Cryptocurrency has been the subject of much debate in the United States, as many ponder both the ethical ambiguity and practical usage of the rising industry. It is easy to see why, as numerous individuals who invested in crypto nearly a decade ago are extremely well off now, and it is this fear of missing out (FOMO) that has resulted in Americans reconsidering their participation in cryptocurrency space.
A perfect example of this was when Miami’s mayor, Francis Suarez, had made it known that he wants his city to become the crypto capital of not just the United States but the whole world, acknowledging both the popularity and benefits that such a feat can bring for the country. Following this example, mayor Scott Conger of Jackson wants to bring cryptocurrency to his own city, too, as plans to make Jackson the crypto hub of Tennessee are currently underway.
Conger will hence be forming a blockchain task force for the purpose of exploring possible options regarding the adoption of the asset class.
‘We want to encourage people to use cryptocurrency and get experts on board,’ says Conger
Upon elaboration, Conger explained that the plans are quite simple. Essentially, his administration wants people to use cryptocurrency and get increasingly involved in it. To this end, there is also a desire to bring blockchain and crypto experts on board in order to discuss how to implement cryptocurrency within the city in the most cost-effective and efficient way.
Dennis Powers, a state representative for Tennessee, had called for the in-depth study and analysis of blockchain technology via a bill in 2020. This was to aid in the understanding of blockchain technology and how it can be used alongside industries such as banking, lending, and payment systems.
Miami helping to push crypto to the forefront
As aforementioned, Conger is following Miami’s example and is thus ‘taking pointers’ from mayor Suarez. Investors are hopeful that the combined efforts of both parties involved can usher in a new era for cryptocurrency acceptance and involvement on a long-term basis. Furthermore, mayor Suarez also has plans to offset China’s dominance, so this could be another reason why the U.S could be moving in a crypto-positive direction.
Although Jackson is only the 8th biggest city in all of Tennessee, its willingness to adopt cryptocurrency may very well encourage others in the state to do the same in the near future. In fact, a popular hotel in Nashville by the name of Bobby Hotel had recently implemented cryptocurrency payments for the first time.