AustinCoin? Council Considering Crypto

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Some City Council members want to look into cryptocurrency as a way to pay taxes, city bills.

are bringing two resolutions to the Council meeting today, March 24, asking staff to explore the potential use oftechnologies for a variety of official city of Austin uses. The proposals, which were posted on the Council message board two weeks ago, have been met with skepticism among members of the Austin community that have not already bought into the crypto/blockchain/Web3 hype – including from the local tech community.

Rosenthal's skepticism is shared by several council mem­bers who voiced their concerns at Tuesday's work session, March 22."At this point, given its relatively recent entry into [the tech sector] I am really cautious about the city adopting or using it," CMsaid in reference to Adler's blockchain resolution, though she was equally concerned about the city lending its imprimatur to cryptocurrencies.

Both resolutions are purely exploratory in nature, a point emphasized by both Adler and Kelly in response to pushback from their colleagues. The most recent draft of Adler's resolution directs staff to"create an environment within city government and in the community generally that supports the creation and development of new technologies," including Web3 and blockchain technologies.

, as a way to pay for"municipal taxes, fees, and penalties" and improve the delivery of municipal services, as well as what it would take to allow the city to accept donations in the form of crypto."I pushed back at some of the people in the community that are trying at this point to turn it into a debate about ... adopting these technologies for particular uses," Adler said during the work session.

 

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chitovela3 no, gracias.

Please don’t

Not if it's mined using tons of coal-based energy! What happened to Austin's goal to become a carbon neutral city?

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