The Cryptocurrency. The Mayor. & The Power Plant.

What’s happening? Miami has partnered with CityCoin to accept MiamiCoin for tax purposes and other city purposes. The mining and exchange generates revenue for Miami.

Why is this important? Annually the program is expected to generate $60 M and the mayor believes it will turn Miami into an innovation hub as the first city to begin this endeavor.

How will this be important? The key is watching the negotiations between the Mayor and a power plant. Cryptocurrency mining utilizes a lot of power.

Washington Post | Crypto tax: ‘MiamiCoin’ has made the city $7 million so far, a potential game-changer for revenue collection