• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Lafayette, Louisiana’s Mayor-President Reveals Plans to Create a Municipal Digital Currency and Accompanying ICO

newsbtc by newsbtc
3 years ago
in Uncategorized
Reading Time: 2min read
Lafayette, Louisiana’s Mayor-President Reveals Plans to Create a Municipal Digital Currency and Accompanying ICO
Advertisement
Listen to Article

Joel Robideaux, Mayor-President of Lafayette, Louisiana, announced yesterday that the city-parish government is considering creating its own digital currency and holding an accompanying initial coin offering (ICO). Doing so would position Lafayette to follow the lead of Berkeley, California, which earlier this year revealed plans to create a municipal bond-backed digital coin.

Lafayette’s Digital Currency

The digital currency proposal was the biggest news to come out of Robideaux’s annual address at the Heymann Center, where he described Lafayette as a “technological hub” — and one that needs to take advantage of this fact to help diversify the struggling local economy and improve government services. 

The Mayor-President hopes that cryptocurrency, which uses encryption techniques, runs on a distributed ledger (blockchain), and operates independently of a central bank, could be a new way of financing public works.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Robideaux, though, was vague, in detailing why Lafayette should consider a cryptocurrency specifically, other than the potential for it to help “develop solutions targeting government inefficiencies, and, more importantly, alternatives for financing public infrastructure.” 

Robideaux didn’t elaborate in his speech how, exactly, his proposal for a municipal cryptocurrency might work, or what might motivate investors to sink money into Lafayette’s coin.

“It’s not just a bunch of global libertarians that want unregulated, untraceable and secure digital currency transactions,” Robideaux said, referring to concerns that cryptocurrency can be used for money laundering or other nefarious purposes. “It’s the recognition of global stakeholders that the world of banking, finance and payment systems is forever changed, that the world of healthcare, government and possibly every other industry is about to be disrupted.”

ICO

Robideaux said he wants to use the proceeds from an ICO to “build a living lab of blockchain researchers and developers.” Though he did not explain what such a lab might consist of, how much it would cost, or where it might be located.

In keeping with his earlier comments about Lafayette being a technological hub, Robideaux asked residents to consider what concepts such as augmented reality, artificial intelligence, and machine learning systems could mean for local government.

These things, Robideaux said, could translate to solutions for better stormwater management, traffic lights that adjust in real time, and improved government transparency.

Berkeley, California

Berkeley, which has had more time to flesh out its proposal, is backing its currency with municipal bonds. The city plans to sell “crypto enabled microbonds” to raise money for affordable housing and other initiatives to help the homeless, according to Forbes.

Considering that cryptocurrencies are known for large price fluctuations, officials hope that this use of bonds will discourage the speculation that often leads to sudden spikes and dips.

The city’s plans were developed in attempts to establish more financial independence from the Trump administration.

Image Courtesy of Shutterstock
Tags: berkeleycaliforniacryptocurrencydigital currencyICOJoel RobideauxLafayetteLouisianaMayor-Presidentpublic works
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

33 mins ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

1 hour ago
Metaverse: The Bridge Over NFT To Integration

Metaverse: The Bridge Over NFT To Integration

4 hours ago
Ripple (XRP)

Charted: Ripple (XRP) Signaling Bullish Breakout, Why It Could Retest $0.35

7 hours ago
Ethereum

TA: Ethereum Steadies Above $1,280, Why ETH Could Restart Its Rally

9 hours ago
Bitcoin

TA: Bitcoin Struggles Below $36K, Why BTC Could Extend Losses

11 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.