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Mayor Steve Adler of Austin, Texas, has absolutely embraced the invention of what blockchain know-how and crypto funds can convey to his metropolis by proposing two new initiatives.
The primary initiative goals to make sure that Texas’s fourth-largest metropolis promotes the advantages of blockchain applied sciences and “promotes fairness, variety, accessibility, and inclusion” within the technological ecosystem. To that finish, Could Adler directed town supervisor to discover how town can make the most of Web3 and blockchain in 20 fields from sensible contracts, provide chain administration and insurance coverage to arts, media, fundraising and id verification.
“The Metropolis Supervisor is directed to make sure the Metropolis helps to create an surroundings inside metropolis authorities and in the neighborhood usually that helps the creation and growth of recent applied sciences, together with with out limitation blockchain and different Web3 associated applied sciences, protocols, and functions.”
Mayor Adler’s second initiative orders town supervisor to conduct a “fact-finding examine” on how town may undertake Bitcoin (BTC) and cryptocurrency-related insurance policies. By way of these efforts, Mayor Adler seems to wish to discover methods for Austin residents to legally pay their payments with crypto.
Austin is worked up to assist the companies and improvements that may flip the guarantees of Web3, cryptocurrency, and blockchain know-how into actuality. Because of @MK6ATX for her decision and @RaffiSapire, @consensus2022, @JoshuaBaer, and @PrestonLJ2 for his or her management! #SXSW pic.twitter.com/HdmuGA0l2Y
— Mayor Adler | Get vaccinated! (@MayorAdler) March 11, 2022
Below this initiative, town supervisor ought to discover methods to permit “the acceptance of Bitcoin or different cryptocurrencies as cost for municipal taxes, charges, and penalties” as the primary set of insurance policies to look into.
The success of the 2 initiatives will likely be primarily based on the extent of impact new functions have on the on a regular basis lives of Austin residents. The proposals will likely be voted on by town’s council on March 24.
Austin’s Metropolis Council has been contemplating blockchain technological integrations since at the least 2020, when a proposal was made to make use of sensible contracts for the MyPass id verification protocol.
Austin is in league with Miami, New York Metropolis and the state of Colorado in quickly increasing exploration efforts and proposed implementation of insurance policies associated to cryptocurrency. Miami and New York have already launched their own city-wide coin projects by Metropolis Coin on the Stacks layer-1 blockchain, whereas Austin’s personal program remains to be in growth.
Associated: The city of Lugano will accept Bitcoin, Tether and LVGA tokens as ‘de facto’ legal tender
Philadelphia has expressed interest in joining the Metropolis Cash program, whereas Colorado’s Governor Jared Polis mentioned in a Feb. 15 interview that the state will accept crypto for “state tax-related functions.” He later expects to simply accept crypto for a wider array of state authorities providers.
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