Rockland man creates new currency to promote social good

Oct 06, 2018
Photo by: Stephen Betts Nate Davis, shown here last year at the unveiling of the new Rockland city website, announced Oct. 4 a pilot social good project.

Rockland — A local entrepreneur has announced the pending launch of a state-of-the-art social good pilot project.

The pilot project creates a cryptocurrency called DoGoods developed by members of Steel House in Rockland to be used for social good, according to a news release from Nate Davis, one of the founders of Steel House.

The project is a joint venture of the Steel House, the Knox County Homeless Coalition and Ada's Kitchen, a downtown Rockland restaurant.

Davis is writing the code and he has collaborated with a Washington, D.C., man with experience in disaster relief and humanitarian relief.

On Dec. 1 from noon to 4 p.m. at Nativity Lutheran Church, 179 Old County Road, Rockport, up to 20 volunteers will participate in the Knox County Homeless Coalition holiday volunteer project. The event is billed as a holiday gathering at which volunteers from the local community will assist the families served by the coalition by crafting gifts for their loved ones.

Volunteers will be rewarded with the new DoGoods currency that will be available via smartphone apps developed by the Steel House.

The day will conclude with an evening celebration at Ada’s Kitchen, at which volunteers will be able to pay part of their bills with the DoGoods they have earned.

Davis pointed out in the news release that volunteers can still participate if they don't have a smartphone.

"This holiday volunteer project, in addition to being a great volunteer opportunity, will be a test of the technology and mechanics behind the currency before it is launched on a larger scale," Davis said.

To sign up to participate, contact Eileen McGuigan at emcguigan@homehelphope.org. For questions about the DoGood currency, contact Davis at nate@rocklandsteelhouse.com.

Davis said the app has been in the works for about a year. The goal is to later offer the project worldwide. He said the currency will be structured to discourage the speculation that often occurs in other cryptocurrencies.

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