Home News Austin mayor embraces Web3 tech and crypto payments

Austin mayor embraces Web3 tech and crypto payments


In reaction to his city’s discovery of the benefits of blockchain technology and cryptocurrency payments, Mayor Steve Adler of Austin, Texas, has proposed two new initiatives.

In fact, the first initiative intends to ensure that the fourth-largest city in Texas promotes the benefits of blockchain technology. As well, “promotes equity, diversity, accessibility, and inclusion” in the technological environment. Thus, May Adler ordered the city manager to investigate how Web3 and blockchain can be used in 20 various businesses. Including smart contracts, supply chain management, and insurance, as well as arts, media, fundraising, and identity verification.

“The City Manager is directed to ensure that the City is assisting in the creation of an environment within city government and the broader community that encourages the creation and development of new technologies. Including but not limited to blockchain and other Web3 related technologies, protocols, and applications.”

Under Mayor Adler’s second agenda, the city manager mandated to perform a “fact-finding study” on how the city should implement Bitcoin (BTC) and cryptocurrency-related policies. Through these efforts, Mayor Adler appears to seek making it legal for Austin residents to pay their bills with cryptocurrencies.

Bitcoin or other cryptocurrencies as payment

The city manager should look into “the acceptance of Bitcoin or other cryptocurrencies as payment for municipal taxes. As well as for fines, and penalties” as the first set of rules to investigate under this effort.

The effectiveness of the two programmes will soon determined by the impact of new applications on Austin residents’ daily life. The municipal council will vote on the proposed modifications on March 24.

Since at least 2020, when a proposal made to employ smart contracts for the MyPass identity verification protocol, Austin’s City Council has been studying blockchain technology integrations.

Austin is joining Miami, New York City, and the state of Colorado in quickly growing cryptocurrency exploration initiatives and planned policy adoption. City Currency on the Stacks layer-1 blockchain has already launched city-wide coin projects in Miami and New York. While Austin’s programme is still in the works.

Swiss city of Lugano to pay taxes in crypto via Tether partnership

In a February 15 interview, Colorado Governor Jared Polis announced that the state will accept cryptocurrencies for “state tax-related uses”. In the future, he expects to accept cryptocurrencies for a wider range of state government services.

Previous articleWhat is Solana (SOL) Pay, and how does it work?
Next articleEnvironmental sustainability key sticking point in EU MiCA bill