Brian Rose, a mayoral candidate in London, suggests introducing a new cryptocurrency called “LONDON coin” for city inhabitants. His proposal includes setting up a £1 billion fund, which will be funded through a one-time levy of 1% on the earnings of financial institutions based in London.
Based on Rose’s campaign, the LONDON token would become a common form of payment across London’s transportation system. This digital currency could be used not only for transport but also to settle council bills, parking fees, and various other expenses. According to Rose, implementing this innovation is essential for boosting London’s embrace and expansion in the cryptocurrency world.
“With the London coin, Londoners can have a tangible connection to their funds. They’ll be capable of saving, earning interest, trading, and even staking their assets using decentralized finance techniques, all conveniently through their mobile phones, according to Rose.”
He highlighted the power of the token in teaching London’s population of nine million about finance, imagining a future where everyone, no matter their background, can grasp financial concepts for the first time.
Should Rose get elected, she intends to present the LONDON token to prominent cryptocurrency exchanges and establish a comprehensive learning resource for London residents about cryptocurrencies. This program will provide them with valuable knowledge on handling digital wallets, investing in tokens, and interacting with blockchain economies. The objective is to expand their familiarity and acceptance of digital assets.
Also read: London Stock Exchange to Accept BTC & ETH ETNs in 2024
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2024-04-11 16:20