Cryptocurrency

Miami Mayor Wants to Disburse $21 Million in Crypto to Citizens

Miami is one of those states in America which is keen to take on new initiatives and try its best to adhere to them for the foreseeable future. When the crypto craze went viral and became a sensation around the globe, the state of Miami got focused on the idea of decentralization and began approaching it. Mayor Francis Suarez was among those American leaders who supported Bitcoin, cryptocurrencies, and the idea of decentralization.

The Mayor of Miami was keen from the get-go to do something with crypto because he saw promise in that and for the citizens. Long story short, there was an initiative built around developing a new coin for Miami by the name of Miami coin. The whole project took some time, the blockchain was developed for the coin, and soon it began trading not so long ago. The mining of Miami coin has earned the state $21 million, which is kind of a big deal.

Mining Rewards of Miami Coin

This massive amount is set to be disbursed to Miami citizens by the mayor. There are about 442,000 citizens in Miami, and the amount will be disbursed to all of them. This is an initiative that is being taken generously by the citizens of Miami and is believed to be an integral part of the future political campaigns about to be set up in the state. The Mayor of Miami has acquired a lot of respect and a kind stance from the citizens by supporting cryptocurrencies. He so much so appreciates cryptocurrencies and decentralization that back then, he wished to be paid in Bitcoin. In fact, to this day, Francis Suarez believes that government employees should be paid in Bitcoin.

New York City is the second in line to launch its own coin, and the mining of this digital asset is still to commence. According to an estimate of the $21 million acquired through the mining of Miami coin, Mayor will give each and every citizen of Miami about $47 in Bitcoin. To do so, every citizen will be presented with a digital wallet of their own so they can use it for different purposes, such as purchasing products and services through Bitcoin and facilitating themselves with more uses of the crypto.

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