Berkeley Considers Initial Coin Offering to Fund City Projects

This 2 articles about The city Berkeley of California wants to tokenize a municipal bond that can be sold to investors as a way to generate funds for projects like affordable housing.

Article 1

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Berkeley, California, one of the centers of the counterculture movement in the 1960s and 70s, is considering launching an Initial Coin Offering (ICO) to fund affordable housing after fears that President Donald Trump will cut their federal funding, Business Insider reports Wednesday, Feb. 7.
Ben Bartlett, a member of the Berkeley City Council, created a group working on the ICO launch with Berkeley mayor Jesse Arreguín, the UC Berkeley Blockchain Lab, and fintech startup Neighborly. He sees a turn to crypto as a way for the city of Berkeley to resist the current presidential administration, telling Business Insider:!

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https://thebitcoinnews.com/berkeley-considers-launching-ico-to-fund-affordable-housing-fears-cuts-under-trump/

Article 2

The city of Berkeley, California, is considering an unconventional fundraising scheme: an initial coin offering.
That might sound silly and ill-advised. ICOs and cryptocurrencies have garnered a reputation in recent months for scamming investors via hype, false promises, and downright weird gimmicks.

But city leaders say the technology behind the ongoing cryptocurrency craze may help Berkeley house the homeless and fund other worthy public projects. "We have to embrace the spirit of innovation if we are going to turn a corner on all these pressing problems like the water shortage, the housing shortage," Berkeley city council member Ben Bartlett told PCMag.

To read the full article

https://www.pcmag.com/news/359107/berkeley-considers-initial-coin-offering-to-fund-city-projec