Looking at the potential that blockchain technology and cryptocurrency payment chains can bring to his city, Mayor Steve Adler has proposed two new initiatives:
#1: Create an environment that promotes diversity of applications in the technology ecosystem
Mayor Steve Adler directed the city’s governor to figure out how their residents could use digital technology on web3 and blockchain in a more diverse way. There are more than 20 areas under consideration, such as smart contracts, supply chain management and insurance to the arts, media, fundraising and identity verification. This is to ensure the “promotion of equity, diversity of accessibility and inclusion” in the technology ecosystem.
“ The City Governor is directed to implement plans to create an environment within city government and in the community at large, in order to support the formation and development of new technologies. This includes but is not limited to blockchain and other Web3-related technologies, protocols or applications.”
#2: Real research to come up with appropriate policies
Mayor Adler ordered a practical study of how to apply policies related to Bitcoin (BTC) and cryptocurrencies, thereby finding a way for Austin residents to legally pay their bills using cryptocurrencies.
Under the initiative, regulators should consider “accepting Bitcoin or other cryptocurrencies as payments for city taxes, fees, and penalties.”
Austin is excited to support the businesses and innovations that will turn the promises of Web3, cryptocurrency, and blockchain technology into reality. Thanks to @MK6ATX for her resolution and @RaffiSapire, @consensus2022, @JoshuaBaer, and @PrestonLJ2 for their leadership! #SXSW pic.twitter.com/HdmuGA0l2Y
— Mayor Adler (@MayorAdler) March 11, 2022
Has Austin succeeded in accepting cryptocurrency payments and Web3 technology?
The city council will hold a vote on March 24. The impact of the new applications on the daily lives of Austin residents is the leading factor in determining the success of these two initiatives.
In fact, from 2020, Austin’s City Council has been considering integrating blockchain technology from a proposal to use smart contracts contained in the MyPass identity verification protocol.
Austin is partnering with Miami, New York, and colorado state in rapidly expanding exploration efforts and proposing to implement crypto-related policies. Miami and New York have launched their own citywide token projects through City Coin on Stacks’ blockchain, while the city of Austin’s own program is still in development.
In an interview Feb. 15, Colorado Governor Jared Polis expressed that the state will accept cryptocurrencies for “tax-related purposes” and hopes to be able to expand its use “for a wide range of state government services” in the future. The City of Philadelphia has also expressed interest in joining the City Coins initiative.
#Web3tech #Blockchain #ecoinomic