The mayor of the city of Lafayette proposed to create a local cryptocurrency and hold ICO

Joel Robida (Joel Robideaux), mayor of Lafayette city of the U.S. state of Louisiana, has proposed an ambitious plan to issue the city its cryptocurrency and holding ICO. Robida, made this proposal during his annual speech at the Heymann Center.

Robida, spoke about the number of advantages that cryptocurrency can bring to the city, including positioning Lafayette as the technology centre, diversification of the local economy and streamlining processes for the provision of financial and government services. The mayor noted that the cryptocurrency will contribute to «the development of solutions aimed at improving public services and, more importantly, will provide alternatives for financing public infrastructure.»

«Not just a bunch of fighters for the freedom of the individual wants to enjoy the benefits of unregulated, untraceable and safe monetary transactions», — said Robida. «It’s all about the recognition of stakeholders of the fact that the world of banking, Finance and payments forever changed, healthcare, public services, and almost every industry will soon undergo major changes».

Given the fact that Lafayette economic incentives are needed, many believe the offer of Robida desperate attempt to inflate the city’s coffers. Under the proposed measures, Robida promised to reinvest the profit obtained via ICO to «build a laboratory for research and development of the blockchain».

The mayor of Lafayette was not the only representative of the municipal government, which encouraged the establishment of local cryptocurrency with state support. Representatives of the city of Berkeley in February it was announced
of its intention to launch a cryptocurrency using the ICO in an attempt to Finance the projects on construction of affordable housing.

To raise funds, the Council of the city of Berkeley plans to sell «micro-bonds on the basis of cryptocurrency» by offering investors low income is not taxed. A member of the city Council of Berkeley, Ben Bartlett (Ben Bartlett) said: «This is not a normal ICO, but rather the initial placement for our community. We decided to explore new forms of funding in response to budget cuts in the state and reduce corporate tax, which deprived us of the opportunity to Finance affordable housing.»

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