Library Credits (LBC)

Library Credits (LBC): Blockchain Rewards for Library Patrons

Discover the innovative approach of Library Credits (LBC), a blockchain token designed to incentivize and reward patrons for contributing value, empowering libraries to implement cutting-edge digital rewards programs.

What is Library Credits (LBC)?

Library Credits (LBC) is a cryptocurrency and blockchain protocol created specifically for public libraries to incentivize patron engagement. It functions as a digital rewards system that libraries can use to motivate patrons to contribute value - whether through traditional library activities like checking out materials, attending programs, or volunteering, or new web 3.0-ready pathways like participating in online book clubs/discussion groups, writing reviews of library materials, contributing metadata, scanning/digitizing public domain works or other activities that enrich the library commons.

The open source LBC protocol allows libraries to set up custom rewards schemes where patrons can earn LBC tokens for their contributions. These tokens can then be spent on library services, converted into gift certificates or local currencies, used to unlock premium library content and learning materials, or more. As an example, a library could create a scheme where patrons earn 1 LBC token each time they check out a print book, 3 LBC for attending a program, 5 LBC for writing a review, etc. Patrons could then spend their earned LBC on 3D printing/makerspace usage credits, waiving late fees, discounted museum entry and more.

By gamifying patron engagement using blockchain-based tokens as incentives, LBC taps into web 3.0 trends while allowing libraries to increase participation, demonstrate value, and potentially supplement tight budgets. The decentralized and transparent nature of blockchain also enables multi-library cooperatives and library consortiums to implement Networked Library Rewards Programs tied to LBC.

Library Credits (LBC) Features

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