JUN 01, 2014
Irishcoin Aims To Boost Tourism in Dublin and Beyond
"No strength without unity" That’s the motto of Irishcoin, a new peer-to-peer digital currency aimed at boosting the Irish tourism sector.
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Ní neart go cur le chéile – no strength without unity.
That’s the motto of Irishcoin, a new peer-to-peer digital currency, like Bitcoin, aimed at boosting the Irish tourism sector.
Launched earlier this month, Irishcoin (IRL for short) aims at promoting tourism by acting as a discount voucher at participating bars, restaurants, hotels, tourist attractions, and the like.
“Irish tourism is worth over $3B per year to the Irish economy and IrishCoin intends to utilize the promotional aspects of tourism, providing the coin as a discount token vehicle, a tourist organizational branding opportunity, and for the promotion of the Irish tourism industry,” the currency’s site says.
The currency will be distributed through organizations (in the US, Ireland, and globally) connected to the Irish tourism industry, according to a press release published just before the Irishcoin launch on May 17.
“[Distribution] will start initially with take up from online Irish social networks like www.Liveireland.com with over 12,000 US and Irish members eligible to download digital wallets with Irishcoin,” the press release said, and the coin will also be given out to participating businesses as a discount token.
Irishcoin is already up and running, with discounts available at a Dublin bed-and-breakfast chain, online retailer Irish Gift Shop, and the Darcy McGees Irish pub chain, to name a few.
For the pub chain, Irishcoin represents an opportunity to draw in customers and expand the brand name. “We hope to draw more visitors to our regional pubs…and offer set discounts and promotions using Irishcoin,” Darcy McGees manager Harry Farrell said. Staff behind the bar will have a dedicated Irishcoin tablet to input the currency and award customers promotions accordingly.
Four and a half million Irishcoins have been premined before the launch, and the founders say they expect 64 million coins to be mined in the first seven years.