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.

AccessTimeIconNov 9, 2021 at 5:06 p.m. UTC
Updated Nov 9, 2021 at 10:51 p.m. UTC

Tanzeel Akhtar is a reporter based in London,UK.

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 is a reporter based in London,UK.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.