Calgary, Alberta. Calgary is the first city in Canada which has its local digital currency. But did you know that you can withdraw a foreign currency from an ATM in Calgary. In 2010, a group of college students created the “tumin,” a local currency available exclusively in … The local currency will be known as “Calgary Digital Dollar,” and it is meant for use within the local city in the Alberta Province in Canada. If you choose to be charged in your home currency, the ATM does the conversion for you and at a generally poorer rate. Known as the Calgary Digital Dollar, the digital currency will be used exclusively in the City of Calgary located in Alberta Province and will operate alongside the federal currency, the Canadian Dollar (or the loonie as it is popularly referred), The Olympia FX ATMs have different locations in the city; most are located in AMA Centres. Please visit or "Friend" the Arusha Centre for more information. That means during your stay in Calgary, choose to be charged in CAD. This study examines the rationale(s) that recipients have for participating in HOURS-based local currency loan and grant programs. Calgary Dollars is a complementary currency system that encourages Calgarians to buy local and build relationships in the community. Calgary Dollars was started in 1995 and is coordinated by the Arusha Centre, a non profit dedicated to social justice and environmental sustainability. It’s convenient to withdraw a local currency using debit card. Calgary Dollars is a local currency in Calgary, Alberta, Canada.While functioning as a limited form of currency within Calgary, it is not legal tender nor is it backed by a national government. Final Thoughts Biggart and Delbridge’s (2004) Systems of Exchange typology, which … Instead, the currency is intended as a tool for community economic development as well as a focus for community building and local resiliency. Calgary has become the first Canadian city to launch a digital version of its local currency. There are currently over 75 active local currencies in the US – in almost every state. Wikimedia Commons/ Imagine Calgary. Regional currencies represent a democratization of currency issue, supporting local businesses and educating consumers about how their money circulates in the local economy. They range from the Túmin in Espinal, Mexico, to the Chiemgauer in Bavaria, Germany; Berkshares in Massachusetts, and the Equal Dollar in Philadelphia, US; the Bristol Pound, UK, the Calgary Dollar, Canada and the WIR franc in Switzerland. Calgary Dollars have been around since 1996, and citizens and businesses have offered goods and services in either straight or partial exchange for the local currency. Joe Ceci is the finance minister of the province of Calgary, and he will be heading the cryptocurrency project. Case studies, based on interviews of both loan and grant recipients and system coordinators, of Ithaca HOURS and Calgary Dollars local currency systems (LCSs) are presented here. If the ATM asks if you want to be charged in the local currency or your home currency, always choose the local.