London Mayoral Candidate Proposes £100 Token Airdrop to Residents to Promote Crypto Adoption

London mayoral candidate Brian Rose has unveiled an ambitious plan to introduce a new cryptocurrency token called “LONDON” and distribute £100 worth of it to every resident of the city. The initiative, funded by a tax on big banks’ profits, aims to promote crypto adoption, financial education, and position London as a leader in digital assets.

Rose, known for his advocacy of blockchain technology and the founder of London Real, sees the LONDON token as a solution to address public concerns about the financial sector’s lack of accountability following the 2008 crisis. His proposal involves creating a £1 billion liquidity pool for the token through a one-off 1% tax on the profits of London’s major financial institutions, referred to as the “TradFi tax.”

“The LONDON coin will give Londoners a real relationship with their money,” said Rose. “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.”

The LONDON token is envisioned to be widely accepted across London’s transport network and could be used for various expenses, including council bills and parking charges. This distribution of funds is expected to provide a significant boost to the city’s economy.

Rose’s proposal aims to position London as the world’s first “crypto-first city” and create opportunities for residents to engage with cryptocurrency in their daily lives. If successful, this initiative could pave the way for broader adoption of digital assets in urban centers around the globe.

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