$21 Million for MiamiCoin

What is happening? Miami has created a partnership that earns it a portion of the proceeds from MiamiCoin. So far Miami has earned $21 million.

Why is this important? MiamiCoin is the city’s version of CityCoins, digital tokens which people can hold and trade as a stake in their city’s government. The idealized view is that MiamiCoin will remove the need to pay local taxes.

How will this be important? Miami is the 1st city in the country to adopt this program, and by all accounts it has so far been beneficial.

The Hill | Miami residents to receive city cryptocurrency proceeds, mayor says