Miami Plans to Give Bitcoin Yield to Its Residents

Francis Suarez, the Mayor of Miami City known for his crypto-friendly stance, announced recently that Miami will become the first city in the world to give its citizens a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term dividend. Miamians will be able to get BTC rewards from the staking of the city’s cryptocurrency.

The global crypto community welcomed the latest decision from Suarez and termed it as a major step towards crypto adoption. Earlier this year, the Mayor of Miami said that he holds Bitcoin and Ethereum.

In a recent interview with CoinDesk TV, Suarez outlined that the crypto community needs to increase the utility of Bitcoin. “We’re going to be the first city in America to give a bitcoin yield as a dividend directly to its residents. We need for people to understand that … yes, we want you to hold bitcoin, but we also want to increase the utility of bitcoin,” Suarez mentioned.

In the past, the Mayor of Miami remained vocal about the use of energy in Bitcoin mining. According to him, the United States has clean energy for BTC mining.

Miami, the Next Crypto Hub?

In June 2021, Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.com, a leading crypto services provider, announced that the company is planning to shift its US headquarters to Miami. In the last 10 months, several other leading crypto firms have moved to the city because of its Bitcoin-friendly policies.

“The city is looking at ways to introduce Bitcoin digital wallets to distribute the yield to residents, with a registration and verification system likely required to ensure only people living within the city limits benefit from the program. Miami has gained traction during the pandemic as an alternative finance hub to New York, with fierce competition between the cities now to attract talent and businesses. Earlier in the month, Suarez announced he would take a paycheck solely paid in bitcoin,” Simon Peters, Market Analyst at eToro, commented on the recent developments.