The city of Miami has been bullish on blockchain technology. In mid-January, The North American Bitcoin Conference took place in Miami. The first week of April rang in NFT Miami. This week, Bitcoin 2022 kicked off, and it will be followed by Miami Tech Week on April 18.
Francis Suarez, Miami’s mayor has been present at many of the events. He isn’t hiding his bullishness, and adoption of the technology, and he even said blockchain won’t only benefit Miami, but all cities across the world.
“I think Miami could considerably lead the world into a digital future because we’re at the intersection of five major markets in New York, Silicon Valley, South America, the Middle East, and Europe,” he said.
Suarez believes Miami could be the capital of blockchain technology. He said the city can be a major aggregator and deployer of capital, that firms in the sector could use to scale. These firms will be decentralized, but their creation and scaling will be centralized in Miami, he said. Suarez added that popular investors are pouring money to support this initiative.
For instance, the SoftBank Miami Initiative is a $100 million fund committed to supporting tech start-ups in Miami. Meanwhile, JPMorgan Chase, Aīre Ventures, the Miami Foundation, The John S., and James L. Knight announced on Monday an initiative called Tech Equity Miami where they’ll deploy $100 million to lower the entry price to technology.
Banks aren’t providing a “big yield” for their customers, he noted. And when factoring in inflation, money sitting in a bank is losing its value.
“People are going to have more democratized investment opportunities because it’s very easy to download an app and get going, even though you may be underbanked or unbanked,” Suarez said. “And then I think it’s going to make it hard for communist countries to control currencies and control people through their currencies.”