Funds for metropolis providers by way of cryptocurrency may grow to be a actuality within the close to future, as may storage and processing of paperwork utilizing blockchain ledger know-how. These are two of the potential outcomes from a pair of resolutions set for consideration at subsequent week’s Metropolis Council assembly, following a South by Southwest competition closely centered on more and more prevalent applied sciences.
A resolution from Council Member Mackenzie Kelly would direct the town supervisor to look at methods the town may undertake the usage of Bitcoin and different cryptocurrencies for monetary transactions, in addition to the advantages and dangers of utilizing strictly digital forex.
Mayor Steve Adler’s resolution is targeted on the extra foundational blockchain tech that helps these currencies to exist by producing digital information of transactions between customers and organizations. In touting blockchain as probably revolutionary development, the decision would direct the town supervisor to pursue occasions and initiatives that promote the know-how and companies within the metropolis concerned in its development.
The decision identifies 20 parts of municipal providers that might be improved utilizing blockchain platforms, equivalent to processing of functions and transactions, dealing with of asset titles, id verification and cost processing.
Adler participated in a press conference final week with native tech leaders selling blockchain. By way of electronic mail, Adler mentioned he sees nice potential in utilizing it to enhance supply of metropolis providers.
“Prospects for blockchain functions are countless. I’ve heard of a number of innovators combining NFTs with possession curiosity in artwork items to be later bought, permitting artists and buyers to fulfill each other with out the middlemen and giving every larger management over their property,” he mentioned.
Adler mentioned blockchain was a subject of a lot dialogue among the many 25 mayors who attended SXSW, noting that his listing of 20 municipal service makes use of may have grown to 100, since “everyone seems to be on the lookout for modern options to deal with municipal challenges.”
“I’ve not seen, but, a metropolis use of a blockchain software that meets the potential of the know-how, although a number of appear to be pursuing use circumstances,” he wrote.
Kelly mentioned her pursuits in civic makes use of for cryptocurrency grew final 12 months when she realized in regards to the focus of crypto-related companies in Austin, and heard of Gov. Greg Abbott’s aim to make Texas a world chief in crypto and blockchain applied sciences. Kelly deliberate to attend a Bitcoin-related occasion as we speak made potential by the focus of tech expertise in Austin for SXSW.
Her decision, which asks for a progress report in June, would shed extra mild on the positives of accepting cryptocurrency, although she famous the volatility of Bitcoin and different cash is a priority.
“One of many potential makes use of of cryptocurrency being adopted by the town can be the chance to pay for metropolis providers and property taxes. This might provide flexibility to individuals who won’t have a checking account or conventional types of cost that the town traditionally has taken,” she mentioned by way of electronic mail.
“The market modifications associated to cryptocurrency will definitely be a figuring out issue on this examine to find out if it might be an accepted type of cost or not.”
Town’s Innovation Workplace obtained a pair of grants in 2018 that led to the creation of a blockchain platform finally often known as Life Files Austin that’s nonetheless being finalized and was created to assist homeless individuals convert their very important paperwork to safe digital information. The target was to stop somebody’s life from being disrupted within the occasion of the lack of a beginning certificates, Social Safety card or different essential paperwork.
Kerry O’Connor, former head of the Innovation Workplace, mentioned employees recognized notary certification as one other use of the know-how, with work being performed to carry out notarization providers in compliance with Texas legal guidelines.
O’Connor mentioned hiring and retaining blockchain builders to create functions and platforms would possible be a problem for the town since these positions command salaries of greater than $150,000, however she added that the number of makes use of was apparent.
“There may be a number of potential for these applied sciences, and my focus after I was innovation officer was to ask how we are able to use these applied sciences to carry up the marginalized and carry up those that are experiencing poverty and make it a rising tide that lifts all boats,” she mentioned. “With consideration to ethics and consumer expertise design they may help everybody.”
Photograph made obtainable by way of a Creative Commons license.
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Posted In: City Hall
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