Philadelphia Mayor Jim Kenney has endorsed the concept and told government news media site Statescoop that his office is “enthusiastic about the potential of donations from a CityCoins program to target pressing problems in the city.”
Philly’s Chief Information Officer and apparent Bitcoin (BTC) supporter Mark Wheeler said that “Philly is ready” to begin working with CityCoins in a Jan. 31 tweet.
CityCoins is a software application on the Stacks (STX) blockchain that helps city governments create a unique cryptocurrency. Transactions on Stacks settle on the Bitcoin network.
New York City and Miami are already using CityCoins to increase their treasury holdings. Thirty percent of mined STX tokens are sent to the city’s wallet then sold for USD which goes directly into the city treasury. Miners retain the rest.
In a Feb. 1 interview, Wheeler indicated that the city would begin formally vetting CityCoins to ensure that any potential partnership they enter into together complies with existing laws concerning cryptocurrency.
Wheeler addressed the environmental concern of adopting a program that utilizes a Proof-of-Work blockchain like Bitcoin. He pointed out that CityCoins doesn’t require users to use any additional hardware which could generate further harm to the environment. He told Statescoop on Feb. 1:
“I think we can simply say, ‘This isn’t Bitcoin and it’s not requiring new servers to be set up and it’s not requiring intensive energy use.’ I think that’s a valid, verifiable statement.”
Last November, Wheeler announced that Philadelphia would work toward adding blockchain technology to the city’s government. He took the city of Miami as inspiration for the initiative.
Miami launched its MiamiCoin with CityCoins last August to help the city raise funds which Mayor Francis Suarez said could be used to cover the tax burden for all of its residents.
New York City launched its NYCCoin in a partnership with CityCoins last November. As with MiamiCoin, NYCCoin miners receive STX and BTC rewards for supplying the city with tokens.
Austin, Texas has also entered into a partnership with CityCoins, but mining has not yet begun.
Algorand Has Appointed JPMorgan high-flyer Staci Warden As Its New CEO.
Algorand appoints new CEO Staci Warden
“I am excited to build on everything the Foundation has achieved to date, and will be focused on scaling our commitment to our community and our global partners,” she said.
“1.7 billion people in the world do not have access to finance, and the Algorand protocol has the speed, the security, and the decentralisation to address the problem of global financial inclusion at scale.
“By both ratcheting up our global ambitions as well as doubling down on our commitment to the DeFi ecosystem, I know that we will deliver tremendous value for both the Algorand ecosystem as a whole and the end-users it supports.”
The appointment of a new CEO marks an end to the leadership of outgoing Algorand CEO Sean Lee.
Lee served as CEO of the blockchain for 18 months and played a pivotal role in cementing Algorand’s market position throughout the sensational explosion in crypto markets in 2021.
During his time at the helm of Algorand, Lee prioritised community governance and sewed the seeds for the future of the ALGO ecosystem through the Accelerated Vesting program and launch of Viridis and Aeneas DeFi funding programs.
Commenting on his departure, Lee revealed he will be moving on to other projects in the crypto industry.
“I’ve decided to leave the Algorand Foundation to pursue new opportunities in the blockchain space,” said Lee.
“Seeing the transformative potential of the applications being built on Algorand, now is the time for me to explore those avenues.
“I have deep confidence in Staci’s ability to lead the Algorand Foundation and the Algorand ecosystem through its next growth phase.”
Manchester United selects Tezos as official blockchain partner
Manchester United selects Tezos as official blockchain partner
Tezos-branded training kit will be worn by the first team squad prior to this weekend’s match against Southampton, introducing Manchester United fans to the partnership and Web3 technology through the Tezos blockchain.
Victoria Timpson, Manchester United’s CEO of Alliances and Partnerships, said it was an exciting partnership for Manchester United “because it aligns us with one of the most advanced, reliable and sustainable blockchains in an area of technology which promises to truly revolutionise the way that everyone, including the club and our fans, can interact”.
“We are especially pleased to be partnering with one of the most eco-friendly blockchains, using technology that is energy-efficient, limits carbon emissions and lowers costs, consistent with the Club’s wider efforts to promote environmental sustainability,” she said.
“Partnerships are at the core of our strength as a club, supporting the drive for success on the pitch, and we are delighted to welcome Tezos as the latest industry leader to join our family of partners.”
Edward Adlard, Head of Adoption and Business Development, Tezos Ecosystem added that, throughout its history, Manchester United had constantly evolved, with the support of its global community of fans and partners.
“Tezos will enable Manchester United to use blockchain and Web3 to transform fan, player, team, and partner engagement,” he said.
“The decision by the world’s greatest football club to select Tezos as its blockchain of choice is further validation that thoughtful design paired with strong security, low gas fees, and community-led innovation are the essential factors driving the next wave of adoption in the new digital revolution.”
In addition to the Tezos branding on the club’s training kit, the partnership will also include several new fan experiences built on the Tezos blockchain and a pledge to support Manchester United Foundation with ongoing donations in TEZ – the native currency of the Tezos blockchain – to train, educate and inspire young people within the local community.
Shiba Inu Announces Virtual Real Estate on Shiberse Ecosystem
Shiba Inu Announces Virtual Real Estate on Shiberse Ecosystem
In an attempt to enter the metaverse in 2022, the meme coin Shiba Inu has unfurled its virtual real estate ‘Shiba Lands’. The new realm of real estate will be available for public auction or purchase soon.
In this new venture, SHIB token holders can own a part of the Shiberse metaverse. Meanwhile, the meme coin has yet to confirm the advantages of owning the lands in its metaverse. So far, the project said that people owning land in Shiba Real Estate would gain a lot of benefits.
