Berkeley, California to explore the launch of ICO funding for affordable housing and support services for the city’s growing homeless population.
The city of Berkeley could be the first in the U.S. to hold an ICO to fund its operations and reduce reliance on federal funding. The city is contemplating on selling tokens backed by municipal bonds, a type of security issued by the local government.
The tokens can then be used to pay for goods and services to providers hosted on Berkeley’s cryptocurrency ecosystem. Businesses can, in turn, accept payment in the city’s cryptocurrency or token.
Read more here: Berkeley City Council Plans to Launch ICO