The Swiss town of Wetzikon – widely known as the “Sleepy Swiss town” – reportedly rolled out a blockchain-powered project, to assist small and medium-sized local establishments, suffering from the global health crisis.

Specifically, the distribution of the initial aid disbursement – with value equivalent to 250,000 Swiss francs ($280,000), with the municipal credit line particularly designated for the health crisis – will reportedly be finalized for around 25,000 citizens in Wetzikon, as an eCoupon values at 10 Swiss francs. 

Residents can reportedly get a hold of the disbursement, via a smartphone app, dubbed “ecoo”, which will utilize the aid project to run pilot testing for its platform. 

Ecoo was reportedly built to offer assistance to establishments, nominally authorities and event organizers, regarding the distribution of designated financial support, as coins and points, based on the Tezos blockchain, via a partnership between the Swiss companies Papers AG and numerous subsidiaries of Farner Consulting AG. 

The app will reportedly allow for conversion of coupons into “WetziKoins”, which can be used later for buying at local firms. Local business owners will then be able to accept the converted Swiss francs from the town administration, facilitated by the app as well. 

“Under the current circumstances it is imperative for us to act in favor of the local economy in a sustainable manner. With ecoo, we have found a viable solution to motivate the people of Wetzikon to shop in local stores instead of just buying online or from wholesalers outside our town.”