Brian Rose, running for mayor in London, proposes the creation of a “LONDON token,” a new cryptocurrency for city residents. The plan calls for creating a £1 billion liquidity pool, financed by a one-time 1% tax on London financial institutions’ profits.
According to Rose’s campaign team, the LONDON token would be widely accepted across London’s transport network and could be used to pay council bills, parking charges, and other expenses. Rose believes this intervention is crucial for accelerating London’s adoption and growth in the cryptocurrency sphere.
“The LONDON coin will give Londoners a real relationship with their money. They will be able to hold it, earn interest on it, save it, trade it, stake it, all with decentralized finance protocols directly from their phones,” Rose stated.
He emphasized the token’s potential to promote financial education among Londoners, envisioning a future where all nine million residents, regardless of their backgrounds, can understand money for the first time.
If elected, Rose plans to introduce the LONDON token to major exchanges and develop a detailed cryptocurrency education platform for Londoners. This initiative will teach them how to manage digital wallets, invest in tokens, and engage with the blockchain economy, aiming to broaden their understanding and adoption of digital assets.
