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HARLEM, Manhattan (PIX11) – A Harlem group is launching a new cryptocurrency called “Harlem Coin.”

Harlem Coin will be given to community members making social change happen in their neighborhood. They can redeem the coins for services and products in some Harlem businesses. It’s being called a “social impact token.”

A company called Silicon Harlem is launching Harlem Coin this fall. It’s a cryptocurrency that only Harlem businesses will recognize.

Clayton Banks, the CEO of Silicon Harlem, says the coin could be the future of what he calls “community currency.”

PIX11 News got an exclusive look at the new coin at Silicon Harlem’s headquarters on Frederick Douglass Boulevard. Banks says for the past decade his company has focused on bridging the digital divide in underserved communities in Harlem.

Banks says how Harlem Coin works is simple. People earn coins by doing good deeds, and participating businesses will redeem them only in Harlem.

Banks says local business like Harlem Cafe and Common Good have already agreed to accept the new coin.

The Harlem Coin will be officially announced at Silicon Harlem’s annual Next Gen Tech Conference on Oct 21. If you want more information about the new Harlem Coin, visit the Harlem Coin website.