As tweeted by Watcher Guru, a media covering crypto news, Shiba Inu will declare the purchase period of virtual real estate soon.
To prevent high gas fees, which happened in the Shiboshi NFT launch 2021, the Shiberse ecosystem will create a queue system for its land release. The queue system can process the sale more smoothly and in a much fair manner for customers.
LEASH coin holders will get priority access to the queue in the first period of land release. Afterward, the queue will be open to the public.
Shiba Inu has stated in its blog ShibaSwap:
This queue allows exclusivity by requiring interested parties to hold “$LEASH“, which gives priority and exclusive access to this first selling phase of the land plots in our Metaverse. In addition to the queue, we also have worked on an anti-dump system in order to protect $LEASH holders. The remaining lands will then unlock, and become available for the public after this exclusive selling process finalizes.
To highlight, the Shiba Land properties will initially be auctioned. Here, users can bid their land and location soon after the project announces the date of auction.
Earlier, virtual platforms like Decentraland, Gala Games, Sandbox, and Axie Infinity had fixed their position in the metaverse. Now, Shiberse has marked its growth in the metaverse which plows for more competition among other meta platforms.
Despite being the latest entry to the metaverse, Shiba Inu has gained wide attention from investors who believe in its developing potential.
Report: Korean Regulator Approves Issuance And Distribution Of Security Tokens
South Korea’s Financial Services Commission (FSC) has reportedly said that Korean investors will soon be able to easily invest and...
Google Introduces ChatGPT-Like Conversational AI Chatbot
Google has introduced a conversational AI chatbot called Bard to catch up with ChatGPT Google has introduced ‘Bard,’ a conversational...
UK crypto firms could be jailed for 2 years for violating advertising laws
The new proposed advertising rules in the UK could subject executives of crypto firms to up to two years in...
Ethereum’s future hinges on validators amidst declining interest and market trends
Ethereum network’s validator numbers remained steady despite bear market. Decreased whale interest, network growth, velocity, and trader sentiment raised concerns....
Digital Currency Group Sells Grayscale Shares to Raise Funds Amid Financial Difficulties
Digital Currency Group (DCG), a crypto conglomerate backed by SoftBank, is selling shares in several of its investment vehicles run...
DCG sells $22M worth of Grayscale shares to raise funds
DCG sells $22M worth of Grayscale shares to raise funds Christian Nwobodo · 2 hours ago · 1 min read...
Evaluating whether this new proposal can help SUSHI beat the bears
SUSHI Vesting Merkle Tree Clawback passed implementation with over 99% support. A few metrics and market indicators were bullish, but...
Curve Protocol beckons investors following Frax Finance’s high APR
Frax Finance offered a high APR, attracting potential CRV users. Despite treasury growth, Curve struggled with declining user and developer...
Central Bank Of Argentina To Issue New 2,000 Peso Bill As Inflation Keeps Rising
The Central Bank of Argentina has announced the issuance of a new 2,000 peso bill, aimed at easing the burden...
Genesis Bankruptcy Restructuring Advances with DCG’s Plan to Sell Trading Division
Digital Currency Group (DCG) and its subsidiary Genesis have reached an agreement with a key group of creditors over the...
Ethereum [ETH] bulls, watch for a reaction at these levels to buy
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s...
This Dogecoin wallet comes alive after nine years as DOGE…
A dormant Dogecoin wallet was reactivated after almost a decade. DOGE long-term outlook was not on the bullish side. According...
Arbitrum Airdrop Guide
Arbitrum is an Ethereum scaling solution that is taking the crypto community by storm with hints of a potential upcoming...
Gemini comes to agreement with Genesis as Cameron Winklevoss declares $100M contribution
Gemini comes to agreement with Genesis as Cameron Winklevoss declares $100M contribution Liam ‘Akiba’ Wright · 11 hours ago ·...
Uniswap BNB deployment is ‘now or never’ as a16z disagrees on bridge solution
Uniswap BNB deployment is ‘now or never’ as a16z disagrees on bridge solution Liam ‘Akiba’ Wright · 11 hours ago...
Gala Games Price Prediction
Gala Games is on the verge of becoming a Web3 gaming powerhouse, with numerous games — including iconic brands —...
FTX’s bankruptcy judge is undecided on appointing independent examiner
FTX’s bankruptcy judge is undecided on appointing independent examiner Mike Dalton · 13 hours ago · 2 min read Judge...
Why ApeCoin [APE] did not respond to BAYC’s achievements?
ApeCoin’s price decreased by over 5% in the last seven days. APE’s Galaxy Score was bullish but market indicators inclined...
Amesbury7 days ago
Massachusetts-Based Bankprov To End Loan Offerings Secured By Cryptocurrency Mining Rigs
$1.4 billion7 days ago
Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ To Voyager Digital
Alameda Research subsidiary7 days ago
FTX Debtors Seek Dismissal Of Turkish Entities In Chapter 11 Bankruptcy Proceedings
24-hour performance5 days ago
Smart Contract Token Market Soars To $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse
/r/Bitcoin5 days ago
Bitcoin Records Largest Mined Block To Date, 4 MB Block Containing NFT Causes Unease Among Small-Block Supporters
Uncategorized3 days ago
Google Backs AI Firm Anthropic With $300 Million, Following Series B Investment From Controversial FTX Co-Founder
0.25%6 days ago
Federal Reserve Raises Benchmark Interest Rate By 0.25%, Disinflationary Process ‘Early,’ Says Powell
bank account4 days ago
Experts Predict Future Regulation Of Crypto Exchanges By 2025, With Split Opinion On Similarity To Traditional Finance