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ITHACA, N.Y. — The design of the 5 Ithaca Dollar (i$) bill, a major tribute to the character of Ithaca and its history of social and economic activism, will be unveiled at a ribbon cutting ceremony at 3 p.m., Thursday, August 20 in the Rev: Ithaca Startup Works temporary location at 123 E State St. on the Commons.
Mayor Svante Myrick will be in attendance, alongside Jennifer Tavares of the Tompkins County Chamber of Commerce, Gary Ferguson of the Downtown Ithaca Alliance, and other mentors from the Rev incubator. The ribbon cutting ceremony is open to all members of the community.
Ithacash is demonstrating its support for the movement to put more women on currency, and is excited to announce that the face of the i$5 is a woman significant to Ithaca’s history. Other locally relevant themes represented on the i$5 design are food security andpoverty alleviation. The i$5 was designed by local artist Annemarie Zwack. Zwack will be in attendance of the ribbon cutting to discuss her work and enthusiasm for the new currency program.
See related: New currency for Ithaca says it’s nearing launch
After launching the digital “Ithacash Online” system — which includes the same TXT2PAY feature as has gained so much popularity in the city of Bristol in the UK with the Bristol Pound — Ithacash’s next milestone is to print and release the much-anticipated i$5 and i$1 bills.
The ribbon cutting ceremony will mark the start of a “launch sale” of digital i$ at a special limited time only “buy in bonus” rate. The i$5 and i$1 bills will also go on sale at full price, and will be available online. The bills are expected to be printed and available in the Fall. The money earned from the launch sale will help fund the printing of the bills and operations for Ithacash’s first year.
The new physical Ithaca Dollars will circulate and work just like US Dollars do, but with added local incentives and flavor. In contrast to the earlier Ithaca Hours, started by Paul Glover in 1991, the Ithaca Dollars will be easier to manage through one-to-one dollar purchase amounts. The physical notes will be available to anyone, however only account holders will be able to use digital i$ and TXT2PAY.
To date, 60 Ithaca businesses are fully equipped to accept TXT2PAY, and digital Ithaca Dollars are already in circulation. Consumers can now shop at Petrune, Home Green Home, Sacred Root Kava Bar, Center Haircutters, Toko Imports, Sunny Days of Ithaca and more with theirIthacash via TXT2PAY.
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