London Aims to Be Crypto Capital With £100 Crypto Giveaway for Each Resident

London mayoral candidate Brian Rose proposes a bold plan to distribute £100 worth of a new capital crypto token, the LONDON, to every resident. The token would be accepted for various city services and funded through a 1% 'TradFi tax' on big banks' profits. Rose believes this initiative will foster crypto familiarity, inject money into the economy, and establish London as a crypto-first city. He emphasizes that the plan will be accessible to both crypto enthusiasts and newcomers, empowering Londoners to navigate the evolving financial landscape.

London Unveils Bold Plan to Become the World's First Crypto-First City

In a groundbreaking move, London mayoral candidate Brian Rose has unveiled an ambitious plan to distribute £100 worth of a new capital crypto token to every resident of the city. This revolutionary move would position London as a global trailblazer in the adoption of cryptocurrency and inject billions into the local economy.

The proposed token, tentatively named the LONDON, would be widely accepted across London's transport network, enabling seamless payments for travel, council bills, parking charges, and potentially a range of other services.

To fund this ambitious initiative, Rose proposes a one-time "TradFi tax" of 1% on the profits of London's major banks. This measure is seen as a response to public dissatisfaction with the financial sector's perceived power and lack of accountability.

Speaking at Paris Blockchain Week, Rose, a vocal advocate for cryptocurrency and blockchain technology, emphasized the transformative potential of the LONDON token.

"London and Londoners have a unique relationship with banks. While they are crucial to our economy, their unwillingness to address public concerns has created a deep sense of frustration among many residents," said Rose.

"The LONDON token would not only acknowledge the banking sector's need to evolve but also provide a significant financial boost to our city and demonstrate our commitment to becoming the world's first crypto-first city."

Rose stressed the importance of financial literacy in the evolving world of cryptocurrency. The initiative would be accompanied by a comprehensive crypto financial education platform, empowering Londoners to manage their wallets, invest their tokens, and actively participate in the blockchain economy.

"This bold plan will introduce all Londoners to cryptocurrency, not only providing them with additional financial resources but also equipping them with the knowledge to harness the transformative power of crypto," said Rose.

"We have designed the system to be accessible and understandable for everyone, from crypto novices to experienced traders. For once, Londoners have absolutely nothing to lose by embracing this opportunity."

Rose's proposal would establish a substantial £1 billion liquidity pool through the TradFi tax. The Londoner, a British citizen born in California, is running for London Mayor for the second time.

"Cryptocurrency is the future, and I believe the LONDON token, with its built-in utility and ample liquidity pool, is the ideal vehicle to provide essential financial education to every resident of Greater London," said Rose.

"By embracing crypto, blockchain, and Web3 opportunities, I am confident that this initiative will inspire the next generation of leaders to prioritize financial literacy and establish London as a global hub for these revolutionary technologies."

Rose's mayoral campaign has gained significant momentum, with his manifesto focusing on free speech, abolishing the controversial Ultra Low Emission Zone (ULEZ), and proposing practical solutions to the city's violent crime epidemic.

A recent Survation poll placed Rose as the leading independent candidate for Mayor, highlighting his growing popularity among Londoners.

The proposed distribution of the LONDON token is the latest in a series of innovative initiatives announced by Rose. It underscores his commitment to harnessing technology to empower citizens and drive economic growth.

As London embarks on this unprecedented journey into the world of cryptocurrency, it is poised to become a global beacon of innovation and a testament to the transformative power of blockchain technology.