The New York City Coin, or NYCCoin, launches tomorrow on November 11. This cryptocurrency for the city of New York is issued by CityCoins, the same company behind the MiamiCoin.
It’s official: CityCoins are coming to the Big Apple ????
Last week, NYC’s Mayor-elect @ericadamsfornyc said that he wants to have a CityCoin for NYC like Miami’s.
This week the CityCoins community is responding by activating NYCCoin mining!https://t.co/F07myLEyjF
– CityCoins (@mineCityCoins) November 8, 2021
CityCoins lets people invest in their city by mining and buying tokens. The proceeds go to the city’s treasury and investors are rewarded with bitcoin (BTC) or stacks (STX). The local government can then decide what to do with the money, such as improving the infrastructure in the city.
These CityCoins use the Stacks protocol built on the Bitcoin blockchain and smart contracts supports functionalities. Miami became the first American city with a CityCoin in August and New York will be the second this week.
“Over the past decade, New York City has emerged as a leading technology center and the city has done a fantastic job of fortifying itself as an innovation hub.
CityCoins is designed to harness the energy, creativity and entrepreneurial spirit of New York City for the benefit of the city. It will be exciting to see what New York City does with NYCCoin.”
Before NYCCoin is listed on exchanges, the project will launch mining for the token later today:
Activation of mining can happen tomorrow at 11am EDT, followed by a 150 Block (~24 hrs) buffer time before the official start of mining.
– CityCoins (@mineCityCoins) November 10, 2021
Eric Adams was elected the new mayor of New York last week. He recently announced that he will receive his first three salaries entirely in bitcoin. He said that just after Miami Mayor Francis Suarez announced he will become the first American politician to receive his next paycheck entirely in bitcoin.
We’re glad to welcome you to the global home of Web3! We’re counting on tech and innovation to help drive our city forward. https://t.co/SY9pv1Ebct
— Eric Adams (@ericadamsfornyc) November 8, 2021
“We are pleased to welcome you to the global home of Web3! We rely on technology and innovation to move our city forward.”
According to Adams, who said yesterday that he wants schools to start teaching crypto.
–
