The City of Miami Commission voted to withdrawal $4.5 million in MiamiCoin contributions that will be used for local projects.
The MiamiCoin project in Florida has already seen contributions to the protocol swell to around $4.5 million in a little over a month. MiamiCoin is a cryptocurrency that runs on the Stacks Protocol and gives the city a new way to raise funds for city projects. The mining process sends some of the crypto earned into a wallet that the City of Miami can use to help the financial needs of the city. An investment in MiamiCoin is, in essence, an investment in the city of Miami.
Miners who work with MiamiCoin earn crypto along with helping to support Miami.