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CityCoin’s Plan for NYCCoin Is Welcomed by Mayor-Elect Adams
Eric Adams tweeted his support for the program after CityCoin said it would follow its MiamiCoin model in the Big Apple.
The next mayor of New York City, Eric Adams, expressed his support for CityCoin’s NYCcoin program, tweeting a welcome to the city.
- Adams won the Nov. 2 election and is expected to take office on Jan. 1.
- “We’re glad to welcome you to the global home of Web 3! We’re counting on tech and innovation to help drive our city forward,” he wrote while retweeting CityCoin’s Nov. 8 tweet.
- The NYCcoin can be mined by anyone and will allow users to earn crypto through the Stacks protocol, CityCoin said.
- CityCoin said it aims to support New York City and its protocol automatically allocates 30% of the funds spent to mine the tokens to a crypto wallet reserved for the municipal government or the Mayor’s Fund.
- The New York program follows a similar one in Miami that has generated some $20 million in less than three months, CityCoin said.
STORY CONTINUES BELOW
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Read more: MiamiCoin Going Mainstream ‘Faster Than Bitcoin,’ Mayor Suarez Says
UPDATE (Nov. 9, 19:36 UTC): Clarifies contribution mechanism in fourth bullet point.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
