Texas City Austin to Accept Cryptocurrency Payments

Austin, the capital city of Texas, may soon accept cryptocurrency as a payment method. The mayor of Austin, Steve Adler, joins the U.S. mayors of New York and Miami, who have already embraced blockchain technology as a way to provide their constituents with benefits and new opportunities.

Adler proposes to apply blockchain technology to a wide spectrum of city services, payment processing and consumer activities, data security, smart contract, fundraising, art and music, media, and more. The mayor is seeking to create an advanced-tech environment that supports innovation in the city.

During a meeting on March 24th, the Austin City Council will explore the proposal to accept Bitcoin and other cryptocurrencies as a payment method for municipal taxes, fees, and penalties.

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

Adler said.

“The City Manager is directed to consider supporting, participating in or organizing the facilitating of the creation and development of blockchain technologies through activities such as, without limitation, hackathons, accelerators, incubators, contests, challenges, and prizes,”

the official paper states.

On the Flipside

  • In 2017, Austin’s Office of Innovation received a grant for the development and research of blockchain technology. It aimed to create innovative solutions for homeless people and deliver “public advancements that might well have practical applications.”

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