Miami residents will receive proceeds from city’s cryptocurrency, mayor says – .

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Miami residents will receive proceeds from city’s cryptocurrency, mayor says – .


Miami Grand Francois SuarezFrancis SuarezHillicon Valley – Presented by LookingGlass – Congress Takes Action on Tech Policy Miami Mayor Wants to Pay City Workers with Bitcoin Miami Mayoral Candidate Arrested Charged with Identity Theft a police officer PLUS (R) said he intends to pay the proceeds of the city’s cryptocurrency, MiamiCoin, directly to residents.
These proceeds, totaling around $ 21 million, are the result of Miami staking its cryptocurrency in order to earn Bitcoin, according to cryptocurrency news site Coindesk.com, which conducted an interview with Suarez. Thursday.

“We’re going to be the first city in America to give Bitcoin a yield as a dividend directly to its residents,” Suarez told the site’s hosts. “We are going to create digital wallets for our residents, and we are going to give them Bitcoin directly from the performance of MiamiCoin. “

MiamiCoin is the city’s version of CityCoins, digital tokens that people can hold and trade as a stake in their city’s government, selon l’Associated Press.

Suarez also said the city will make payments through a digital wallet program through which residents will be able to obtain, register and verify their own wallets so they can participate in cryptocurrency exchanges.

Saurez told hosts at Coindesk.com that the new initiative could eliminate the need for Miami residents to pay taxes, which he said would be “revolutionary.”

“I very quickly see a world where the satoshi system is used to make payments,” Suarez said. “We need people to understand that… yes, we want you to hold bitcoin, but we also want to increase the usefulness of bitcoin. “

According to the Miami Herald, Suarez’s promotion of cryptocurrency over the past year has garnered him the attention of a national audience, even amid local political scandals.



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