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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.
Updated May 11, 2023, 6:02 p.m. Published Nov 9, 2021, 10:51 p.m.
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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.
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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.
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