Bitcoin’s journey is certainly admirable. The asset’s drive to shun off its association with the dark web is lauded by many. With a value of $42K, BTC has managed to capture the attention of governments across the globe. Only this time it was for a good reason. The city of Portsmouth of New Hampshire was following the footsteps of Miami and embracing crypto.
Portsmouth’s mayor, Deaglan McEachern has reportedly put forth the idea of including crypto as a payment choice for its citizens. The mayor’s pitch involves paying bills pertaining to the city with cryptocurrencies through PayPal. While it isn’t clear what currencies would make the cut, Bitcoin is certainly an obvious choice.
McEachern further spoke about the ongoing digital transformation and said,
“There are waves of new things that are going to affect us in terms of our future that use the type of technology used in cryptocurrency. I want to make sure Portsmouth is not waiting around to see how this is going to affect us in the future because it’s already affecting us.”
As a small city, Portsmouth could easily and swiftly include crypto into its financial system, the mayor added.
Bitcoin and other cryptocurrencies are on the right track; Here’s why
The rumors and controversies surrounding Bitcoin certainly demented the growth of the industry. However now, those who haven’t embraced crypto yet live in the fear of missing out on the next big thing. Portsmouth did not want to be a part of the latter.
The mayor pointed out that the City Hall had done its research and formulated ways to employ crypto to spruce up the services offered by the city. The imminent inclusion of crypto into the city’s system is expected to enable “greater participation.”
Furthermore, McEachern considers crypto to emerge as a transformational medium for financial services. Pointing out the ethos of Bitcoin, he suggested that it had the ability to aid those who are underbanked.