New York Mayor Eric Adams Forms Crypto Council to Attract Fintech Jobs

New York City Mayor Eric Adams has announced the creation of a new Crypto Advisory Council. The mayor made the announcement during a summit held at Gracie Mansion on Tuesday. He emphasized the city’s commitment to technology and economic development.

New York Mayor Eric Adams Forms Crypto Council

According to Mayor Eric Adams, the new Digital Assets Advisory Council will support New York City’s efforts to expand in the fintech sector. The mayor spoke at a summit that brought together technology leaders, investors, and government officials. The goal, he said, is to ensure the city remains a global leader in innovation while creating more jobs in the industry.

Mayor Adams stated, “We want to use technology of tomorrow to better serve New Yorkers today.” The council will include experts from across the digital assets sector.

A chairperson will be named soon, though no exact date has been given. The city plans for the crypto council to meet regularly and provide strategic input on technology adoption in public services and business environments.

Blockchain Applications in Public Records

One of the council’s tasks will be to explore how blockchain can be used in public recordkeeping. Mayor Adams mentioned that New York City is looking into putting birth and death certificates on a blockchain system. This could help families access official documents faster and more securely.

The mayor, who has earlier endorsed Bitcoin, said that such a system would reduce paperwork and make services more efficient. Though there are no immediate plans for implementation, discussions are expected to begin soon. City officials believe this could make it easier for families to deal with important records during difficult times.

The move also follows growing interest from public institutions in using blockchain to modernize data systems. Many local governments across the U.S. are considering similar steps as part of digital upgrades.

Industry and Startup Participation

The summit included both public announcements and closed-door discussions. Attendees came from family offices, tech startups, and investment firms. Richard Hecker of Traction and Scale, a logistics company involved in the event, confirmed the participation of several unicorn startups.

Andrew Durgee, co-CEO of Republic, which supports early-stage companies, said his firm continues to stay in New York despite challenges in the regulatory space.

“Now the first time in 15 years, we’re in this scenario, we have no idea what it’s going to look like,” Durgee said, referring to the changing fintech landscape.

Durgee also mentioned that more tech professionals are returning to the U.S. from abroad amid developing crypto regulation in the US. He believes they are looking for strong cities to support their businesses, and New York could be a preferred choice if it builds the right environment.

City Signals Openness to Emerging Technologies

Mayor Adams used the event to send a clear message that New York is open for business. He said the city must stay ahead in adopting technologies that can boost its economy. The council, like the crypto task force in the US, is part of this effort to make the city more attractive to innovators in the digital finance space.

Although the council’s exact structure and membership are still being finalized, its launch is expected to start conversations around future policy and investments. The city is also exploring other ways to work with private companies on digital innovation.

By forming the advisory council, New York City aims to create a more favorable environment for startups and established firms. The initiative may also encourage further growth in the local tech job market.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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