The City of Miami has generated millions of dollars since it started working with CityCoins, an open-source cryptocurrency platform.
MiamiCoin, the first token of the CityCoins project using the Stacks blockchain, creates a source of income for both the municipal budget and MiamiCoin users.
Digital assets donated to generate MiamiCoins; 30% will be sent to the City of Miami’s wallet and 70% will be distributed automatically to miners as a reward.
According to the news of the Washington Post, CityCoins has been in the wallet of the Municipality of Miami since August. $7.1 million sent money. Mayor Francis Suarez, thanks to this program of the municipality next year 60 million dollars He thinks he can earn as much as possible.
Saying that this program could be “revolutionary” in terms of funding public projects, Suarez said, “To think of the possibility of running a municipality without the citizens having to pay taxes … Incredible.” what he said was conveyed.
A city for cryptocurrencies innovation center Suarez is also in talks with cryptocurrency mining companies to create new sources of income.