NYCCoin (New York cryptocurrency)

2021: New York launched its cryptocurrency

On November 10, 2021 CityCoins mining , the municipal NYCCoin began on cryptocurrencies New York City the platform. It will be used to implement city projects and finance various activities in the metropolis. Developers will be able to create smart contracts and decentralized applications (dApps) based on NYCCoin.

New York City authorities will receive 30% of NYCCoin mining revenue. The city can convert cryptocurrency into dollars at any time. These funds can be allocated to any projects and social initiatives.

New York introduced its cryptocurrency NYCCoin

Previously, cryptocurrencies were already released on the CityCoins platform. So, its own digital asset appeared in Miami - the project is MiamiCoin designed to attract investments in the budget.

Eric Adams, who won the mayoral election in New York in early November 2021, has already managed to make several statements about cryptocurrencies. He noted that he plans to receive the first three salaries as head of the city in bitcoins. Adams also advocated teaching the basics of cryptocurrencies in schools.

We are delighted to welcome you to the global home Web3! We look forward to technologies and innovations that will help us lead the city into the future... I promise you in a year that you will see another city. We're going to bring business here. We are going to become a center of life sciences, a center of cybersecurity, a center of unmanned vehicles and drones, a center of bitcoins, a center of all technologies, "Adams said, commenting on the launch of municipal cryptocurrency in New York.

In an interview with Bloomberg, Patrick Stanley, head of the CityCoins community, said that every 10 minutes the city makes money for the fact that NYCCoin exists. The purse will be filled with stacks and they will be able to spend stacks or the income they generate, he added.^[1]

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