Rio wants to have cryptocurrency like Miami did. Photo: Rafael Nogueira, Unsplash.
Following in the footsteps of the mayor of Miami, Eduardo Paes, mayor of Rio de Janeiro, announced that the city will also have its cryptocurrency. “We are going to launch Cripto Rio and invest 1% of the treasure in cryptocurrency”, he said during the Rio Innovation Week, which started yesterday (13) and runs until Sunday (16). The mayor’s goal goes beyond cryptocurrency, but to transform the state capital into a crypto hub, according to news in the newspaper O Globo.
A group will study the subject, including the legal aspects. According to Pedro Paulo, Secretary of Finance of Rio, one possibility could be discounts for those who pay taxes with bitcoins. “You take the discount of the single quota of 7%, you would make 10% if you pay in bitcoin”.
Another Rio initiative involving blockchain is the carbon credit bag that uses the solution. It will be the first of its kind in the country and the forecast is to start operating at the beginning of this year. AirCarbon Brasil, is a partnership of the Brazilian BlockC, which has a blockchain platform for decarbonization projects, Singapore’s AirCarbon Exchange, Rio City Hall and Santander.
Paes participated in a panel with Francis Suarez, mayor of Miami, which has MiamiCoin, the first CityCoin on the market. Since June 8, when it entered into trading, it has been accumulating losses. It came to $0.305. Since then, it has been falling and is at US$ 0.009224, this Friday at 18:24. MiamiCoin is a currency that people can mine or buy. And with it, it is possible to receive performance in the Stacks protocol.
The mayor of New York also wants to turn the city into a cryptocurrency hub. The analysts’ doubt is that the state has strict rules for the sector and they ask if this will be possible.