GOODcoin is aimed at encouraging practices that are good for society. (Zerofootprint)

The creator of a new virtual currency in Canada hopes Prince Edward Island will be the first province to sign on to the GOODcoin program.

GOODcoin is a rewards program that encourages people to do something for the social good, or for their own good. That could include taking part in a healthy activity, saving electricity or water, or volunteering. The GOODcoin credits can then be used to buy eco-friendly products at local businesses or online.

"So imagine if you could walk 30 minutes a day, that is really good for your diabetes," said Ron Dembo, the CEO of Zerofootprint, the Toronto-based company that created GOODcoins.

"Then you get GOODcoins which you could then spend on good local food in some local store. So it's a double good. You know, not only are you getting healthier but the community is growing jobs and businesses."

Two cities in Ontario have launched GOODcoin programs in the last two weeks.

Dembo said it would cost an Island city $10,000 to register or $100,000 if the province signed up, not including marketing costs.

CBC News asked the province and the Island's two cities and its largest town about GOODcoins. The province, Summerside and Stratford want to know more, while Charlottetown isn't interested at this time.