Verified

The Initial Coin Offering, commonly called the ICO, solves many of the issues a city faces every time they need to fund a civic project.

When a city needs to fund a local project, the city generally has limited choices for funding. If the city does not have existing funds for the project or the legal right to transfer extra funds from another project to the new project, the city generally must perform a referendum to issue a municipal bond. The results of the referendum have, in its balance, the ability for the city to obtain funding from its citizens necessary to maintain a sound and future-driven direction. However, the referendum will sometimes fail, leaving the city with few remaining alternatives to complete these well needed projects.

Author of Publication (Name)
Denis ONeil
Authoring Organization
Government Blockchain Association
Publication Date
June 11, 2018