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Mayor of Texas’s fourth largest city Austin exploring policies to accept crypto payment

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Indrani bose Follow

INDIA

Mar, 14 2022

Mar, 14 2022

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Steve Adler who is Mayor of Austin, Texas, and Council Member Mackenzie Kelly led the Austin City Council to look at a couple of resolutions to conduct a “fact-finding study” to develop guidelines that would permit Texas’s fourth-largest city Austin to accept Bitcoin and other cryptocurrencies as a payment method for municipal fees, costs, and charges at its March 24 conference. The research and study will also include blockchain technology-related policies.

Adler and Kelly were accompanied by people in the technology industry at a news meeting held recently where they highlighted Austin’s efforts to contend within the rising arena that is electronic. Mayor Steve Adler of Austin, Texas, proposes two new initiatives.

The first effort is designed to make sure that Austin advertises and encourages some great benefits of blockchain technologies and “promotes equity, diversity, ease of access, and addition” in the ecosystem that is technical. May Adler directed the town manager to explore the way the city can use Web3 and blockchain in 20 fields from smart agreements, offer chain administration, and insurance coverage to arts, media, fundraising, and identity confirmation.  

Mayor Adler’s initiative that is second asked the town manager to conduct a complete fact-finding comprehensive study on how the city of Austin could adopt Bitcoin (BTC) and cryptocurrency-related policies. Through these attempts, Mayor Adler generally seems to get a hold of methods for Austin residents to cover their bills legitimately with crypto.

The study will also be extended to many other cryptocurrency and blockchain policies being tech-related. These efforts from Adler might find means for Austin residents to pay for their particular expenses with cryptocurrencies, relating to the crypto whale platform that is watching. Adler’s proposal would press the creation of blockchain technologies that might be applied to a wide array of city services and functions payment that is regarding, smart agreements, fundraising, and arts and music. The success of the two initiatives depends on the degree of result applications which can be new from each day life of Austin residents. The proposal is going to be voted on by the populous city’s council on March 24.

“We want to be an area of the metropolitan areas that are thinking huge and bold and talent that is attracting,” Adler said.

Since 2020, Austin’s City Council features been a blockchain that is deciding on integrations when each time a proposal ended up being designed to use wise agreements when it comes to MyPass identity verification protocol.

Similar resolution applied in other places:

The resolution points to locations such as for instance Miami and New York, which have researched using electronic money in the same way along with repayment of employee wages. Miami and New York have established their own money that is city-wide through City Coin regarding the Stacks layer-1 blockchain. Philadelphia has expressed fascination with joining the City Coins system, while Colorado’s Governor Jared Polis stated within a February, 15 interview that their state will take crypto for “state tax-related purposes.” He later expects to accept crypto for a wider array of local government solutions. 


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Indrani bose

CBW - External Analyst

INDIA

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