{"id":11358,"date":"2021-10-01T17:02:59","date_gmt":"2021-10-01T16:02:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=11358"},"modified":"2021-10-01T17:03:09","modified_gmt":"2021-10-01T16:03:09","slug":"miamicoin-generates-almost-8-million-for-the-city-of-miami","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/miamicoin-generates-almost-8-million-for-the-city-of-miami\/","title":{"rendered":"MiamiCoin generates almost $8 Million for the city of Miami"},"content":{"rendered":"\n
MiamiCoin has generated nearly $8 million for the City of Miami<\/a> in two months of its introduction providing a continuing crypto revenue stream for the city. <\/h5>\n\n\n\n
\"MiamiCoin<\/figure>\n\n\n\n

MiamiCoin (MIA), a “city-centric” cryptocurrency introduced by CityCoins\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> in early August, has already raised approximately $8 million for Miami.<\/p>\n\n\n\n
\"\"<\/figure>\n\n\n\n

CityCoins is a blockchain initiative<\/a> that allows users to invest in cities by purchasing or mining the tokens that correspond to them. Users can earn Bitcoin (BTC) or Stacks (STX) tokens as a reward.<\/p>\n\n\n\n

According to CityCoins, \u201cMiamiCoin provides a continuing crypto revenue stream for the city, while also earning STX and BTC yield for $MIA holders.\u201d \u201cA wallet earmarked for Miami receives 30% of the STX from miners, while the remaining 70% can be stacked to gain STX and BTC.\u201d<\/p>\n\n\n\n

Miami's very own cryptocurrency, CityCoins' first of its kind, was created in early August. The Miami City Wallet balance was little over $7.86 million at the time of writing (6.415 million STX).<\/p>\n\n\n\n

The crypto push in Miami<\/h2>\n\n\n\n

MiamiCoin is a natural fit for Miami Mayor Francis Suarez's crypto goals, which include transforming the city into a “cryptocurrency innovation hub<\/a>.”<\/p>\n\n\n\n

Prior to MIA's introduction, he stated that “the City of Miami might end up earning millions of dollars as a result of the popularity of MiamiCoin.”<\/p>\n\n\n\n

Suarez noted at the time, “It's like Bitcoin, and it's on the blockchain system, so whenever that coin is mined, a part of the coin goes to the City of Miami by virtue of the programming.”<\/p>\n\n\n\n

Miami's city commissioners agreed to accept donations in MIA on September 13, a move CityCoins described as a “significant milestone” in a tweet.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Since its start, 1,248 miners have contributed their processing power to MiamiCoin, according to the project.<\/p>\n\n\n\n

According to Suarez, who spoke to The Washington<\/a> Post, MiamiCoin may earn up to $60 million for the city over the next year and “revolutionize” the way local programs are funded, assisting the city in addressing poverty and other social concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"

MiamiCoin has generated nearly $8 million for the City of Miami in two months of its introduction providing a continuing crypto revenue stream for the city. MiamiCoin (MIA), a “city-centric” cryptocurrency introduced by CityCoins in early August, has already raised approximately $8 million for Miami. CityCoins is a blockchain initiative that allows users to invest […]<\/p>\n","protected":false},"author":12,"featured_media":11367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[4744,570,4549],"class_list":["post-11358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-citycoins","tag-miami","tag-miamicoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/MiamiCoin-generates-almost-8-Million-for-the-city-of-Miami-1.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=11358"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/11367"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=11358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=11358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=11358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}