The Big Idea for CityCoins
Local Communities Are Disconnected From Their Cities
Between 1950 and 2015, the world’s urban population multiplied from 750 million to 4.2 billion. By 2050, over two thirds of the global population is expected to live in an urban area, meaning city governments will make increasingly consequential decisions that directly affect more citizens.
At the same time, communities are looking for more ways to influence their cities’ growth, and the current feedback loop between city residents and local officials leaves much to be desired. With an increasing proportion of the global population residing in urban areas, the ability for communities around the world to connect with each other to collectively push for change is more important now than ever.
CityCoins Are Revolutionizing Civic Engagement
To that end, the CityCoins protocol is designed to empower communities across the world to play a more active role in how their cities are run, and offers a new way for you to support your favorite cities. And because the CityCoins protocol automatically allocates crypto funds to a participating city’s treasury wallet as new tokens are mined, the model ensures that city officials also have a vested interest in their CityCoins’ success.
When it comes to developers building new applications and services with CityCoin the possibilities are endless, and although we explore multiple use cases below these ideas are only the tip of the iceberg . Similarly, city leaders can use the crypto funds they receive through CityCoins however and whenever they see fit. We don’t believe in taking a prescriptive approach to CityCoins’ growth, and envision a future in which every city has its own coin with its own localized, community-led use cases — tied together in a globally interconnected, mutually-reinforcing CityCoins ecosystem.
While each CityCoin is city-specific, CityCoin holders can express their support or disapproval of how certain cities are operating via the markets. In other words, rather than voting with your ballot or your feet, you can now vote with conviction, since CityCoins enables capital flight at the speed of light to any city you want to support.
CityCoins Unlock New Possibilities
The real value in CityCoins lies in the fact that they are decentralized, programmable and can be applied to a wide range of use cases. For instance, CityCoins may or may not be leveraged for in each respective cities’ sole discretion:
Financial Incentives: There are many reasons for local organizations to offer various discounts and benefits tied to CityCoins. These organizations typically have a vested interest in attracting fresh talent and capital to their neighborhoods, and by adopting CityCoins they can directly contribute to their community. Some examples include:
- Discounts for CityCoins holders for sporting events and other activities.
- Rewards for high-performing students or automated lotteries to help pay for student tuitions.
- Delegating CityCoins as grants or collateralized loans to attract crypto founders and other businesses to their city.
- Community run “pothole fixer app” using geolocation, crowdfunding pothole repairs and other simple maintenance needs in more remote areas. Especially useful if the city responds too slowly to these requests normally. Payments could be made in CityCoins and locked up in the app until the job is done and confirmed by the OP.
- Creating an “autostacking” feature that automatically allocates CityCoins earnings towards buying or mining more CityCoin.
Community Governance: CityCoins can be used for capital voting, enabling token hodlers to vote on proposals. For instance:
- Users could delegate their tokens (without losing them) to help modernize their communities by funding new initiatives, such as free WiFi or new solar panel installations.
- CityCoins can be atomic swapped with other CityCoins as a means of voicing support for one city and disapproval for another. Imagine swapping $MIA with $SFO, for example.
- Communities from different cities can pool their tokens to propose and vote on regional initiatives and projects, which can then be fueled by CityCoins.
Access Controls: CityCoins can be used to grant and control access rights to certain digital/physical spaces and services. Communities can design apps that only CityCoin holders can sign in to use. They can also create new services that replace or enhance existing services offered by third-party businesses. Some examples include:
- Establishing a “Proof of HODL” login credential for certain physical and digital spaces and events.
- Creating a decentralized global network of WeWork-style coworking/living spaces that requires CityCoins to access.
- A decentralized, city-specific domain registrar that users can use as a personalized crypto wallet and app dashboard. Picture owning custom domains like ericadams.nyc or francissuarez.mia, where you can register names only through the spending of the city’s respective token.
- Integrating tipping into Uber using CityCoins, or even creating a community-run Uber application with its own transparent and inalterable reputation and dispatch system.
In other words, CityCoins gives communities a voice by allowing them to vote on new initiatives and signal their support or disapproval on how their cities are being run. At the same time, creators are also empowered to modernize their cities in a way that prioritizes its own residents by creating new applications with CityCoin, ranging from simple discounts to complex smart contract execution.
CityCoins Gives You More Than a Voice
Ordinary citizens often have a hard time making a tangible difference in their cities, and we believe every community should have the opportunity to have an impact on their city. CityCoins is a massive step in the right direction.
The goal behind CityCoins is nothing short of revolutionizing the possibilities for civic engagement. CityCoins will continue to evolve over time as cities and their citizens see fit, as they take full advantage of the limitless possibilities enabled through CityCoins’ programmability and economic functionalities.
Interested in participating in the CityCoins movement? Learn how to start mining MiamiCoin, the first CityCoin to launch, or sign up for our newsletter to receive community updates!