Miami will launch its very own cryptocurrency tomorrow, MiamiCoin, which will be used to fund infrastructure projects or events in the city.
The idea is that people will support Miami by buying or mining MiamiCoin, and funds will be diverted to the city’s treasury.
MiamiCoin will be the first CityCoin released. CityCoins is a project that allows people to invest in a city by buying tokens. It works with local governments so those who invest are rewarded in Bitcoin or Stacks, the native cryptocurrency of the eponymous protocol used to build things on the Bitcoin blockchain.
“MiamiCoin provides an ongoing crypto revenue stream for the city, while also generating STX and BTC yield for $MIA holders,” the CityCoins website reads.
City governments can embrace Bitcoin and crypto faster than nations.
Miami Mayor @FrancisSuarez is experimenting with crypto to give Miami a Bitcoin-yielding treasury.
A thread on cities and crypto
— muneeb.btc (@muneeb) August 2, 2021
“MiamiCo
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