The authorities of the city of Miami are planning to launch a program for the payment of “dividends” to residents of the city in BTC – for this, citizens must participate in the staking of the MiamiCoin cryptocurrency.
Miami’s own cryptocurrency appeared in August this year and has since brought in $ 21 million to the municipal treasury. As the mayor of the city Francis Suarez noted, if you extrapolate the figure for a year, then MiamiCoin brings about a fifth of tax revenue. He added that thanks to the project, in the long term, Miami may refuse to collect taxes from citizens.
MiamiCoin cryptocurrency is based on the Stacks protocol. Miami residents can stake or trade the coin. When coins are mined, 30% is transferred to the city wallet. As part of the new initiative, part of the income will be converted into bitcoins and distributed among MiamiCoin holders.
For this, the municipal IT department, together with several exchanges, will create a special wallet. Residents will need to install it, register and go through verification.
“Satoshi will be used for payments in the near future. People need to understand this. Yes, we want our citizens to have BTC, but at the same time we want to increase the list of practical applications of bitcoin, ”said the Mayor of Miami.
At the beginning of the month, Francis Suarez announced that he was ready to become the first American politician to receive a salary in bitcoins.
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