be able to community groups, charities, schools, public health bodies, jobcentres and prisons. HullCoins retain their value indefinitely. They can be passed between people and reused. HullCoins cannot be used for cigarettes or alcohol.

Now HullCoin is in the beta testing stage and has 800 volunteer users, 73 issuing organizations and 140 retailers offering discounts. The plan is to launch the currency in January 2018.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   113

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.