| Follow Us:

Innovation & Job News

Denver's COjacks offer alternative currency for gifts

COjacks represent a new kind of currency for gift-buyers.

COjacks, the Denver-based, Colorado-centric currency that launched late this summer, will be accepted along with U.S currency at the Community Connect Trade Association and Main Street Chamber of West Denver's Holiday Trade Show and Event at SPACE Gallery at 400 Santa Fe Dr. on Thurs. Nov. 20 from 4 to 8 p.m.

"The event is about 50 percent trade and 50 percent cash," explains Jaime Cangemi, chief marketing officer for the Main Street Chamber in Denver. Cangemi says she expects about 50 vendors and 500 buyers.

Instead of being confined to cash, however, the event allows people to barter or trade for locally made goods. It's also an ideal opportunity for an alternative currency like COjacks. "Their hope is for us to roll it out to the Community Connect Trade members there," Cangemi says.

Consumers can get COjacks at an introductory rate of five for $4. The retailers that accept COjacks, among them Backstage Coffee and The GrowHaus accept them at a rate equivalent to a dollar.

"It's all about the independent businesses," Cangemi explains. "The concept is if you were a retail shop and I bought something with COjacks and you then have COjacks in possession you cannot come back to the COjacks office to trade it for cash so you'll go out and find a member of COjacks you can spend it with. That's where the dollar going further makes sense."

Pro-level businesses that accept COjacks for 30 percent or more of a customer's purchase can receive three COjacks for every $1 they choose to exchange for COjacks. Businesses that accept 10 percent of a sale in COjacks can exchange $1 for two COjacks. Since they can't trade them back for U.S. dollars, the accepting retailers must spend them with other participating retailers.

Contact Confluence Denver Innovation & Jobs News Editor Chris Meehan with tips and leads for future stories at chris@confluence-denver.com.

Read more articles by Chris Meehan.

Chris is a Denver-based freelance writer, editor and communications specialist. He covers sustainability, social issues and other topics.
Signup for Email Alerts
Signup for Email Alerts