Berkeley is trying to put municipal bonds on the blockchain.
You probably have heard of Bitcoin — the volatile digital-only currency that started in 2017 worth $1,000 a coin, and is now worth between $7,000 to $20,000 a coin. There has been a lot of hype around making money on Bitcoin and around other cryptocurrencies. But inside the coin is the digital machinery that actually makes it actually work. That’s called blockchain technology.
Financial institutions have been looking into how to use that technology, and now Berkeley is looking into being one of the first city to start using it. This involves confusing tech and confusing municipal finances. So to try and untangle what Berkeley might do with blockchains, we brought in our economics reporter Jeremy Dalmas.
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