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New York Now Has Its Own Cryptocurrency. NYCCoin Is Available Starting From Today

NYCCoin Is Available

A new cryptocurrency, NYCCoin, has been recently launched to benefit New York City. Previously, MiamiCoin was successfully released. The Miami cryptocurrency was created by the same people.

The Mayor of New York wrote on his Twitter that, on his initiative and with the assistance of the city community, on November 11, the CityCoins platform will start mining the city's municipal cryptocurrency. They want to use the digital asset to finance city events and other programs.

NewYorkCityCoin is a cryptocurrency powered by Stacks, which allows the use of smart contracts in bitcoins, as well as coin mining.

The city government will receive 30% of NYCCoin's mining revenues. The city can convert cryptocurrency into dollars at any time.

The recently elected mayor has already made proposals regarding cryptocurrency. For example, he announced that he plans to receive the first three salaries as mayor in bitcoins. In addition, he proposed introducing training in the basics of cryptocurrency in schools.

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