New York City, the most populous city in the United States, is getting a digital token of its own. The city is set to get its digital token, NYCCoin, with support from incoming mayor Eric Adams, who plans to turn New York into the next big cryptocurrency hub. This came hand-in-hand with Adams’ interest to make cryptocurrency part of curriculum in schools, as per an interview of him with CNN. Earlier, after winning the mayor’s chair in a landslide victory, Adams had tweeted that he would take his first three paychecks in Bitcoin, — the largest cryptocurrency in the world currently.
Adams’ decision to take payments via Bitcoin is indeed unique and this has fuelled the launch of NYC’s own digital token. Here are some facts about NYCCoin:
1) NYCCoins is being launched by CityCoins, which is a civic-minded community and open-source protocol. This gives investors a chance to support their cities by expanding their crypto treasury. This can be done while earning for themselves as well. According to CityCoin’s website, it has three main functions: Activation, Mining, and Stacking. “NewYorkCityCoin (NYCCoin) provides new ways for people to support New York City and grow its crypto treasury while earning Stacks (STX) and Bitcoin (BTC),” the website further mentions.