New York will launch its own cryptocurrency

The NYCCoin token will be released by the CityCoins platform, on which the first municipal altcoin, MiamiCoin, was created in AugustMiami city.

Mining will begin on November 11 on the CityCoins platformNew York cryptocurrencies NYCCoin. The creation of the municipal cryptocurrency is an initiative of the city community and the elected mayor of New York, Eric Adams. NYCCoin will be used to support city initiatives and fund events. Developers will be able to create smart contracts and decentralized applications (dApps) based on NYCCoin.

“We are glad to welcome you in the global home of the Web! We are counting on technology and innovation that will help propel our city forward, ”tweeted Eric Adams.

The CityCoins project enables municipalitiescreate your own tokens to attract investment in the city treasury. Investors can receive bitcoin rewards by staking city tokens. In August, the CityCoin project launched the first city cryptocurrency - MiamiCoin.

Adams, who won the mayoral election in early NovemberNew York, has already made several statements about cryptocurrencies. He noted that he plans to receive his first three salaries as mayor in bitcoins. Adams also advocated teaching the basics of cryptocurrencies in schools.

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