Bitcoin, Crypto currency, Blockchain

New York bill proposes a local crypto currency called Ithacash

e37b9e676aaa3cd2891e041b665f5e3e - New York bill proposes a local crypto currency called Ithacash

According to the draft, a Maximum of $ 3 million will be created to be distributed over 10 different experimental zones, in which crypto-currencies such as Ithacash. This should lead to increased local economic activity and provide rewards on the Token to the crypto-currencies.


The bill cited a similar concept that is used in the Netherlands, where data are clear benefits for the citizens have shown. This use leads to the fact that crypto-currencies are perceived completely new. The basic benefits of paper-free, secure currency are obvious use as a vehicle for local economic growth is, however, a new idea in the United States.

To buy “… pilot programs to provide incentives for consumers, and Up to ten pilot projects can be created in regions across the country, which include the principles of the common currency or the local community dollars.”

The development of crypto-currencies in New York

New York since the adoption of the BitLicense in the year 2014 has always been at the forefront in terms of crypto-currency regulation. The state counts some of the largest crypto-industry-company to its taxpayers, among other things, Gemini, Coinbase and Bitflyer.

A difficult endeavor for many crypto-company is to connect institutional money traders with crypto-currencies. Currently, the NASDAQ is experimenting with the exchange of crypto-currencies, and has explicitly stated that they are willing to accept crypto currencies as a comprehensive legislation is in force.

Local Crypto-Currencies

It is just as important, however, that the Adoption takes place at the individual level. Ithacash to solve this Problem and at the same time local companies promote. In addition, this type of cooperation at the level of social cognition will help to ensure that crypto-currencies are no longer associated with crime and money laundering in connection.

“More and more members of the younger Generation are not only familiar with Blockchain technology, a more secure Form of information transfer, but also expect the widespread use of.”

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