Cryptocurrency for taxes set to launch in Detroit by 2025
The initiative aims to modernise payment systems, benefiting all residents, including the unbanked, with streamlined electronic payment channels.
Detroit residents will soon be able to pay city fees and taxes using cryptocurrency, making it the largest city in the US to adopt digital payments. In collaboration with PayPal, City officials aim to make these transactions secure and accessible, setting mid-2025 as the launch date. Mayor Mike Duggan highlights this as part of a wider initiative to attract tech entrepreneurs and promote blockchain’s potential in Detroit, hoping to foster economic growth and improve civic engagement.
The move also allows blockchain innovators to present projects that could enhance Detroit’s public services. Justin Onwenu, Detroit’s Director of Entrepreneurship and Economic Opportunity, encourages entrepreneurs to submit proposals by 15 December 2024, focusing on blockchain’s potential to improve data security, transparency, and service efficiency. Detroit’s open invitation underscores its ambition to position itself as a progressive hub for technological advancement.
Detroit officials also aim to modernise payment processes city-wide, improving accessibility and efficiency. The Treasurer’s Office envisions the new system as a bridge for Detroiters, including unbanked residents, to benefit from smoother electronic payment channels, reinforcing Detroit’s reputation as a forward-thinking, tech-friendly city.
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