- The program assumes that miners will be able to mine “coins” of Philadelphia, while replenishing the treasury of the city
The Mayor of Philadelphia announced plans to conclude an agreement with CityCoins
The city will become the fourth participant of the project in the USA
Philadelphia appears to be determined to follow in the footsteps of New York, Austin and Miami by becoming part of the CityCoins project. It allows citizens to mine cryptocurrency while helping to develop their city.
Philadelphia Mayor Jim Kenny announced these plans. The politician stressed that he is looking forward to the future partnership with CityCoins with enthusiasm. According to him, this agreement will solve the pressing problems in the city.
More details about the CityCoins project, as well as the first successes of Miami in mining and turnover of its cryptocurrency, we talked about in the relevant material.
Once Philadelphia has its own currency, users will be able to mine it. At the same time, about % of the market value of each asset is deposited in a wallet accessible only to the treasury of the city.
These funds can be spent on the development of infrastructure, education, creation of new and promotion of old innovative projects. CityCoins is committed to partnering only with “technology friendly” metropolitan areas in the US.
Despite the fall in the BTC rate, Philadelphia authorities are optimistic about the partnership. Mark Wheeler, Chief Information Officer of the City Hall, commented on the project:
“I had several private conversations with my superiors and personally with the head of the city. He was very excited and said it was a good idea.”
So far, the project is at an early stage. It is too early to talk about when the miners will be able to get the first “coins”.