United States:
California City To Explore Blockchain-Based Financing
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The City of Berkeley, California will be the first U.S. city to
explore blockchain-based financing to tackle social issues such as
affordable housing. Mayor Jesse Arreguin and Councilmember
Ben Bartlett are collaborating with the UC Berkeley Blockchain Lab
and San Francisco-based financial startup Neighborly for the
Berkeley Blockchain Initiative
("BBI") to develop a tokenized
municipal bond. According to Forbes, Berkeley had a similar
idea twenty years ago with a local currency called "Berkeley
Bucks." This time, Neighborly explains, "[t]he
initiative will explore how to harness the power of blockchain and
cryptocurrencies to democratize access to public finance and
improve social outcomes."
Read the full report on our sister site, the
FinTech Update.
This article is presented for informational purposes only
and is not intended to constitute legal advice.
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