Mayor Suarez on MiamiCoin launch, says city is focused on ‘differentiating our economy’
The City of Miami could earn 'millions of dollars' as a result of MiamiCoin's popularity, says Suarez
Miami Mayor Francis Suarez discussed MiamiCoin, the city’s newest cryptocurrency initiative during an appearance on "Varney & Co." Tuesday. The Florida mayor says the city is focused on ‘differentiating its economy’ by ‘creating the new wave of technological products.’
MAYOR FRANCIS SUAREZ: … The City of Miami could end up earning millions of dollars as a result of the popularity of MiamiCoin, because obviously Miami has now become, and we've talked about this many times on your program, the bitcoin capitol of the world; and we're focusing on differentiating our economy by creating the new wave of technological products that will incentivize people to move to Miami and be part of our tech ecosystem.
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It’s like a Bitcoin and it's on the blockchain protocol; so whenever that coin is mined, a percentage of the coin by virtue of the programing goes to the City of Miami. It's actually 30 percent of what's mined, 70 percent will actually go to the miners. … Miami will benefit from the use of the MiamiCoin and from the branding that is associated with it. And that will go directly into our general fund.
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