The coin, which was created in partnership with CityCoins, was built using the Stacks programmable blockchain. While it is unclear what might happen in the future, federal law prohibits cities from creating their own spendable currencies, so CityCoins are not designed to be spent on day-to-day purchases.
“Communities will create apps that use tokens for rewards, local benefits, access control (to digital or physical spaces), trading, lending, smart contract execution, and more,” reads information from CityCoins.