Cryptocurrency frenzy continues, Miami leads the way in race to earn ‘crypto capital’ title

Cryptocurrency frenzy continues, Miami leads the way in race to earn ‘crypto capital’ title

BUSINESS/ECONOMY| Dec 20, 2021 | WOZINGA NEWS

Cryptocurrency frenzy continues, Miami leads the way in race to earn ‘crypto capital’ title

  • Miami is leading the way with various projects involving locals and forging the way with the first CityCoin.
  • Miamicoin, created by CityCoin, will provide a return for all Miami inhabitants, letting them to invest in the city by purchasing tokens.

By Elah Mae Ariate Wozinga Staff

Miami leads the way in race to earn ‘crypto capital’ title

The cryptocurrency frenzy continues, with American towns competing for the title of “crypto capital.” Miami is leading the way with various projects involving locals and also forging the way with the first CityCoin.

Miamicoin, created by CityCoins, will provide a return for all Miami citizens. It also allow them to invest in the city by purchasing tokens, FOX Business reported.

Strategy of Miami in becoming an innovation forward city

Miami Mayor Francis Suarez told FOX Business. “Crypto has been a huge part of Miami’s strategy in becoming an innovation ahead city.” Also, he hopes to “redefine the city as one that wants to create high-paying jobs, and to create jobs of future.”

“You may see a lot of the big crypto exchanges and offices go down there, and a multiplicity of other tech businesses.” Mitterlehner said, adding that “Miami has established a great hospitable business environment with low taxes, making it affordable.”

Grant Mitterlehner, the founder of Mitt Blockchain, a crypto mining company that specializes in mining Bitcoin and Ethereum, feels similarly.

“Miamicoin is brilliant”

FTX, a cryptocurrency exchange, just left its imprint on the city. With a $200 million sponsorship and also naming rights contract for the Miami Heat’s NBA basketball arena.

Mitterlehner believes Miamicoin is brilliant. With the coin “generating additional cash for the city without the need to tax anyone for anything.”

In addition, the miner receives 70% of the mining revenue from Miamicoin, as opposed to 100% in the case of bitcoin. Also, the remaining 30% going into a digital wallet for the city.

Do you agree with Mitterlehner that Miamicoin is brilliant?

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