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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.

By Tanzeel Akhtar
AccessTimeIconNov 9, 2021 at 10:51 p.m. UTC
Updated May 11, 2023 at 6:02 p.m. UTC
New York City (Shutterstock)
New York City (Shutterstock)
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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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Tanzeel Akhtar
Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

Follow @Tanzeel_Akhtar on Twitter

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