Berkeley, California, a center of the counter-cultural movement in the 1960s and 1970s , plans to launch an initial offer of coins The report of Business Insider was published Wednesday, February 7.

Ben Bartlett, a Berkeley City Council member, created a task force on ICO's launch with Berkeley Mayor Jesse Arreguín, the UC Berkeley Blockchain Lab, and the Fintech Neighborly startup. He sees a crypto turn as a way for the city of Berkeley to resist the current presidential administration, says Business Insider:

"Berkeley is the center of resistance, and for the resistance to work, he must have a coin. "

Berkeley is a shrine city, which means that he does not cooperate with the federal government to enforce the law on the # 39; immigration. The Trump administration has recently stepped up the fight against the existence of sanctuary cities as part of their immigration reform.

Last year, Trump had also threatened to withdraw federal funds from UC Berkeley, a university located in the city, after student protests led to the cancellation of the speech planned by conservative Milo Yiannopoulos:

If UC Berkeley does not allow freedom of expression and practice violence on innocent people with a different point of view – NO FEDERAL FUNDS – Donald J. Trump (@realDonaldTrump) February 2, 2017

The ICO could also be a way for the city to help the growing homeless population, no matter if federal funding is cut. Bartlett said:

"We have an explosion of jobs and a very tight housing tightening, you think we would gather experts and find a way to finance [affordable housing]]

The tokens would be backed by municipal bonds, which governments normally issue when they need to raise funds, but in this case, these securities would be digital assets. that buyers could potentially spend in stores participating in crypto in the city or even for apartment rentals that would accept the token.

Kiran Jain, COO and co-founder of Neighbourly, calls their ICO a "initial community offering", because,

"Unlike most ICOs that deliver coins for future value or service, these coins will represent a" [194590] 04]

UC Berkeley Has Already Proposed Innovative Uses of Crypto Blockchain Technology In August 2017, a doctoral student at the university published research on the possibility of a Blockchain analysis. to identify the sex traffic sounds through Bitcoin payments for online adult advertising.