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Austin Mayor Launches Exploratory Initiatives for Crypto, Web3 -Breaking

by Mike Robinson

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Austin Mayor Starts Exploratory Initiatives For Crypto and Web3
  • Austin Texas will explore policy options to accept payment.
  • Steve Adler (the mayor of Austin), has embraced blockchain technology and crypto payments as a way to bring prosperity to Austin. He launched two initiatives.
  • Proposals will be voted on by the city’s council on March 24.

Austin is Texas’ second-fastest growing city. The city will investigate policy possibilities to accept Bitcoin for payment. The city will also explore ways to integrate other Web3 applications in order to improve resident’s lives.

Two new initiatives were launched by Mayor Steve Adler to embrace the potential of blockchain technology and cryptocurrency payments.

This initiative aims to promote the use of blockchain technology in the city and promote equity, diversity, access, inclusion, and integration into the tech ecosystem.

Adler will explore the possibilities of Web3 technology and blockchain technology for the city, including smart contracts and supply chain management. He also plans to examine how arts, media and fundraising can be used.

The mayor’s second initiative has ordered the city manager to conduct a “fact-finding study” on ways in which the city could adopt Bitcoin and cryptocurrency-related policies. According to the mayor, Austinites are looking for alternative ways to pay their taxes with cryptocurrency.

Under this second initiative, Austin should find ways to allow “the acceptance of Bitcoin or other cryptocurrencies as payment for municipal taxes, fees, and penalties” as the first set of policies to look into.

These initiatives’ success will depend on how big an impact the new apps have on Austin citizens daily lives. Proposals will be voted on by the city’s council on March 24.

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