Austin Mayor Embraces Web3 Technology and Crypto Payments

Austin, Texas Mayor Steve Adler has proposed two new initiatives, fully embracing the discovery of what blockchain technology and crypto payments can bring to his city.

The first plan aims to ensure that Texas' fourth-largest city promotes the benefits of blockchain technology and "promotes equity, diversity, accessibility and inclusion" within the technology ecosystem. To that end, Adler directed city managers to explore how Web3 and blockchain can be leveraged in 20 areas, ranging from smart contracts, supply chain management, and insurance to the arts, media, fundraising, and identity verification.

“The role of the city manager is to ensure that the city helps create an environment within the city government and the community that supports the creation and development of new technologies, including but not limited to blockchain and other Web3 related technologies, protocols and applications.”

Mayor Adler’s second plan calls for the city manager to conduct a “fact-finding study” on how the city is adopting bitcoin and cryptocurrency-related policies. Through these efforts, Mayor Adler appears to want to find ways for Austin residents to legally pay with cryptocurrencies.

Austin is excited to support businesses and innovations that are turning the promise of Web3, cryptocurrency and blockchain technology into reality.

— Mayor Adler | Get vaccinated! (@MayorAdler) March 11, 2022

According to the plan, city managers should look for ways to allow “the acceptance of bitcoin or other cryptocurrencies as payment for municipal taxes, fees and fines” as the first set of policies to be looked into.

The success of both initiatives will be based on the extent to which the new app impacts the daily lives of Austin residents. The proposals will be put to a vote by City Council on March 24.

The Austin City Council has been considering blockchain technology integration since at least 2020, when a proposal called for the use of smart contracts to implement the MyPass authentication protocol.

Austin is working with Miami, New York City and the state of Colorado to quickly expand exploration efforts and propose policies related to cryptocurrencies. Miami and New York have launched their own city cryptocurrency projects via City Coin on the first-layer blockchain Stacks, while Austin's own project is still in development.

Philadelphia expressed interest in joining the City Coin initiative, while Colorado Governor Jared Polis said in a Feb. 15 interview that the state would accept cryptocurrencies for “state tax-related purposes.” Subsequently, he expects to accept cryptocurrencies for wider state government services.

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