After El Salvador, many governments at different levels are reaping the rewards of Bitcoin investment. Local and regional governments, in particular, are heavily investing in Bitcoin and getting results from it. While the extent of this practice is still very limited, its consequences seem to be positive everywhere.
Francis Suarez is a long-time proponent of cryptocurrencies and bitcoin. After becoming the mayor of Miami, he had vowed to make this beach town one of the crypto hubs of the world. With the way things are unfolding, he seems to be on the right track.
For the first time in the United States, citizens would get free cryptocurrencies delivered to their wallets by the government. That is what Suarez plans to do with the profits from Bitcoin yield by converting the city’s bitcoin-based MiamiCoin proceeds.
To further his plans, he will be working in close cooperation with CityCoins, the startup behind MiamiCoin. At present, the government of Miami is already working with CityCoins in many fields. While CityCoin handles the technical and troubleshooting parts, the administrative bodies handle the legal and bureaucratic tasks. Their experience of working together will help Suarez achieve his goal and distribute free cryptocurrencies.
Suarez is breaking headlines in the crypto world for another reason. To successfully combat the carbon-emission problem of Bitcoin mining, he has arranged to get a power supply from the Florida Nuclear Power Planty. If Suarez manages to turn his vision of distributing free cryptocurrencies to citizens’ wallets, he would be one of the most influential leaders in the country to contribute significantly to the development of cryptocurrency.