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Wednesday, January 19, 2022

Crypto Capital: Miami Wants To Be It

 When Blockchain.com was looking at options for a new home for its headquarters in the United States, it decided on Miami rather than New York. Peter Smith, the co-founder, and CEO of the cryptocurrency company stated that while New York is definitely a great city, the bay city was quite an easy choice for anyone involved. The warmer weather and the vibrant nightlife of the city in Florida were definitely a draw for being the crypto capital, but according to Smith- the decision was ultimately balanced on the city being aligned better with the goals of the company. 

Miami aiming at Toppling NYC’s Dominance As The Crypto Capital

According to Smith, Miami has been the gateway to Latin America. It stands in the time zone on the East Coast, and interestingly, this was the city most interested in cryptocurrency at the moment. As it has been mentioned countless times, cryptocurrencies have been considered to be the future of finance, and the capital of Florida has been angling to make itself the crypto capital of the world. 

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Needless to say, this puts it in direct contention with the status of New York as the financial hub of the country, which would then threaten the dominance NYC has on finance. Smith has given full credit to Mayor Francis Suarez, the head of Miami, for raising the profile of the city. In his first term as Mayor, Suarez placed all his bets on Bitcoin and blockchain, the technology that could oversee the development of this city as the crypto capital of the entire world. 

As it goes, Miami currently has its own cryptocurrency which is called MiamiCoin, and just the previous year, it had hosted one of the biggest digital currency conferences in the world. Suarez recently stated that cryptocurrencies could be an important part of the future of the city, and the city is angling towards being in the epicenter of it.

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