Detroit is about to become the biggest city in the US to let people pay their taxes and other bills using cryptocurrency. This new system, set to launch in mid-2025, will be powered by PayPal, ensuring security and reliability.
More Options for Everyone
The city sees this as a way to make paying bills easier for everyone, especially those who don’t have traditional bank accounts. The new system will offer more digital payment options, making it simpler to pay property taxes, municipal fees, and permits.
Calling All Blockchain Innovators
Detroit is looking for creative minds to help them build the future of blockchain in government. They’re inviting entrepreneurs to submit proposals for civic blockchain solutions by December 15, 2024. The goal is to find the best ideas and make Detroit a leader in using blockchain to improve city services.
A Growing Trend
Detroit’s move is part of a bigger trend in the US. Several states, including Colorado, Utah, Louisiana, and Oklahoma, now accept cryptocurrency for state payments. Smaller cities like Williston, North Dakota, and Miami Lakes, Florida, are also using platforms like BitPay and PayPal to accept crypto.
Leading the Way
While many cities are interested in crypto, few have actually set up systems to accept it. Miami launched its own cryptocurrency, MiamiCoin, but doesn’t accept crypto for official payments. New York City is supportive of crypto but hasn’t implemented any payment systems yet.
Detroit’s program could inspire other big cities to follow suit. By using PayPal for secure transactions and converting crypto to US dollars, the city is offering a stable and reliable way to embrace the future of finance.
