TL; DR breakdown
- Mayor Suarez wants to give free bitcoins to Miami residents.
- Residents do not need to hold MiamiCoin to be eligible.
- The mayor wants more people to trade bitcoins.
Acceptance of digital assets has already crossed the line, and most countries are looking for ways to regulate them so that their citizens can trade with them safely. While others are still wasting time on these regulations, some are taking the initiative and bringing cryptocurrencies to their citizens. That’s how Miami Mayor Francis Suarez is. In a new move to reaffirm its desire to turn the state into a crypto center, the mayor of Miami has announced that Miami residents are hoping to make Bitcoin dividends.
Residents no longer need to hold MiamiCoin to be eligible
Suarez said in an interview with Coindesk TV that they have announced plans to invest in the state’s local currency and earn a return on bitcoin. In addition, Suarez also stated that all bitcoins earned from MiamiCoin shares go directly into the wallets of state residents.
Previously, only MiamiCoin residents were eligible for betting rewards. Users can win prizes in the native Stacks, STX protocol or leading digital asset, Bitcoin. It should be noted that MiamiCoin is built on a blockchain that incorporates the Stacks protocol. According to him on Coindesk TV, all residents will be ready to receive a bitcoin reward even if they do not have the state native token.
Mayor Suarez wants more people to hold and trade bitcoins
Launched in August, MiamiCoin traders were allowed to invest in various projects across the state using the token. The state adds each transaction to its coffers, and the state now has about $ 21 million in tokens.
Apart from Miami, New York and Austin, it has started a series of projects in this field. CityCoins, which is also built on China Stacks block, provides financing for projects. Suarez says the government will use smart contracts that allow it to participate in the Bitcoin network using Stacks to achieve its goal.
Mayor Suarez said the government is looking to create a digital wallet for everyone across the country, in which bitcoins are deposited by everyone at the time of return. However, Suarez noted that he does not know how to choose people to receive the wallet. Mayor Suarez noted that they have to choose between taxpayers, state citizens or voters.
Finally, he said the city hopes to work with cryptocurrencies to help eligible parties configure their wallets and bypass criminals. According to Mayor Suarez, the main purpose of the program was to attract more people to Bitcoin, even if they have MiamiCoin or not.