City Coin: Best Way To Invest In The Future

September 17, 2021September 23, 2021

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“Future of investing is investing into the future” is one of my strong belief. This led me to exploring ways to invest in disruptive innovation initiatives that aim to deliver long-term growth with low correlation to traditional investment strategies. One such opportunity is “City coin” poised to support building cities of future.

What Is City Coin?

CityCoins offer people a way to support their city and grow its crypto treasury while earning Bitcoin BTC and Stacks STX for themselves. Each city has their own coin, starting with Miami and MiamiCoin ($MIA).

The Genesis of City Coin

Any human society or city, is built upon the laws of commerce and trade. It is a fundamental principle of the human condition. Without it, we wouldn’t be were we are today. Yet, the majority of trades are still done using either traditional cash payments, or through many obscure layers of financial institutions and banking.

Bitcoin and blockchain technologies, have in many ways disrupted how we look at the current financial institutions and banking, but this technology is still new and different. It takes a lot of effort for the average citizen to understand how it works, and how to adopt and benefit from it.

The evolution of distributed ledger technology led to City Coin to become the foundation for a Smart Cities, which leverages blockchain technology to improve and modernize how a city can organize and deliver services to its citizens.

City Coins: Are they the Era of New Coins?

Miami Coin Has Arrived

MiamiCoin ($MIA) is the first CityCoin to market, going live soon. MiamiCoin is a cryptocurrency powered by the Stacks Protocol, which enables smart contracts on Bitcoin. MIA has launched on 3rd Aug 2021.

The coin was developed through CityCoins, a grassroots initiative which allows users to mine coins for their favorite city while also taking a cut of the yield. The premise is that CityCoins can generate two types of cryptocurrency – bitcoin and stacks tokens (STX) – for miners while also diverting funds to treasuries reserved for specific cities. The process relies on the Stacks protocol, which is an open-source network that works alongside the Stacks blockchain.

MiamiCoin provides an ongoing crypto revenue stream for the city, while also generating STX and BTC for $MIA holders. MiamiCoin can be mined or bought by individuals who want to support the Magic City and benefit from the Stacks protocol.

Mining MiamiCoin directly benefits the city of Miami by automatically directing STX to a wallet reserved for the city. MiamiCoin benefits holders by allowing them to Stack and earn STX through the Stacks protocol. The city of Miami can elect to use its growing crypto treasury to benefit the city and its constituents – think new public spaces, improvements to infrastructure, hosting city events, recruiting startups, and more.

MiamiCoin ($MIA), is the first CityCoin to market. In short, 30 percent of the yield is collected in a wallet reserved for Miami, while the remaining 70 percent goes to the miner.

City Coin Features

For City Coins t enable a more widespread acceptance and utilization of crypto-currencies it is required that the apps and services are easy and friendly to use. It should be both delightful and enjoyable to use, so much that people will prefer it over existing methods. The following list of features City Coin could offer,

New-Age Communities: Encrypted, anonymous secure communities. Enabling anyone, friends, neighborhoods, merchants or anyone to communicate secure and anonymous.
One-City: Streamlined and user friendly dashboard for citizens, accessing all features of their Smart Cities.
Identities: What you want to be identified as, is up to you. Your identities are secure, and you can use them across all services on the platform.
Certifications: Digital verifiable certifications that can be issued by educators, corporations and more. Keep track of them all in a single place.
Contracts: Keep your contracts, digital or analog, stored and accessible through the platform.
Transactions On The Go: To greatly simplify sending coins and digital assets, the contact registries will make it possible to transfer coins using phone numbers.
Local Business Ecosystems: A complete framework, including a user friendly Point-of-Sale (POS) features, that enables merchants to quickly add support for City Chain, and with management tools to manage coins and digital assets. Merchants can decide to be part of a global merchant registry accessible to citizens.
Voting Framework: Voting that anyone can initiate, including citizens, merchants, corporations and city owners and managers.
Insurance: Insurance is an important part of a modern society, we will work to integrate with existing blockchains.
Property Registry: Can be used for land registry, and registry of other properties.
Vehicle Registry: As an owner of vehicles, you will be able to register your vehicles on the City Hub, and we will work to integrate with existing blockchains.
Subscriptions: Track your subscriptions, to public services and a lot more.

This is just the beginning, and hoping that the communities will bring many new ideas to the City Coins.

What’s On The Plate For Miami Coin

MiamiCoin investments could be used for roads, parks, regional resilience. In a way MiamiCoin users are making an investment in the quality of the city’s future. According to Michael Sarasti, Miami’s chief information officer and its director of innovation and technology, “People are betting on Miami to be successful, and from a holder perspective, when Miami does better, their coin does better.”. MiamiCoin generated more than $5M for city in last 30 days.

Miami has now become the bitcoin capitol of the world, and city is focusing on differentiating their economy by creating the new wave of technological products that will incentivize people to move to Miami and be part of our tech ecosystem.

In future endeavors with $MIA, individuals should be able to buy goods and services without requiring any conversion of currencies, or repetitive tasks such as filling out registration forms. People identities are stored securely on the MiamiCoin blockchain, and when an individual purchase a new service, for example insurance, which might exist on a different blockchain and rely on a different currency, can get the benefits from the integrations built into the $MIA Platform. People simply pick your services, select identities, and perform payments. The active subscriptions individuals have, and the history of payments, are can be accessible through distributed platform.

Way Forward

Nation states have also started embracing cryptocurrency. In June, El Salvador became the first nation to recognize bitcoin as legal tender and it began offering citizens $30 USD worth of bitcoin to sign up to the government’s new crypto wallet.

While the strategy for replicating Miami’s success is beginning to take shape, CityCoins’ trajectory remains open-ended and gearing up to mass adaption. Blockchain technology is allowing micro investments and democratizing the partial ownership. By investing in City Coins, we can be part of next-level growth of the city we live in, for that matter any city on the map, and get a share of monetizing the growth around us. City Coin is just the beginning of investing into the future of our neighborhood!

Buy MIA Coin at KuCoin Crypto Exchange

Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.