ChainCatcher reported that according to The Block, the London mayoral candidate plans to provide each resident with a cryptocurrency worth 100 pounds, called LONDON tokens.

It is reported that the plan will create a liquidity pool of 1 billion pounds through a one-time tax on the profits of London financial institutions. The plan is to allow the London transportation network to accept this new cryptocurrency and use it to pay municipal bills, parking fees and other fees.

Candidate Brian Rose said that this will provide London citizens with a real relationship with money, and plans to help citizens learn how to manage digital wallets, invest in tokens and participate in the blockchain economy through a cryptocurrency financial education platform.