Austin’s Mayor Plans To Fully Embrace Cryptocurrency Payments And Web3 Technology

Steve Adler – the mayor of Austin (Texas’ state capital) has completely accepted a couple of the exclusive endeavors to be brought about by crypto payments and blockchain technology. The initial of them targets at guaranteeing that the fourth-biggest city of Texas advocates for blockchain technologies’ advantages, as well as their inclusion, accessibility, diversity, and equity.
The mayor ordered the manager of the city to discover the use cases of blockchain and Web3 in up to 20 areas including identity verification, fundraising, media, art insurance, management of supply chain, as well as smart contracts.
It has been ordered to the City Manager to guarantee that a suitable environment is being constructed by the City across the city government as well as the community by and large that favors the creation as well as the advancement of latest technologies, such as restriction-less blockchain and the rest of the technologies, applications, and protocols dealing with Web3.
The second endeavor of the mayor instructs the city manager to organize fact-finding research regarding the possibilities for the city to adopt BTC (Bitcoin) as well as the policies related to cryptocurrency. By taking the respective endeavors, it seems that the mayor intends to explore methods to enable Austin citizens to recompense the bills thereof legally with cryptocurrency.
Within this endeavor, the adoption of cryptocurrencies like Bitcoin to pay for penalties, fees, and municipal taxes as the earliest move of policies would be examined by the city manager. The achievement of the duo of endeavors will depend on the influence level of the latest applications over the regular lives of the citizens across Austin. The polling of the proposals will take place on 24th March by the council of the city.
The City Council of Austin has been contemplating the technological integrations of blockchain since nearly 2020 when the formation of a proposal took place to utilize smart contracts for the protocol of MyPass to verify the identity. Austin has joined Colorado, New York City, and Miami to swiftly broaden the exploration endeavors and suggested the policies’ implementation regarding crypto.
New York and Miami have in advance initiated their city-wide digital token-based projects via City Coin over the blockchain named Stacks layer-1, whereas the program of Austin is even now under development. Interest has been shown by Philadelphia in becoming a part of the program of City Coins, while Jared Polis – the Governor of Colorado – stated in his interview of 15th February that the crypto will be accepted by the state for the payment of things like state tax.
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