City governments can embrace Bitcoin and crypto faster than nations.
Miami Mayor @FrancisSuarez is experimenting with crypto to give Miami a Bitcoin-yielding treasury.
A thread on cities and crypto👇
Miami Mayor @FrancisSuarez is experimenting with crypto to give Miami a Bitcoin-yielding treasury.
A thread on cities and crypto👇
1/ There are at least two ways city governments can embrace crypto:
(a) cities can put Bitcoin on their balance sheet, and
(b) they can issue a "governance token" to engage their citizens.
(a) cities can put Bitcoin on their balance sheet, and
(b) they can issue a "governance token" to engage their citizens.
2/ Cities like NYC run on billions of dollars. Like public companies, city governments can also diversify their cash balances into Bitcoin.
@michael_saylor wrote the book for Bitcoin corporate treasuries; forward-looking mayors like Suarez might write a similar book for cities.
@michael_saylor wrote the book for Bitcoin corporate treasuries; forward-looking mayors like Suarez might write a similar book for cities.
3/ Beyond Bitcoin holdings, cities can experiment with using crypto to engage their citizens. A simple idea is to have 'city futures' that can trade.
SF just made another horrible local policy? SF futures 📉
Suarez just brought more business to Miami? Miami futures 📈
SF just made another horrible local policy? SF futures 📉
Suarez just brought more business to Miami? Miami futures 📈
4/ City futures are interesting, and you can extend them by using the asset as a "governance token" (it's a loaded term, but the design space is fascinating).
After all, the citizens or stakeholders (who don't necessarily live in the city) should have some say in local policies.
After all, the citizens or stakeholders (who don't necessarily live in the city) should have some say in local policies.
5/ These city futures or governance tokens might start off looking like toys.
They don't have meaning if the local government doesn't recognize them.
But what if they do? That’s happening in Miami with MiamiCoin!
They don't have meaning if the local government doesn't recognize them.
But what if they do? That’s happening in Miami with MiamiCoin!
6/ @mineCityCoins project is actively developing the above ideas.
Their focus is on enabling crypto treasuries for cities. Audacious goal of on-boarding city governments to crypto!
Their focus is on enabling crypto treasuries for cities. Audacious goal of on-boarding city governments to crypto!
7/ They've designed the governance/futures tokens to have a Bitcoin yield.
The Bitcoin yield is a game-changer.
The BTC yield gives the new asset a floor value. It is worth at least as much as the BTC yield it can generate.
The Bitcoin yield is a game-changer.
The BTC yield gives the new asset a floor value. It is worth at least as much as the BTC yield it can generate.
8/ Mayor Suarez is leading Miami in embracing Bitcoin and crypto.
The project is launching this week, built on Stacks + Bitcoin.
If the experiment works, Miami can have a Bitcoin-yielding treasury, and citizens can trade Miami futures.
The project is launching this week, built on Stacks + Bitcoin.
If the experiment works, Miami can have a Bitcoin-yielding treasury, and citizens can trade Miami futures.
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