In a bold move to cement New York City’s status as a global fintech leader, Mayor Eric Adams has unveiled the formation of a Digital Assets Advisory Council. Announced during the inaugural NYC Crypto Summit at Gracie Mansion, this initiative aims to attract investment and create jobs in the burgeoning digital assets sector.
“We want to use technology of tomorrow to better serve New Yorkers today,” Adams declared, emphasizing the city’s commitment to integrating cutting-edge technology into public services. The council, comprising industry experts, will provide strategic guidance on adopting digital assets and blockchain technology across various city functions.
One of the council’s primary objectives is to explore the application of blockchain in managing vital records. By digitizing birth and death certificates, the city aims to enhance privacy and accessibility for residents and their families. This move reflects a broader effort to modernize city services and ensure secure, efficient access to important documents.
The summit brought together a diverse group of stakeholders, including representatives from family offices and unicorn startups, fostering a collaborative environment to discuss the future of digital assets in New York City. Participants like Andrew Durgee, co-CEO of Republic, highlighted the city’s potential as a hub for returning talent and innovation in the fintech space.
Mayor Adams, known for his early adoption of cryptocurrency, reiterated his vision of making New York the “crypto capital of the globe.” His administration is not merely chasing trends but is focused on the long-term value these technologies can bring to the city’s economy and its residents.
As the city prepares to announce the council’s chair and key policy recommendations in the coming weeks, this initiative marks a significant step toward integrating digital assets into the fabric of New York City’s governance and public services.
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