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MiamiCoin Mining Underway As City Launches First-of-its-Kind Currency  

The city of Miami has launched its own digital currency called MiamiCoin, and as such will now be the first city to sponsor its own digital coin. So reports Motley Fool.

citycoin.jpegThe coin, which was created in partnership with CityCoins, was built using the Stacks programmable blockchain. While it is unclear what might happen in the future, federal law prohibits cities from creating their own spendable currencies, so CityCoins are not designed to be spent on day-to-day purchases.

“Communities will create apps that use tokens for rewards, local benefits, access control (to digital or physical spaces), trading, lending, smart contract execution, and more,” reads information from CityCoins.

Read the full article from the Motley Fool.

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