*By Madison Alworth* Crypto start-up StreetCred wants everyday New Yorkers to map their city, and the company is paying them in Bitcoin to get the job done. "You can earn points for going around the city and adding and taking photos of any place that you go that's of interest to other people," CEO Randy Meech said Monday in an interview on Cheddar. StreetCred's app, MapNYC, isn't the first mapping product out there, of course. Google's version similarly uses crowd-sourced information to beef up its offering. But Meech sees a key downfall to that option. "One of the problems is, it's very restrictive and very expensive for other companies to use," he said. "That's really our mission. We are trying to make this data very accessible, very open, basically, for others to do anything that they want with it." Meech hopes to address those concerns by running his app on a more decentralized blockchain. "What we're looking for is for communities to be able to create data and be compensated for that, or to share it with companies who need the data," said Meech. Bitcoin is the currency of choice, since it's currently the one most visible to the general public and therefore has the potential to attract more contributors. But StreetCred does have bigger ambitions. "We are a crypto company so we will likely be having our own token at some point," Meech said. "One of things we wanted to test, before we get to that point, is will people do this for crypto?" Creating a game out of it may help. Every time a user posts a location, he or she gets a point, and prizes will be distributed among those who post the most. As of this week, there are eight Bitcoins up for grabs in the app's contest; the top prize equals one Bitcoin, or approximately [$6,200] (https://www.coindesk.com/price/). StreetCred is focusing on its hometown of NYC to start, but Meech said he plans to expand beyond his test city. MapNYC launches on September 24 and will be available for both iOS and Android. For full interview [click here](https://cheddar.com/videos/mapping-nyc-for-bitcoin).

Share:
More In Business
Study: Over 58% of Hybrid Workers Are 'Coffee Badging'
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Securitize: Join The Private Credit Boom
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stretching Your Dollar: Holiday Budgeting Tips for Kids
With Christmas only 10 days away, some kids may notice that there's a lot of spending going on this holiday season. Dr. Regine Muradian, licensed clinical psychologist, joined Cheddar News to provide tips on how to teach kids the value of gifts and money.
Load More