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April 9, 2022

Why Mayors of NYC and Miami Support Blockchain

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The mayors of New York City and Miami support blockchain and cryptocurrency because these technologies promote equality through financial accessibility. They also noted how friendly political regimes will attract talented and innovative companies. (Inveniam Conference)

According to the Federal Reserve’s Report on the Economic Well-Being of U.S. Households in 2020 – May 2021, 18% of Americans were “underbanked” or “unbanked” meaning that traditional financial institutions did not meet their needs. (Federal Reserve Report)

Francis Suarez and Eric Adams were paid in bitcoin earlier this year. (Suarez Paid in Bitcoin) (Adams Paid in Bitcoin) The mayors’ actions and statements make it clear they realize blockchain technology can improve the financial experience for their underbanked and unbanked citizens.

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