Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
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New York Mayor Eric Adams announced the creation of a digital assets advisory council to attract fintech jobs and investment to Manhattan at the opening of the inaugural NYC Crypto Summit on Tuesday.
“My goal remains the same as it was day-one as mayor, making New York City the crypto capital of the globe,” said Adams. He added that the council’s chair and its initial policy recommendations will be named in the coming weeks.
Blockchain to Safeguard Vital Records
“This is not about chasing memes or trends,” Adams continued, “We want to use the technology of tomorrow to better serve New Yorkers today.”
Beyond high finance, both he and New York City CTO Matthew Fraser flagged blockchain’s potential to secure vital records.
“We’re also looking at the power of blockchain and how it can be used to manage sensitive information, like our vital records,” said Adams. He noted that birth certificates and death records could remain private while remaining easily accessible to families.
Fraser pointed to financial inclusion as another priority. He suggested that future pilot programs might allow residents without bank accounts to pay for city services with crypto.
“We’re not talking about innovation. We’re talking about survival,” he said, warning that the city risks falling behind without a clear strategy.
Pushing Crypto into Everyday City Services for New York
Adams, who compares himself to Star Trek’s Captain Kirk as he explores new frontiers, said he’s on the lookout for his own “Spock” and other visionaries to join the council. He repeatedly pointed to his commitment to integrating crypto and blockchain into everyday municipal operations.
After his remarks, attendees broke into facilitated tables. There, they brainstormed opportunities and obstacles. The top ideas are slated for formal endorsement from the mayor’s office.
Further, he reassured the industry that its perseverance had paid off. “You were harassed, you were demonized. You were treated as though you were the enemy,” he said, “But you withstood it. Your resiliency is admirable, and it will all pay off, because everyone is going to come around.”
Adams earned the nickname “Bitcoin Mayor” in 2022 when he converted his first three paychecks into Bitcoin and Ethereum. This gesture followed a friendly challenge from Miami’s mayor. Since then, his early embrace of digital assets has made him one of the most prominent US politicians to back crypto publicly. Consequently, it has reinforced New York’s bid to lead in the sector.
