Ethereum The city envisions funding municipal projects via a tokenized currency.
When President Trump threatened to remove funding for sanctuary cities, it prompted a radical response from Berkeley.
The city council unanimously voted to explore blockchain technology to do an “initial community offering” instead of doing a conventional municipal bond offering.
The city envisions funding municipal projects via a tokenized currency. That means it could become the first local government to bypass the dollar and federal funding.
It’ll need a blockchain ledger platform and smart contracts to make it happen. And Ethereum will be a top contender.
Even if states don’t use Ethereum, the upside is enormous.
The Ethereum blockchain is the foundation of the decentralized internet—known as Web 3.0. Consider Ethereum’s popularity… Over 500 projects have launched on the network already. In fact, Ethereum has become the go-to platform for initial coin offerings (ICOs).
It’s estimated over 75% of ICOs have been conducted on the Ethereum platform. And the number of decentralized applications (dApps) running on the platform continues to grow, nearing 2,000 today.
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