CityCoin’s Plan for NYCCoin Is Welcomed by Mayor-Elect Adams

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.

UPDATE (Nov. 9, 19:36 UTC): Clarifies contribution mechanism in fourth bullet point.

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Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

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