London mayoral contender Brian Rose pledges to give every Londoner £100 of capital crypto and make banks pay for it

LONDON, UNITED KINGDOM, April 11, 2024 /EINPresswire.com/ -- Every person in London will get £100 worth of a new capital crypto token under plans revealed today by Mayoral candidate Brian Rose.

The revolutionary token – working title the LONDON – would be accepted across London’s transport network, and used to pay council bills, parking charges and more.

It would be funded by a 1 per cent ‘TradFi tax’ on profits of the city’s big banks, a one-off charge that reflects public anger with how the financial sector continues to abuse its power despite being bailed out by taxpayers in the 2008 financial crash.

Speaking from Paris Blockchain Week, Rose, a passionate advocate for cryptocurrency and blockchain technology and founder of London Real, said: "London and Londoners have an unusual relationship with banks – financial institutions are central to the capital and its economy but, at the same time, the sector’s deliberate deafness when it comes to addressing criticisms of how it operates continues to anger so many of the people I talk to.

"The new crypto token would offer multiple benefits to our city – it would be an acknowledgement that the banking sector accepts it has to move with the times; it would provide a welcome injection of additional money to the capital economy; and it would signal that London plans to be the world’s first crypto-first city.

"As the world of cryptocurrency continues to evolve, it is inevitable that crypto will find more and more mainstream acceptance – at least partly because it strips banks and governments of some of their power over how we all use our finances."

Every man, woman and child in the city would be eligible for £100 of the LONDON token, which they could spend, trade or invest.

It will be available through popular exchanges, with a full crypto financial education platform also planned to help London’s citizens learn how to manage their wallets, invest their tokens and get involved in the blockchain economy.

Rose said: "This bold plan will help familiarise all Londoners with cryptocurrency, giving them not just a bit more money in their pockets but also more knowledge about how crypto is shaking up the financial world.

"The system is designed to be accessible and understandable for crypto newbies and experienced crypto traders alike. And, for once, Londoners will have literally nothing to lose by trying it out."

Rose’s plan would see a £1billion liquidity pool created via the one-off TradFi tax.

The California-born Londoner, who is now a British citizen, is standing as a candidate for London Mayor for the second time.

He added: ‘Cryptocurrency is the future and I believe the LONDON token, with its inbuilt utility and sizeable liquidity pool, is the perfect way to provide a much-needed financial education for every person in Greater London.

"Looking at crypto, blockchain and Web3 opportunities, I think this new initiative will inspire the next generation of leaders to invest in financial education, as well as provide the underpinning for London to become a centre of excellence for these revolutionary technologies.

"Watch this space – it’s time to politically turbo-charge the crypto industry."

With a manifesto promoting free speech, abolishing the controversial ULEZ zone and offering practical solutions to the violent crime epidemic, Rose’s campaign has already garnered global support, with fans from around the world making his recent #BeMoreElon free speech stunt trend on X (formerly Twitter).

A Survation poll earlier this month had Rose as the leading independent candidate for the Mayorality, demonstrating his ongoing popularity among Londoners.

Howard Bowden
London Real
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