The Mayor’s directions to the City Manager of Austin indicate that he is embracing the benefits of blockchain technology to establish Austin as a crypto hub for the near future. The directions include proposals for two initiatives.
The first one is aimed at promoting equity, diversity, accessibility, and inclusion in the technological ecosystem. The City Manager has been advised to explore how the city can leverage Web3 and blockchain to improve supply chain management, art, media, fundraising, KYC, and more.
The Mayor’s released statement,
“The City Manager is directed to ensure the City is helping to create an environment within city government and in the community generally that supports the creation and development of new technologies, including without limitation blockchain and other Web3 related technologies, protocols, and applications.”
As the second proposed initiative, the Mayor has ordered the conduction of a fact-finding study to explore the adoption of Bitcoin (BTC) into the city’s functioning. The mission will also look into several cryptocurrency-related policies. Mayor intends to explore crypto payment pathways to provide Austin residents with alternative payment channels for utility and civic bills. This will mean that Austin residents would be able to pay their municipal taxes, bills, fees, and penalties in Bitcoin or any other chosen cryptocurrency.
Adding to this effect, Mayor Adler tweeted,
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
“Austin is excited to support the businesses and innovations that will turn the promises of Web3, cryptocurrency, and blockchain technology into reality.”
Both the proposals are up for vote by the City Council, which has been considering adopting blockchain technologies since 2020. An earlier proposal was explored which sought to use smart contract technology for the MyPass identity verification protocol. Therefore, there is an indication that the council could pass the proposals when they vote on March 24.
Austin is the latest US city to join the crypto fire that has been blazing through the country. Multiple other Mayors have also embraced the technology by incorporating and integrating in various urban functions.
For example, the most noteworthy of these is Miami’s Mayor Francis Suarez. Not only did he accept his entire paycheck in BTC, thus normalizing the crypto to a great level, but he also initiated the launch of the MiamiCoin (MIA), the native crypto for the city of Miami, which generated revenue of $10 million in two months.
NYC Mayor Eric Adams has also followed Mayor Suarez’s footsteps by accepting his first three paychecks in crypto (mainly BTC and ETH). Furthermore, during his campaign, he had promised to increase crypto awareness and acceptance by revising school curriculums and business payment modes to educate students and inspire businesses.
