Orania introduces digital currency

Orania in the Northern Cape will on Monday roll-out a new digital currency, the “e-Ora”.

The Ora is not a full currency but serves as a token of tender. It was introduced in 2004 to promote local spending, with users enjoying discounts when they use the Ora coupons.

Spokesperson James Kemp says the digital currency will be fully implemented by the end of this year or early next year.

“It was a logical next step to say what we are going to do, we going to take this Ora and we’re going to digitalize it. So in other ways, with the app that is being developed, people will be able to trade with one another in Ora, but it is still stays a coupon system with one Ora for every rand in the bank. It’s now just entering a new stage where you can trade digitally,” says Kemp.