Providing Local Virtual Currency Points To Students
Efforts are being made to help students in Japan offset the impact of rising prices. A university faculty in Tokyo's Setagaya Ward has started allocating the local virtual currency to each of its students.
Nihon University's College of Humanities and Sciences is handing out 2,000 yen or about 13 dollars per student in the form of points using the ward's own digital currency.
The faculty has been distributing fliers with QR codes where the students can access the money.
The faculty has about 8,000 students and estimates the project will cost just over 100 thousand dollars.
A third year student says prices at supermarkets are sky rocketing and that she has been on the hunt for lower-priced items.
The university also reasons that if the students use the points in nearby shops and restaurants, it will help revitalize the local economy.