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Mayor Suarez at the launch of MiamiCoin says the city is focused on “differentiating our economy.”

Miami Mayor Francis Suarez on using cryptocurrency to expand the city’s economy and its potential impact on residents.

Miami Mayor Francis Suarez spoke about MiamiCoin, the city’s newest cryptocurrency initiative, during an appearance on Varney & Co. Tuesday. Florida Mayor says the city is focused on “differentiating its economy” by “creating the new wave of technological products.”

MAYOR FRANCIS SUAREZ:… The city of Miami could make millions of dollars from the popularity of MiamiCoin, because obviously Miami is now and we have talked about it many times in your program, the bitcoin capital of the world; and we’re focused on differentiating our economies by creating a new wave of tech products that inspire people to move to Miami and become part of our tech ecosystem.

AMAZON FILES REPORT TO ACCEPT BITCOIN AS PAYMENT

It’s like a bitcoin and it’s on the blockchain protocol; Every time this coin is mined, a percentage of the coin goes to the City of Miami due to programming. It’s actually 30 percent of what is mined, 70 percent actually goes to the miners. … Miami will benefit from the use of the MiamiCoin and the associated branding. And that goes straight to our general fund.

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SEE THE FULL INTERVIEW BELOW:

Miami Mayor Francis Suarez talks about the city’s cryptocurrency initiative, Lyft, which is launching self-driving cars, and Cuba’s anti-government demonstrations in the United States

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