Miami Will Launch Its Own Cryptocurrency MiamiCoin

On August 4, the American city of Miami will launch its own cryptocurrency MiamiCoin, which will be used to finance infrastructure projects and events in the city. The idea is that people will support Miami by buying or mining MiamiCoin, and the funds will be funneled into the city's coffers.

MiamiCoin will be the first digital coin to be issued in the CityCoin ecosystem. CityCoins is a project that allows people to invest in a city by buying tokens. The project works with local authorities, so those who invest are rewarded in BTC or STX – a crypto asset of the Stacks protocol.

The MiamiCoin project is experimental, and it is not yet known if it will actually generate income for the city and investors. CityCoins says MiamiCoin (MIA) will be available on “certain trusted exchanges” from August 3rd. The exact list of exchanges will be presented soon.

Image: Fobus Coins