CityToken (CTY) is a very simple concept, really.
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Add value to your community. Earn value that can be exchanged in your community.
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Resident A performs a service in the community. Instead of doing receiving payment in dollars (a fiat currency), CityTokens or CTY are received.
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The amount of CTY corresponds to a predetermined valuation of the said service (an intrinsic value) as published in an "Activity Catalog."
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All interactions are recorded on the Blockchain thereby preventing fraud and disputes about whether or not something was done.
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Earned CTY are stored in crypto-wallets and later exchanged for goods and services found in the Catalog.
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Traditionally, residents needed to earn dollars to acquire necessary services. However, because of extreme income-inequality, additional hours worked did not always ensure that families are able to make ends meet--wage-to-hours-worked elasticity being simply too high.
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The CityToken Program frees residents from low-paying jobs that only waste time. The instead use their talents, skills, strengths and TIME to earn value thus satisfying the needs of their families.