Austin mayor embraces Web3 tech and crypto payments

Jeffrey Cuebas March 22, 2022
Austin mayor embraces Web3 tech and crypto payments

Mayor Steve Adler of Austin, Texas, has fully embraced the discovery of what blockchain technological innovation and crypto payments can deliver to his town by proposing two new initiatives.

The very first initiative aims to be certain that Texas’s fourth-most significant city encourages the benefits of blockchain technologies and “promotes equity, range, accessibility, and inclusion” in the technological ecosystem. To that conclude, Might Adler directed the metropolis supervisor to discover how the town can utilize Net3 and blockchain in 20 fields from clever contracts, provide chain management and insurance to arts, media, fundraising and id verification.

“The Metropolis Supervisor is directed to make certain the Town is helping to produce an atmosphere inside town govt and in the community typically that supports the development and growth of new technologies, which include without the need of limitation blockchain and other Internet3 linked technologies, protocols, and programs.”

Mayor Adler’s next initiative orders the town supervisor to carry out a “fact-finding study” on how the town could undertake Bitcoin (BTC) and cryptocurrency-linked guidelines. As a result of these attempts, Mayor Adler seems to want to locate strategies for Austin residents to legally spend their bills with crypto.

Beneath this initiative, the town manager must locate approaches to allow for “the acceptance of Bitcoin or other cryptocurrencies as payment for municipal taxes, expenses, and penalties” as the initially established of guidelines to glimpse into.

The success of the two initiatives will be based on the amount of outcome new apps have on the daily life of Austin residents. The proposals will be voted on by the city’s council on March 24.

Austin’s City Council has been thinking of blockchain technological integrations because at minimum 2020, when a proposal was produced to use sensible contracts for the MyPass identification verification protocol.

Austin is in league with Miami, New York Metropolis and the state of Colorado in promptly expanding exploration initiatives and proposed implementation of guidelines similar to cryptocurrency. Miami and New York have now introduced their have city-broad coin projects by way of Metropolis Coin on the Stacks layer-1 blockchain, though Austin’s have software is even now in progress.

Linked: The town of Lugano will acknowledge Bitcoin, Tether and LVGA tokens as ‘de facto’ legal tender

Philadelphia has expressed fascination in joining the Metropolis Coins system, although Colorado’s Governor Jared Polis stated in a Feb. 15 interview that the point out will settle for crypto for “state tax-similar uses.” He afterwards expects to acknowledge crypto for a broader array of condition federal government services.