Miami launched its cryptocurrency, MiamiCoin (MIA) on August 3, 2021, according to Miami time.
The establishment of the MIA will to some extent help the city’s income, including growing the economy.
MiamiCoin is the first token launched under the CityCoin project, an effort that allows the public to invest in the city through the purchase and mining of such tokens.
Interestingly, CityCoin in collaboration with local governments offers Bitcoin (BTC) or Stacks (STX) for anyone making an investment for Miami. STX is a native Stacks coin used for application development and smart contracts on the Bitcoin blockchain.
Anyone can mine MIA (or any new coin under the future CityCoin project). Every token that is mined and reaches a substantial amount, a portion will be put into Miami’s economic reserves.
Through the revenue, it will be used to develop the city, for example development or repair of infrastructure.
Mayor Francis Suarez has previously voiced his hopes of making Miami a hub for early technology and crypto firms. In fact, the city of Florida also very much welcomes Chinese Bitcoin miners.
MIA will be available on several crypto exchanges starting today (not sure what time) and a list of the exchanges involved will be announced in the near future.
