{"id":437488,"date":"2022-04-26T07:46:00","date_gmt":"2022-04-26T04:46:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/citycoins-expanding-services-via-11-new-incubated-projects\/"},"modified":"2022-04-26T07:46:00","modified_gmt":"2022-04-26T04:46:00","slug":"citycoins-expanding-services-via-11-new-incubated-projects","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/citycoins-expanding-services-via-11-new-incubated-projects\/","title":{"rendered":"# CityCoins expanding services via 11 new incubated projects"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a367261b2122\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a367261b2122\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/citycoins-expanding-services-via-11-new-incubated-projects\/#%E2%80%9D_CityCoins_expanding_services_via_11_new_incubated_projects_%E2%80%9C\" >&#8221; CityCoins expanding services via 11 new incubated projects  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_CityCoins_expanding_services_via_11_new_incubated_projects_%E2%80%9C\"><\/span>&#8221; CityCoins expanding services via 11 new incubated projects  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMmI3Mjg4MDktMmM0Yi00NDUzLTg2ODYtNWE3NjNhOTRjYjE0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The Stacks Ventures project incubator has accepted 11 projects to help make CityCoins more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ealing to global mayors who want to utilize a digital asset to receive rewards and bolster their economies. <\/p>\n<p>Stacks Ventures is a $4 million incubator for projects on the Stacks (STX) Bitcoin layer-2 smart contract solution. CityCoins is a project that enables partnered city governments to launch  their own token on Stacks, with Miami City And New York City being the  first two to sign on with MiamiCoin and NYCCoin.<\/p>\n<p>As part of the partnerships, the local governments earn CityCoin rewards and stake the asset to receive additional rewards in Bitcoin (BTC).<\/p>\n<p>In its second <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/stxac.notion.site\/Meet-Our-Startups-Cohort-2-79763029aee24cb893d21ff348ab32ef\">cohort<\/a> of 24 projects to be incubated, Stacks Ventures will incubate 11 that add wireless networking, Web3, gaming, nonfungible token (NFT), decentralized autonomous organizations (DAO), education, and decentralized finance (DeFi) capabilities to CityCoins.<\/p>\n<p>Along with the added capabilities, Stacks Ventures partner Trevor Owens told Cointelegraph that generating Bitcoin returns could \u201creplace a city\u2019s tax base.\u201d In essence, he says cities could potentially earn enough yield to cover all costs that would otherwise be paid for with taxes.<\/p>\n<p>Cities that use CityCoins are rewarded with 30% of the fees paid in STX from miners of the coins. Mayors can sell their STX rewards straight away for USD or stack the tokens to earn Bitcoin yield. Stacking on the Stacks network is similar to staking tokens on Ethereum.<\/p>\n<p>Miami\u2019s Mayor Francis Suarez said last November that his city would use its rewards to generate BTC yield, which will be distributed to residents of his city.<\/p>\n<p>Owens feels that adding NFTs, DeFi, and Web3 to CityCoins creates the most opportunity for prospective cities. He said \u201cWeb3 is all about ownership, NFTs could be used in ownership of all nonfungible assets.\u201d<\/p>\n<blockquote><p>\u201cMayors can see this is within striking distance. They can add services and apps through CityCoins that make [their] residents happier and healthier.\u201d<\/p><\/blockquote>\n<p>CityCoins founder Patrick Stanley feels that the new startups working on CityCoins will help it carry its mission to \u201cincrease the health, wealth, and happiness of cities and citizens wherever it\u2019s activated.\u201d However, he would ultimately like to have a stablecoin on the project. <\/p>\n<p>He told Cointelegraph today that \u201cpeople will always converge towards a stable asset because the cognitive overhead on volatile assets is way too high.\u201d As a result, volatile assets like Bitcoin (BTC) will likely not become a currency.<\/p>\n<p>As CityCoins evolves to serve more cities and more people, Stanley believes the project could help cities fight inflation through stablecoins, which he feels hurts the poor the most. He said<\/p>\n<blockquote><p>\u201cCities may now have to protect their citizens against inflation. Wouldn\u2019t it be great if they could do that through a stablecoin that earns Bitcoin yield?\u201d<\/p><\/blockquote>\n<p>The current inflation rate in the U.S. is at its highest level since 1981 at a crushing 8.5% annually according to economy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.usinflationcalculator.com\/inflation\/current-inflation-rates\/\">tracker<\/a> US Inflation Calculator. <\/p>\n<p>Stanley\u2019s zeal for stablecoins as a tool for driving crypto adoption echoes that of VegaX\u2019s Sang Lee, who believes stablecoins will be essential in expanding cryptocurrency into capital markets.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Quantum computing to run economic models on crypto adoption<\/em><\/strong><\/p>\n<p>Regardless of how it happens, Stanley believes that sooner or later, everyone will hold crypto as familiarity and accessibility increase. Among the new startups joining Stacks Ventures is one focused on education which could potentially aid in teaching the public about Bitcoin.<\/p>\n<p>Since its launch last summer, Miami and New York City have begun using CityCoins to generate revenue for their residents. Philadelphia\u2019s city government has expressed interest in partnering with CityCoins, and Austin appears poised to join Miami and New York City. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/citycoins-expanding-services-via-11-new-incubated-projects\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; CityCoins expanding services via 11 new incubated projects &#8220; The Stacks Ventures project incubator has accepted 11 projects to help make CityCoins more appealing to global mayors who want to utilize a digital asset to receive rewards and bolster their economies. Stacks Ventures is a $4 million incubator for projects on the Stacks (STX)&#8230;<\/p>\n","protected":false},"author":1,"featured_media":437489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMmI3Mjg4MDktMmM0Yi00NDUzLTg2ODYtNWE3NjNhOTRjYjE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,89094,74355,70551,70954],"class_list":["post-437488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-incubator","tag-adoption","tag-inflation","tag-miami"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=437488"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/437489"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=437488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=437488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=437488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}