New York Will Launch Its Own Cryptocurrency

The NYCCoin token will be released by the CityCoins platform, on which the first municipal altcoin - MiamiCoin of the city of Miami was created in August
On November 11, New York cryptocurrency NYCCoin will start mining on the CityCoins platform . The creation of the municipal cryptocurrency is an initiative of the city community and the elected mayor of New York, Eric Adams. 
NYCCoin will be used to support city initiatives and fund events. Developers will be able to create smart contracts and decentralized applications (dApps) based on NYCCoin.








We're glad to welcome you to the global home of Web3! We're counting on tech and innovation to help drive our city forward. https://t.co/SY9pv1Ebct
— Eric Adams (@ericadamsfornyc) November 8, 2021
 
 





 
 
 






The CityCoins project allows municipalities to create their own tokens to attract investments in the city treasury. Investors can receive bitcoin rewards by staking city tokens. 






In August, the CityCoin project launched the first city cryptocurrency – MiamiCoin.
Adams, who won the mayoral election in New York in early November, has already made several statements about cryptocurrencies. 
 
 





 
 
 Adams, noted that he plans to receive the first three salaries as the head of the city in bitcoin. Adams also advocated teaching the basics of cryptocurrencies in schools.