There's an long time Bitcoin company (2014) who's doing just that with local currencies called Colu Netowork that has been live in 4 cities for a while that is becoming popular. They have an East London pound, Tel Aviv currency, ECT. If you use their network to pay you get a bonus local crypto currency that can be spent at the local shops. It's a win win for both the merchants and customers. The bonus to consumer is around 3% of the sale, which is equal to amount merchant saved off the credit card fees. Instead of credit card points the consumer is rewarded with a local crypto currency that fuels their economy.
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