• Why is Austin (Texas) launching its own cryptocurrency?

  • In certain US cities, the cryptocurrency space is gaining traction and making waves. This is fantastic news because the United States has a long history of abhorring the crypto space.

    Austin (Texas) recently announced plans to launch its own cryptocurrency. This announcement comes on the heels of New York City’s planned launch of the NYCCoin and Miami’s MiamiCoin.

    The growing interest in the crypto space in the United States is causing a surge in development across the entire blockchain space. This move is expected to raise awareness of the blockchain and cryptocurrency space, leading to increased adoption.

    Miami and New York are setting the pace in the US cryptocurrency space.

    Miami and New York are currently on the cutting edge of introducing cryptocurrency to their residents. Surprisingly, MiamiCoin, CityCoin’s first project, has been a huge success since its inception. Since its inception in August, the coin has earned approximately USD 21.3 million.

    According to reports, the MiamiCoin is relatively simple to mine, and it is also traded on the popular cryptocurrency exchange OKCoin. Those interested can easily mine the coin using Stacks tokens ($STX).

    In addition, CityCoin Community Head Patrick Stanley praised the progress made with MiamiCoin. Reiterating that the project was a resounding success. “The citizens of Miami have benefited to the tune of $21 million so far, and that figure is only going to grow,” he said. It will continue to grow indefinitely. The amount of money contributed to Stacks never goes backwards and never stops, never stalls, it just keeps going up.”

    More information on NYCCoin

    On the other hand, New York Mayor-Elect Eric Adams has revealed plans to follow in Miami’s footsteps, disclosing methods to outperform what Miami and its MiamiCoin have been able to achieve. Adams believes that children should be taught about cryptocurrency and blockchain technology in schools.

    He also declared himself to be a crypto enthusiast right away. Bitcoin has recently been referred to as a new and dependable way to pay “[…] for goods and services all over the world.”

    Finally, Adams emphasized the potentials inherent in the crypto space. In addition, NYCCoin will be the second project on CityCoin, with Austin (Texas) crypto expected to launch soon. As a result, his next three (3) paychecks will be paid in Bitcoin.

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