Mayoral candidate Brian Rose has unveiled an ambitious plan to distribute £100 worth of a new crypto token to every resident of London. Under the proposed scheme, dubbed the LONDON token, Rose aims to foster financial inclusion and education while accelerating the city’s adoption of cryptocurrencies.
LONDON Token Funded by Financial Institutions
Rose’s plan involves creating a £1 billion liquidity pool for the LONDON token through a one-off tax on profits generated by London’s financial institutions. This innovative approach seeks to redistribute wealth and empower Londoners with access to digital assets.
The LONDON token is envisioned to be widely accepted across London’s transport network and usable for various expenses such as council bills and parking charges. By integrating the new cryptocurrency into everyday transactions, Rose aims to revolutionize the city’s financial ecosystem.
Tradfi Tax to Drive Adoption
Rose’s campaign team proposes a 1% Tradfi tax on profits from London’s financial institutions to fund the LONDON token. This tax would catalyze accelerating the city’s adoption and growth in the cryptocurrency sphere.
Brian Rose envisions the LONDON token as a tool for empowering Londoners with financial autonomy. He emphasizes the importance of financial education and aims to provide residents with the resources to manage their digital assets effectively.
Financial Education Initiative
If elected, Rose plans to make the LONDON token available through popular exchanges and establish a comprehensive cryptocurrency education platform. This initiative aims to equip Londoners with the knowledge and skills to navigate the blockchain economy confidently.
Rose highlights the critical need for financial education, emphasizing its impact on various aspects of life. He underscores the inadequacy of current educational systems in addressing financial literacy and sees the LONDON token as a solution to bridge this gap.
With inherent utility and a substantial liquidity pool, the LONDON token has the potential to democratize access to financial resources and promote economic empowerment across Greater London. Brian Rose’s proposal signals a bold step towards fostering financial inclusion and literacy in the city.
