Blockchain

The incoming administration heads into the White House with a promise to create a national crypto stockpile as public finance suffers losses, issues warnings, and buys into crypto-backed ETFs.

Finance officials for the city decided to be the first municipal issuer to use the distributed ledger technology for a $10 million deal, banking on cost savings, better liquidity and more access for retail investors to their bonds. Mayor Tom Koch, CFO Eric Mason and Strategic Asset Manager Rick Coscia say it should be the first of many deals for the industry.

"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.

The market veteran with more than 30 years of experience will lead the origination of municipal debt on the firm’s blockchain platform.

Gov. Jared Polis, who has been pushing for his state to become a center of the blockchain economy, signed a bill requiring a study of security tokens.

The popularity of cryptocurrency may drive investment by public pension funds.

Geoffrey Buswick and Todd Kanaster of S&P Global Ratings, talk with Chip Barnett about all things cryptocurrency. They look at why municipalities are getting into blockchain technology and crypto. What are the risks and rewards?

Municipal bonds are just contracts between issuers and investors, why not make them smart contracts?

Alpha Ledger Technologies, which had already done so in its home state of Washington, helped its first Oregon issuer record a municipal loan on a blockchain platform.

Gov. Steve Sisolak opted to form a joint committee to study the idea, rather than proposing legislation this session.