Local shopkeepers in Jaffa celebrating digital coin campaign success

Local businesses on Jerusalem Boulevard in Jaffa were, until a month ago, facing financial ruin in the wake of total street closures due to the light rail construction. However, the digital currency campaign initiated by the Tel Aviv Foundation in partnership with the Municipality of Tel Aviv-Yafo and Colu, has injected some $600,000 into the local economy, drawing 4,000 additional customers to support 100 local businesses – a huge boost for the neighborhood and the livelihoods of those who live and work there.

Shopkeepers on Jerusalem Boulevard testified to the campaign’s success, saying:
“The distribution of the city coin has made a significant difference to business owners; some say it’s halted their losses.”
“Thanks to the campaign, I have a lot of new customers, including people from outside the neighborhood and customers who wouldn’t otherwise shop here.”

Dr Hila Oren, CEO, talks about the importance of this project in relation to smart cities in a recent interview. Click to watch or read.