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California city of Berkeley for the first time in the US will hold ICO



California city of Berkeley for the first time in the US will hold ICO



08.Feb.18 11:02 PM
By Mark Gainer
Photo Toinnov.com

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California city of Berkeley for the first time in the US will hold ICO
The authorities of the city of Berkeley in the State of California are planning in May this year to hold an ICO to reduce dependence on federal funding and on their own to stop the impending housing crisis, writes the online edition of Inc.Russia. Thus, Berkeley will be the first city in the US to host the initial placement of tokens.

For the ICO, a committee was set up with the participation of specialists in the blockade. It is planned that the Berkeley tokens will be provided with municipal bonds. Owners will be able to pay their bills in shops and restaurants, as well as pay for the apartment.

The idea to hold an ICO arose from the Berkeley authorities after the US adopted amendments to the tax code, because of which the construction of affordable housing becomes unprofitable for large businesses. In Berkeley, because of the rapid growth in the number of jobs in recent years, affordable housing is not enough, and the number of homeless people has already exceeded one thousand people. Through the ICO, the municipality wants to raise money to finance the construction of housing and help the homeless.



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