MiamiCoin will be used to develop Miami
Miami City Commission voted to collect $ 4.5 million in MiamiCoin to be used to develop local infrastructure.
MiamiCoin is a Stacks-based cryptocurrency that allows city officials to raise funds for city development. In the process of mining currency, part of the funds is sent to a special wallet, which the city can use in order to develop. In fact, investing in the MiamiCoin cryptocurrency is an investment in the city of Miami itself.
Miners engaged in the extraction of currency earn and at the same time help the development of the city, that is, they perform a social function.
Such a decision by the city authorities to use a wallet to store cryptocurrencies could create a financial and legal precedent for other cities. In fact, the mayor and his team ushered in a new era in the use of cryptocurrencies, proving that cryptocurrency can be used to develop cities. In his opinion, other cities can also follow the example of Miami, attracting residents and cryptocurrency platforms for the development of urban infrastructure.
Official repair site Asic for mining cryptocurrencies in Russia.
According to CityCoins, fees will continue to grow as the cryptocurrency is used more and more.
Funds from the currency will be distributed in several directions. According to the city authorities, they should be aimed at improving the climatic situation in the district and the city, on projects that are designed to help the poor population of the city and the promotion of cryptocurrencies among businessmen.
According to the mayor himself, the cryptocurrency will help the city become one of the leading centers of cryptocurrency innovation in the world and will attract even more funds for the development of urban infrastructure.
This example of the use of cryptocurrencies proves that they can be used on a par with fiat funds, and even be more effective, since they are not subject to inflationary processes. Let’s see if other cities follow Miami’s example.
If they, too, begin to develop their own cryptocurrencies or use existing ones, then perhaps this will put an end to excessive market volatility and pressure from regulators, who still believe that digital assets are a threat to financial systems.