The CityCoins project, which launched the MiamiCoin city token for Miami, announced that it is going to create a similar solution called NYCCoin for New York.
“We are glad to welcome you to the global home of Web3! We look forward to technology and innovation to help our city move forward, ”New York City Mayor-elect Eric Adams wrote in response. CityCoins programmable tokens are aimed at providing additional revenue to municipal budgets through their mining by residents.
Users receive a reward for mining coins in the native tokens of the STX project. CityCoins uses its own Stacks protocol based on the bitcoin blockchain.
70% of the reward remains for the miner, and 30% is credited to the city wallet. The authorities can access it at any time and convert assets into fiat.
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Since August, the project has amassed about $ 21.6 million in STX for Miami, according to CityCoins.
Previously, Adams showed interest in this solution. In an interview with Bloomberg, he noted that "it works well."
“We will see in which direction to do this,” he added. NYCCoin mining is expected to begin this week.
We will remind, after the election, Adams said that he intends to receive the first three salaries in Bitcoin, supporting the initiative of the Mayor of Miami Francis Suarez.
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Adams also suggested studying cryptocurrencies in schools, complaining about the low awareness of young voters in this area.