CityToken (CTY) is a very simple concept, really. 

  • Add value to your community.  Earn value that can be exchanged in your community.

  • Resident A performs a service in the community.  Instead of doing receiving payment in dollars (a fiat currency), CityTokens or CTY are received.   

  • The amount of CTY corresponds to a predetermined valuation of the said service (an intrinsic value) as published in an "Activity Catalog."

  • All interactions are recorded on the Blockchain thereby preventing fraud and disputes about whether or not something was done.

  • Earned CTY are stored in crypto-wallets and later exchanged for goods and services found in the Catalog.  

  • 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. 

  • 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.