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How Miami is Successfully Adopting Blockchain

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Miami blockchain

Innovation is the prime component in the success of the American story. The economic growth in the country is not merely based on engine oils and automobiles; it mainly includes operating systems and various platforms. America has always remained updated with technological advancements. Cities across the country are effectively utilizing the latest innovation in technology; blockchain technology.

Miami is leading in terms of adopting this new approach.

Miami and Blockchain

Florida was the first state to accept bitcoin technology. Due to the hype over cryptocurrency in the previous year, the world almost overlooked Florida. Additionally, the first Bitcoin transaction took place in Jacksonville. This was to deliver pizzas to Laszlo Hanyecz from the local Papa John’s in the city.

Furthermore, this Bitcoin transaction which was worth 10,000 BTC would be for $65m as per today’s rate.  Therefore, we celebrate 22nd May as the Annual Bitcoin Pizza Day.

Vitalik Buterin, the then 19-year old boy presented his innovative Ethereum project at the first North American Bitcoin Conference in Miami Beach. The would-be host Charlie Shrem was arrested on the grounds of money laundering on the same day.

Since then, Miami is considered a noteworthy destination for blockchain technology events and networking platforms.

This year’s North American Bitcoin marked around 30 startups raising million dollar funds for their ICOs.

The first ever Blockchain Shift Conference will take place later this month. This will be in partnership with tech giants like IBM, Tesla, KPMG, Bloomberg and many others. Moreover, the conference is to host a myriad of recreational activities like yacht excursions.

Furthermore, the blockchain supports organizations and other institutions too. Bitstop was the first Bitcoin ATM provider in America in 2013. The founders of Bitstop expressed their confidence in building a billion-dollar business just in Florida.

Additionally, George Levy started the Blockchain Institute of Technology in 2016 in Miami. The local dynamic culture of Miami encourages any innovation by entrepreneurs. Latin America has the fastest growing cryptocurrency and blockchain markets.

Looking forward

A pool of users in Latin America is willingly adopting techniques that help to avoid the bureaucracy of their local government. Miami is suitable to become the blockchain hub of the entire area.

Florida is actively helping Miami to work on its crypto innovations. Additionally, Florida created a designation of Crypto Chief for regulating the industry. It includes the introduction of a bill that helps to recognize the blockchain signatures and smart contracts.

Additionally, apart from the flexible laws, the city of Miami is quite beautiful to live in. The serene beaches and lively clubs are the main attractions and not many people would say no to living here.

No wonder a city is a great place for startups and it is excellent at retaining talent.

 

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