Miami to introduce its own MiamiCoin cryptocurrency next month
By Bob Garcia
The new digital currency is expected to make Miami more self-sufficient
Miami has lately been recognized for having a strong involvement with the crypto space. So much has been their relationship that it has now been announced that The Magic City has every intention of introducing a cryptocurrency in this upcoming month. According to officials, this initiative will give Miami’s economy a big boost, as they expect to generate huge revenues.
MiamiCoin is how this new digital currency has been baptized, and according to reports, it is expected that 30% of the revenues generated from it will be used to finance all the initiatives presented in the city of Miami.
The mayor of the city, Francis Juarez, is the one who has wanted to promote the relationship between Miami and the world of cryptocurrencies. He asserts, “The city of Miami could end up making millions of dollars as a result of the popularity of MiamiCoin because obviously, Miami has now become the bitcoin capital of the world. We are focusing on differentiating our economy by creating the new wave of tech products that will incentivize people to move to Miami and be part of our tech ecosystem.”
In order to carry out this innovative project, the officials have been working hand in hand with CityCoin, which, as its name suggests, is a company that was born with the objective of designing cryptocurrencies for municipalities. This company is in charge of creating and launching the new digital token of the city. According to CityCoin, Miami’s exclusive digital currency will be available for digital “mining” on August 3 and, based on its specifications and details, it will be the first of its kind to be put on the market.
CityCoin agrees with what the mayor and his team promise, as it assures that MiamiCoin will have everything necessary to provide a “continuous stream of crypto revenue for the city.” It is expected to provide a lot of advantages to the city through all the initiatives and variety of investments it presents.