The city of Berkeley is exploring the sale of digital tokens—backed by municipal bonds—as a fundraising mechanism for affordable housing and other local priorities.
To fund affordable housing and homeless services, Berkeley, California is considering holding an initial coin offering (ICO), Melia Robinson reports in Business Insider—selling digital tokens that could be used as currency at local businesses.
"Buyers might spend these tokens at shops and restaurants or even pay rent at apartment rentals that participate in Berkeley's cryptocurrency ecosystem … Someday, homeless people might receive tokens to buy goods and services from local businesses that accept the currency, according to city leaders."
It's a tech-savvy twist on traditional fundraising: "The city of Berkeley is effectively leveraging the blockchain — the technology at the heart of bitcoin and other cryptocurrencies — to sell municipal bonds," Robinson explains. If adopted, the scheme would make Berkeley “the first city in the US to hold an initial coin offering."
Officials hope token sales will supplement a local budget due to shrink under the Trump administration, especially given specific threats to sanctuary cities. "For the resistance to work, it must have a coin," one councilmember told the paper.
FULL STORY: A major California city could become the first to create its own bitcoin-inspired currency
Austin Proposes Using Blockchain Technology to Help Its Homeless
The city wants to give its 7,000 citizens without permanent homes "[u]nique digital identifiers" to help them get reliable access to services.
New Book Highlights Human Side of Homelessness Crisis
A San Francisco reporter’s empathetic portrait of unhoused Bay Area residents reminds readers why supportive housing is worth fighting for.
California Supreme Court Rules in Favor of People's Park Housing
The decision paves the way for a controversial student housing development.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
San Antonio and Austin are Fusing Into one Massive Megaregion
The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.
Since Zion's Shuttles Went Electric “The Smog is Gone”
Visitors to Zion National Park can enjoy the canyon via the nation’s first fully electric park shuttle system.
Trump Distributing DOT Safety Funds at 1/10 Rate of Biden
Funds for Safe Streets and other transportation safety and equity programs are being held up by administrative reviews and conflicts with the Trump administration’s priorities.
German Cities Subsidize Taxis for Women Amid Wave of Violence
Free or low-cost taxi rides can help women navigate cities more safely, but critics say the programs don't address the root causes of violence against women.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
planning NEXT
Appalachian Highlands Housing Partners
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie