Bitcoin to pay city staff? Fucking legendary!
I've heard of him before, the Mayor of Miami is on a mission to turn the city into a tech hub. It really seems like he has good intensions.
As reported yesterday in this forbes.com article, Miami's mayor Francis Suarez is making moves to build the ultimate tech city destination for entrepreneurs.
Miami is considering the following ways to integrate Bitcoin:
City Staff Salary's
City staff would have the option to be paid in Bitcoin, how awesome would that be? It won't be for everyone, because it means staff would have to manage their wallets and do conversions to Tether and Fiat where needed.
This appeals to me on a macro level because it's a move away from fiat.
If I could avoid having my pay checks routed through a centralized bank, I would! At the same time this would represent a shift to where people would have to take on some of the work that a bank would normally do. In general I think this is a good thing, and eventually the majority of humans will have the knowledge required to manage crypto keys, and crypto currency conversions.
Local Fee's and Taxes
Again this is a move away from fiat, and combined with employees being paid in crypto represents a larger move shift in using cryptocurrency for everyday transaction and business transactions.
If the city wants to accumulate Bitcoin and increase their capital then it makes sense that they accept it as payment for fees and taxes. Miami wants to HODL!
Being able to pay for license fees or even simple shitty things like a parking ticket is a major step towards main stream adoption.
It wont happen overnight, but for everyone that isn't into crypto when they look at the back of their parking ticket and see the city accepts crypto, it plants the seed.
Capital Investment
Many financial institutions are accumulating digital assets including Bitcoin, why not the city?
Obviously Miami's mayor see's an opportunity for his city to prosper, or at least he doesn't want to miss the boat. This actually makes so much sense it's scary!
Ok not only are financial institutions accumulating digital assets but why not cities and municipalities too. They all may eventually be accumulating, and probably along with governments at the federal level.
Miami's mayor see's an opportunity to move away from fiat that is being printed like it's going out of style and moving to a digital asset with proven scarcity.
This is a long game he's playing, and he wants to position the city for success.
Ciao for now,
