Rhode Island lawmakers introduce 'green coin' in housing bill - Aliens: AI Crypto News & Markets Updates
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Rhode Island lawmakers introduce 'green coin' in housing bill

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The Block

Mon, Apr 18, 2022

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A Rhode Island green housing bill introduced last week proposes a “green coin” to be issued as an incentive for carbon emission reduction.

The proposed crypto token is part of a larger plan to fund new housing units in a sustainable way.

Lawmakers in Rhode Island are looking at crypto tokens as part of a comprehensive green housing bill that would tackle both the climate crisis and housing shortage in the state.

Introduced last week, the bill would create an incentive for lower carbon emissions with a “green coin” issued by the state.

“We have about a shortage of 25,000 units,” said Representative Carlos Tobon, who introduced the bill, co-sponsored by nine other representatives.

“That will essentially decentralize the property’s utilities, like the blockchain and crypto have done to finance,” he said.

One day, my kids won't even know that people were incentivized to do this.” While the proposed “green coins” would draw some similarities to green energy incentives commonly provided by governments, Tobon's vision goes beyond that.

And then the more outlets that we create for the use of it then the value of the coin is gonna start going up.” While the concept of this “green coin” system is still at a very early stage, Tobon said possible real-world applications could include paying for public transportation and for charging your electric car with these tokens.

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