Cryptocurrency, News

Austin Mayor To Adopt Friendly Policies for Web 3.0 Tech and Cryptocurrency Payments

Austin is planning to formulate policies that will see it accept BTC payments and use blockchain to improve living. Austin’s Mayor Steve Adler is impressed with blockchain capabilities and has fully opened his arms to accepting this technology to improve the lives of his people.

Adler reiterated his support for businesses and firms that will leverage blockchain and turn it into reality on his Twitter handle. Currently, the Mayor is exploring some options to fully drive the adoption of the technology in Austin. So far, he has come up with two great proposals. 

Adler’s Propositions

First, the Mayor proposes to publicize the advantages of blockchain, such as financial inclusion, onboarding the underprivileged, supporting diversity, and reducing entry barriers. To that effect, the Mayor has asked the city manager to investigate how Austin can deploy blockchain to their benefit. 

In his words, he said, “the manager has been instructed to make sure Austin has the right environment to support web3 technologies without hurdles.”  

The second proposes that Austin’s manager conduct a survey to determine how best the city can  use bitcoin and other virtual assets. Through this initiative, the Mayor seeks the best legal way for residents to pay for services and taxes with digital currency. 

The achievement of these proposals lies solely in how impactful blockchain and crypto use have been on the people of Austin. The initiatives will be passed through voting when the council sits on the 24th of this month. 

Interest in Blockchain Integration Spikes Across U.S. Cities

Austin first imbibed the idea to integrate blockchain technology since 2020. Their first thought came when it was suggested to use the technology for the MyPass authentication protocol. 

Like Austin, Colorado and Miami are stepping up pursuits to accept crypto use and blockchain. They are expanding their efforts to create a policy that serves as the bedrock for virtual assets and blockchain to avoid issues in the future. Colorado has stated it will soon accept virtual coins for all tax payments and government services. 

Currently, Miami alongside New York City are the only known cities to unveil their ambitious Coins on Stacks. Reports reveal that Austin’s is still in progress, but the information hasn’t been verified yet.

Thanks to the revolutionary steps taken by Miami and New York City, many cities in the United States are indicating interest to kickstart their City Coin initiative. Philadelphia is the latest city to join in the movement. Elsewhere, Lugano in Switzerland has revealed it will accept bitcoin and other tokens as a legal tender.

Leave a Reply

Your email address will not be published. Required fields are marked *