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Mayor Eric Adams Said He Wanted To Turn New York Into A Crypto Hub — Now, It May Be Happening

Mayor Eric Adams can officially cross his goal for New York City to have its own cryptocurrency off his list of goals. AfroTech previously shared that Adams had a vision of transforming New York City into a crypto hub, similar to Miami’s MiamiCoin. Now, Markets Insider reports that New York City is getting its own digital coin, NYCCoin. On Nov. 10, NYCCoin mining will be activated by CityCoins, a non-profit and open-source protocol that allows investors to support their cities by expanding their crypto treasury while earning for themselves, according to the outlet. Anyone can compete to mine NYCCoin and when digital coins are purchased or mined, 30 percent of its reward goes to the city. NYCCoin mining is officially ready to be activated! Once 20 miners interact with the contract, the mining process will activate. No mining will occur for 150 blocks (~24 hours). After that, all miners will be able to start mining NYCCoin! — CityCoins (@mineCityCoins) November...

Ngozi Nwanji

Nov 10, 2021