Lafayette Parish, Louisiana Considers Development Of Municipal Cryptocurrency And ICO

Mayor-President Joel Robideaux of Lafayette parish, Louisiana proposed the parish federal government to develop its have cryptocurrency and contemplate launching an First Coin Supplying (ICO), local news The Acadiana Advocate reported April 12.

In his annual speech at the Heymann Middle, Robideaux presented Lafayette as a technological hub, which could gain from the improvement of its have electronic forex to encourage traders to steer income into the parish.

This would reportedly help the Lafayette parish funds, of which the standard fund is “basically wiped out”, in addition to diversifying the local overall economy, and boosting federal government products and services. Robideaux mentioned it could probably establish a new way of financing general public will work:

“It’s not just a bunch of world-wide libertarians that want unregulated, untraceable and safe electronic forex transactions. It is the recognition of world-wide stakeholders that the earth of banking, finance and payment systems is without end modified, that the earth of healthcare, federal government and maybe each individual other field is about to be disrupted.”

The proceeds from a cryptocurrency ICO would, “build a residing lab of Blockchain scientists and developers”, the news outlet reports. Robideaux, nevertheless, didn’t explain how exactly a local cryptocurrency might appeal to traders and what this kind of a lab might consist of. He mentioned the plan is to “develop methods targeting federal government inefficiencies, and, a lot more importantly, choices for financing general public infrastructure.”

In February, Berkeley, California thought of launching an ICO to increase income for inexpensive housing and other initiatives immediately after President Donald Trump threatened to slash the municipality’s federal funding.

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