The Dream of a Crypto City: Miami vs. New York

This episode is sponsored by Quantstamp, Nexo.io and KuCoin.

Joining “Money Reimagined” hosts Michael Casey and Sheila Warren are Miami Mayor Francis Suarez and Matt Homer, who is the former executive deputy superintendent for research and innovation at the New York Department of Financial Services. The two walk through the expected crypto integrations coming to their cities and the anticipated challenges that come with introducing this new technology at the municipal level.

MiamiCoin is the first coin of its type, where a city is granted yield from the mining of their coin. Close on Miami’s heels is New York City, with its newly elected and crypto-friendly Mayor Eric Adams and the new NYCCoin. Both New York’s NYCCoin and MiamiCoin are issued by CityCoins, whose tokens operate with smart contracts on Stacks, a protocol built on Bitcoin.Though these city coins present an exciting opportunity for cities to tap new sources of revenue and to experiment with engaging their communities in new technologies, they also come with potential challenges ranging from volatility to accessibility. How do Miami and New York and Homer intend to mitigate these risks?

This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and additional production support by Eleanor Pahl. Our theme song is “Shepard.”