I’m not to prideful to admit I was wrong! I remember in conversation not long ago with Greg the CEO Intercoin that his long term vision was ahead of it’s time.
I was TOTALLY wrong! As it’s already happening!!! I acknowledge that the USA presents many hurdles when it comes to implementing cryptocurrency, blockchain, & even technically in general. But I’m thankful for some of our politicians paving the way. This article announces Miami as of tomorrow , August 3, 2021 will launch its own city coin.
I personally have so much respect for Mayor Francis Suarez for being a innovator and leading the process of turning Miami into a state of the art technology hub.
This Miami coin seems interesting, but it needs legislation to support its adoption as an actual currency – so far it seems to be a novelty, but Suarez supporting it definitely boosts its legitimacy
I think their mind is in the right place, however they have launched with no infrastructure or local incentive to own and circulate Miami Coin. I think they should have developed an ability to utilize their coin in local markets. Even if they did restrict that initially to paying, court fees, tickets, access to city run museums and what not. One of the built in incentives to such could be a reduction of fee structure such to incentivize its use cases locally.
For instance, 30% of all Miami Coin purchases go to a city owned wallet to fund local projects. Now that could be considered a steep “tax” to some investors. However, if conversely the city provided a local economic incentives, (similar to coupon books given to travelers) and offered to local mom and pop shops utilization of the token at menu discounts. not only would it improve small business visibility, but also provide an incentive for Miami Coin utilization.
I agree 100% and I think when Intercoin approaches municipalities, this is the approach we should take.