Lafayette Parish to Create Own Cryptocurrency and ICO

Lafayette Parish, Louisiana Considers Creating Municipal Cryptocurrency and ICO

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  • Lafayette Parish, a Louisiana-based organization, is considering creating own digital currency and ICO
  • The parish stated that this would help its budget.

United States: Report from The Acadiana Advocate, a local news outfit, on Thursday 12th April revealed that Joel Robideaux, the Mayor-President of Lafayette Parish, a Louisiana-based organization, has suggested to the parish government to launch its own digital currency and considers introduction an ICO.

Joel, during his annual speech at the Heymann Center, introduced Lafayette parish as a technological hub, which can profit from creating its own cryptocurrency, a way of motivating investors to steer funds into the parish.

Joel added that aside from helping in diversifying the local economy and enhancing government services, launching own cryptocurrency would evidently help the parish’s budget, of which the general fund is “basically wiped out.” According to Joel, launching this cryptocurrency could possibly create a new way to finance public works:

“It’s not just a bunch of global libertarians that want unregulated, untraceable and secure digital currency transactions. It’s the recognition of global stakeholders that the world of banking, finance and payment systems is forever changed, that the world of healthcare, government and possibly every other industry is about to be disrupted.”

According to The Acadiana Advocate, profits from the Initial Coin Offering would, “build a living lab of Blockchain researchers and developers.” However, Joel did not make clarifications on exactly how the proposed digital currency would attract investors and what such a lab might consist of. Joel stated that the idea is simply to

“develop solutions targeting government inefficiencies, and, more importantly, alternatives for financing public infrastructure.”

Last February, after President Trump threatened to stop Berkeley’s federal funding, the municipality deliberated on creating an ICO to generate money for affordable housing and other initiatives.

What do you think about Lafayette parish’s plan to launch own digital currency and ICO? Tell us in the comment box below.

 

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