Brian Rose promises that a liquidity pool of £1 billion will be created for the new project. As a source of liquidity, the candidate proposes to use 1% of funds collected in the form of income taxes from the city's financial institutions.
The LONDON token, the politician dreams, will be accepted in the transport network, to pay for utilities, parking, and so on.
“LONDON will give Londoners a real perspective on managing their money. Citizens will be able to store coins, earn interest on them, save, trade tokens, place bets using decentralized finance protocols directly from their phones,” promised Brian Rose.
The LONDON token will be available through popular crypto exchanges, as well as on special financial crypto education platforms that will help citizens learn how to manage digital wallets. All that remains is to elect a politician to the post of mayor.
The idea of creating a municipal cryptocurrency has already been tested in the United States. In 2021, Miami Mayor Francis Suarez announced that his city became the first South Florida municipality to accept contributions to the city treasury in its own digital currency, MiamiCoin.
Source: Bits
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