City of Austin Looking to Accept Cryptocurrency Payments and Adopt Blockchain

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City of Austin Looking to Accept Cryptocurrency Payments and Adopt Blockchain By Hannah Perez

The mayor of Austin has presented two proposals to promote the adoption of Bitcoin and its underlying technology that will be voted on by the city council at the end of March.

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The capital of Texas in the United States appears to be on its way to becoming a cryptocurrency hub and blockchain.

Austin Mayor Steve Adler has put forward a couple of proposals for the fourth-largest city in Texas to look into accepting cryptocurrency payments and adopting blockchain technology. The project seems to seek to replicate cities like Miami and New York, which have moved to adopt Bitcoin and its underlying technology, according to local media Kxan.

Adler advanced part of the plans during the iconic event South by Southwest (SXSW), which is taking place this week. Austin is excited to support the companies and innovations that will bring the promises of Web3, cryptocurrency and blockchain technology to life.said in a tweet. He also stood out in the middle Kxan:

We want to be part of the cities that are thinking big and bold and attracting talent.

Two pro-crypto proposals for Austin

One of the proposals, introduced by Adler and Councilmember Mackenzie Kelly, would direct the city manager to conduct an investigation with the goal of generating policies that allow the city of Austin to accept Bitcoin and other digital currencies for payments of municipal taxes, fees and fines.

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The approval of this project would allow residents of the Texas capital to legally pay their bills with cryptocurrencies. The proposal appears to be part of a larger effort by the mayor to make Austin an attractive hub for digital currency businesses and investors and the surrounding ecosystem.

A second proposal would encourage and promote the adoption of technologies such as blockchain in a wide range of city services and projects. This resolution would direct the Austin administrator to investigate how use blockchain technology in 20 fieldsincluding payments, identity, fundraising, supply chain, arts and more.

The eraser of the initiative says that one of the pillars of the resolution is to promote “equity, diversity, accessibility and inclusion” in the technological ecosystem. It also reads:

The city manager must ensure that the city helps create an environment within the city government and in the community at large that supports the creation and development of new technologies, including, but not limited to, Blockchain and other technologies, protocols and Web3 related applications.

More US Cities Chasing Bitcoin

The Austin City Council is preparing to vote on the proposals at a meeting scheduled for March 24.

In accordance with Cointelegraph, the Austin City Council has been considering technology integrations of blockchain since at least 2020, when did a proposal to use smart contracts for identity verification protocol MyPass. Although, according to one of Adler’s proposals, the city’s Office of Innovation began researching the technology in 2017.

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The move by the Texas capital is in line with that of other cities in the country such as New York, Miami and Colorado, which have been directing efforts to compete in the emerging digital and technological field. New York and Miami have launched their own cryptocurrencies in alliance with City Coin. Also its mayors, Eric Adams and Francis Suárez, have received their salaries in Bitcoin.

More recently, Colorado Governor Jared Polis announced that the state will begin accepting digital currencies for taxes and other state payments beginning in August at the latest. Other regions of the North American country such as Philadelphia have expressed interest in joining the program of City Coin to launch a citizen token.


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Article by Hannah Estefanía Pérez / DailyBitcoin

Unsplash image edited in Canva

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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