Jackson Mayor Scott Conger is moving forward with his plan to turn the American city into a haven for Bitcoin, cryptocurrencies and blockchain technology.
Scott Conger, mayor of the city of Jackson, Tennessee (United States), announced via Twitter the creation of a working group focused on technology blockchain and cryptocurrencies, The objective, as explained by the mayor, is to advance its adoption plans Bitcoin (BTC), the main and most important cryptocurrency in digital markets, and turn the city into an innovation center for the sustainable development of this industry.
Conger reported on the creation of a new Blockchain Task Force that is investigating multiple alternatives to make it possible for the city of Jackson to accept bitcoins as a form of payment for property taxes. In addition, the mayor also noted that the possibility of allowing his employees to perform dollar cost averaging (DCA) using bitcoin is being explored.
In April, the 37-year-old mayor said the city was exploring ways to integrate Bitcoin as a means of payment and investment, and was looking at options to boost sustainable Bitcoin mining in the city. With these actions, Jackson is following in the footsteps of Miami and its mayor Francis Suarez, who is also encouraging green cryptocurrency mining in his territory, through 100% carbon-free nuclear sources.
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Jackson, Bitcoin and Blockchain
Scott Conger wants to make Jackson a cutting-edge city, aligned with innovation and new technological and financial developments. For years, Conger has been promoting the adoption of Bitcoin as an alternative solution to several of the inflation problems experienced in the United States.
The mayor has become a Bitcoin maximalist, even sporting laser eyes in his Twitter profile picture – a clear demonstration of his full support for the innovation that this cryptocurrency represents around the world.
Future growth and development
On many occasions, Conger has said that Bitcoin will help the city and the country build a more equal and fair future. The innovation that cryptocurrencies bring will attract more investors and open new jobs, among many other things, which will boost the growth and development of the local and national economy.
The mayor has also expressed his belief that bitcoin is an efficient way to hedge against inflation. In a tweet last week, Conger noted that in its lifetime the US dollar has lost more than 17% of its value, and that every year fiat currency will continue to lose its value.
Cryptocurrencies in the United States
2021 has been a year of great developments and advancements for cryptocurrencies in the United States. Although, to date, the nation still does not have clear regulation for crypto assets, and regulators maintain divided opinions on this issue, in states such as Wyoming, Florida, Texas, Colorado, North Dakota and Tennessee the situation regarding cryptocurrencies has been evolving.
Wyoming, crypto oasis
Wyoming, for example, is considered the state with the most favorable regulations for the development of the crypto industry in the United States.
Recently, Wyoming introduced a law that allows it to recognize DAO (Decentralized Autonomous Organizations) as a fully legal form of limited liability company (LLC) in their jurisdiction. The newly passed law makes Wyoming the first state in the country to recognize DAOs as legal organizations.
Senator Cynthia Lummis also invited Bitcoin miners to settle in her territory, guaranteeing electricity supply to keep their facilities operational with affordable energy rates.
Sustainable Bitcoin Mining
In the case of Florida and Texas, states are also positioning themselves as favorable jurisdictions for cryptocurrency mining. In Miami, Florida, Mayor Francis Suarez is pushing for the adoption of crypto assets as investment alternatives, and is even considering paying salaries in bitcoins for those employees who want it.
Texas, on the other hand, is one of the most favorable destinations chosen by bitcoin miners, who are being displaced by strict regulation in China.
Taxes and public services
Colorado and North Dakota are also opening the doors to cryptocurrencies and digital assets. Colorado Governor Jared Polis wants to make the state one of the first in the country to accept bitcoin and other cryptocurrencies for state tax payments. Polis, who is also a bitcoin advocate, said that Colorado will become a complete innovation and development center for cryptocurrencies and blockchain technology, and that it will be a world reference.
In Williston, North Dakota, Finance Director Hercules Cummings reported that the city was the third in the United States to welcome cryptocurrencies as a payment alternative. In May, Cummings explained that Williston citizens could already use their crypto assets to pay their utility bills, as it is a much faster and more efficient means of payment than traditional money.
Bank of North Dakota is also seeking approval from lawmakers to become the first in the state to offer custody services for cryptocurrencies and digital assets.
Continue reading: Consensus 2021: Colorado wants to be a pioneer in accepting bitcoin in tax payments
