Every Start Up City To Get A Coin in the Next Two Years From City Coins
Our readers know that we are huge fans of the Miami Coin (MIA). You can check out our review of Miami Coin right here. A City Coin built on the Stacks (STX) protocol, MIA is http://www.cryptotrendanalysts.com/uncategorized/americas-crypto-mayor-lures-miners-to-south-florida/generating $2,000 every ten minutes for the City of Miami and over $4 million in total as of last week. Miami’s Mayor Francis Suarez noted that MIA is growing “Faster than Bitcoin.” To say that the Miami Coin is a resounding success so far is a massive understatement.
Miami was the perfect start up city to issue its own crypto. It’s a tax-friendly city that enjoys excellent weather year-round and enjoys the leadership of America’s Crypto Mayor. Now that the best start up city candidate for a City Coin has its own successful crypto, what happens next for other cities? State Scoop gave us some intel on the future of City Coins.
Miami commissioners voted last week to make the city the first local government in the country to have a dedicated cryptocurrency wallet, but others will follow, according to Patrick Stanley, the founder of CityCoins, the nonprofit behind the push to help fund local governments with cryptocurrency.
In fact, Stanley said, “every startup city will have its own CityCoin within two years in the United States.”
Miami was just the first and most logical place to begin, Stanley told StateScoop, largely thanks to the acceptance of Mayor Francis Suarez, a blockchain and cryptocurrency enthusiast who has proposed paying city workers in bitcoin and courted mining firms to base themselves in the coastal city. Stanley said when he and a small group of civic-minded developers came to Suarez with the idea to launch MiamiCoin, Suarez was open to the idea, but did his due diligence in researching the environmental, financial and legal ramifications of accepting the gifted money generated by people mining for CityCoins.
“[Suarez] threw a lot of technical diligence at it from experts that he knows very closely,” Stanley said. “He threw a whole legal team at it, his financial controllers at it, and the City of Miami is acting like a startup. They’re not a typical city, so it’s full of very sharp people who move quickly and carefully.”
Miami is the Perfect Start Up City
Miami was the ideal start up city to begin the City Coin experiment. According to the City Coins website, the next start up city will be San Francisco. While Miami is positioning itself to attract crypto talent, San Fran is already a tech, startup and financial hub. And while we are big believers here in City Coins and the Stacks protocol, we do have reservations about investing into the Bay Area. We question the leadership of Mayor London Breed. There are also
thousands of incidents of homeless people shitting in the streets similar socio-economic trends that have plagued cities like Seattle.
City Coins doesn’t even need governmental permission to start up a crypto for a given city:
“I think it’s best to have the government’s permission ahead of time, but in this model, you don’t need to get the government’s position up front,” Stanley said. “You can actually just launch and wait for them to claim their protocol contribution. That said, educating the government is incredibly important and it’s probably better to have them on board first.”
A San Francisco City Coin will roll out soon, possibly followed by New York City or Seattle. As things stand, we will put the majority if not all of of our City Coins behind the future crypto empire that is being built in Miami.
Where Can I Buy Miami Coin?
Miami Coin (MIA) is now available for purchase on one exchange, OKCoin. You can start investing in MIA coin today and receive a FREE $50 in Bitcoin for signing up with OKCoin. Click on that last sentence for more details.
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-The Crypto Trend Analyst Team