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The city in California wants to create its own crypto currency for freedom from the state budget

The authorities of the California-based city of Berkeley are seriously considering the introduction of their own crypto currency and the conduct of the ICO. The leadership had to go to such a step because of fears that the US government would reduce the financing of the city.

Through ICO, municipal bonds are planned to be sold. At the same time, this will simplify the acquisition of tokens for people who already have a crypto currency. A hypothetical possibility of interweaving tokens in the local economy is also considered.

City councilman Ben Bartlett notes that the main goal of the city’s ICO is freedom from the White House, which determines how much money will be allocated to a particular city. The US president has already hinted at cutting subsidies for some cities, and Berkeley was mentioned among them.

If officials implement their plan, Berkeley will be the first US city to host the ICO.

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