The mayor of Miami, Florida, is now highlighting the city’s very own cryptocurrency, and the new digital assets are designed with the motive to generate millions of dollars for the city’s economy, and it is only if people will embrace it.
Francis Suarez, the mayor of Miami, has appeared on Fox Business to discuss the city’s plans for its cryptocurrency, which was announced during the month of June. Dubbed MiamiCoin, the city’s token will actually be used to fun the development of Miami as well as encourage people to move to Miami, which is again home to more than 450,000 residents.
The value proposition for those residents is that the token holders and the city governments can now earn crypto rewards while providing the maximum support to the cities.
MiamiCoin is again built on the CityCoin platform, and a user will be of MiamiCoin can borrow it, lend it, and even program it as needed while earning a Bitcoin yield.
Suarez said that the MiamiCoin could help to raise funds for the city to combat problems such as homeless and bolsters law enforcement.
Throughout the year 2021, Francis Suarez has also remained a great supporter of blockchain and cryptocurrency adoption, but his announcement comes after sharing his ambitious plans to covert Miami to the center of crypto development.