Miami Coin brings in $7 million to the US city of Miami treasury

Miami Mayor Francis Suarez Francis Suarez, to convert the city to Cryptocurrency innovation center, and to become Miami Coin A world-wide impact experience, where the current administration claims that one of the possible outcomes of a digital city currency is, Miami A tax free city.

This good idea, will be a byproduct of cooperation with the protocol City Coins It is an open source non-profit protocol that allows people to own and trade cryptocurrency representing a stake in the municipality.

By running software on personal computers, users of City Queen new coins, and they earn a percentage of the cryptocurrency they create.

A computer software automatically assigns 30% of currency for a selected city, while users get 70% other.

Since the protocol revealed City Coin Unveil Miami Coin In August, nearly 7.1 million to Miami (where city commissioners agreed to accept donations in 13 September).

While the program is still in its infancy, Suarez estimates that the effort could generate up to 60 Million dollar for city Miami Over the next year, revolutionize how city programs are funded, which address poverty and other societal issues.

He says:

"When you think about the possibility of being able to run a government without citizens having to pay taxes, it's incredible, and the partnership creates opposition to the idea that city programs require higher taxes or private philanthropy."

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The city's coins are in line with the general trend that Suarez has embraced in Miami, as a business-friendly environment that welcomes tech companies willing to take advantage of warm weather and low taxes.

The mayor says he is in discussions with mining companies about setting up operations near a power plant in South Florida, and ultimately wants to transform the city from a travel destination to a leading technology hub.

Several financial and technology companies have also set up offices in the city over the past year, including Goldman Sachs, And SoftBank, And Blackstone And always, according to Suarez.

Also announced crypto wallet Blockchain In June, it moved its headquarters from New York City to Miami, citing the welcoming regulatory environment that serves crypto innovations.

In the same month, the stock trading platform announced Another parrot eToro For plans to establish offices in the city, it is also trying Miami Incorporating cryptocurrency into city government.

It is exploring allowing city employees to get paid with Bitcoin Allowing residents to pay some fees and taxes Bitcoin Also, the city also held the largest conference Bitcoin Around the world in June, thousands of enthusiastic supporters followed him.

branded company City Coin itself as a collective company rather than a commercial one, it is an idea that came from the disciples of the “leader” of the platform community Patrick Stanley.

And the last, confirms that the strategy City Coin Directed by online cryptocurrency enthusiasts, who communicate on the chat platform Discord And they vote on what's next:

“The coin society is trying to bring into existence something that did not exist before, in order to improve the conditions of all the citizens of the respective cities.”

After all, cryptocurrencies are pieces of digital code that allow people to buy, sell and build wealth, as miners create new cryptocurrencies by running software on computer networks.

While the code solves math problems and adds transactions to the general ledger, known as Blockchain In a lottery-like system, the new codes are awarded to people who run the program.

and depend Miami Coin on a base cryptocurrency called Stacks, miners mint it, then return the coins to City Coin Where are Miami coins produced?

And the miners who send the most coins have Stax, Best chances to get coins Miami new.

People interested in buying or trading in Miami Coin To find it in the stock exchange Okcoin Cryptocurrency, where the currency was traded more than 2 Tradition (Which 0.026 dollars) this week.

Currency can be bought or extracted by people who want to support Miami They gain value if demand is greater than supply.

In a world where an unlimited number of new cryptocurrencies are emerging, launching a company City Coin of increased interest in its efforts, which may lead to an increase in the value of the currency.

Crypto Market Sentiment Is Low, No Coins In Positive Zone