MiamiCoin remains in its 'initial inning': Mayor Suarez
Miami Mayor Francis Suarez talks about the city's cryptocurrency cutting-edge as well as profits success regardless of its record-low stock price.
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MAYOR FRANCIS SUAREZ: It's been a success from the viewpoint of what it's done for the city, right? It's created $20 million in revenue for the city because a percent of the mining benefit is separated right into a digital wallet for the city; that's $5 million that we have actually made use of for rent stabilization funds, we're seeing as a result of rising cost of living, rental fees increasing across the country. And also the other $15 million, we're doing something extremely innovative …
Certainly the price is down significantly. I've never ever stressed over the price, neither bitcoin nor MiamiCoin. I assume what Mark Cuban claimed is in fact extremely exact. This remains in the very first inning, all of these innovations. And also what's truly important is, firstly, the liquidity rate, being able to get in and also out of it due to the fact that the utility is basically what is going to be important as to whether or not any one of these technologies make it through in the future. Are they extremely useful? Do they offer individuals the ability to trade these currencies for goods in a selection of different nations? Do they allow for compensations? Do they separate tyrannical programs since they do not manage the currency? I mean, there's a lot of great usage situations. And it continues to be to be seen whether they will certainly all be utilized.
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