According to an official government document, the Mayor of Austin has asked the City Manager to assist in the construction of an enabling government and community environment that supports the development of emerging technologies such as Blockchain and Web 3.0.
The City of Austin’s government hopes that by taking this step, it will join the ranks of New York and Miami, which have grown increasingly involved in the crypto business in recent months. As a result, the mayor has directed that the City Manager perform a “fact-finding investigation” into how the city can accept Bitcoin. The city’s involvement aims to promote fairness, diversity, accessibility, and inclusion in the digital ecosystem, all of which will benefit Austin residents. Furthermore, the city has no restrictions on its involvement in blockchain and web 3.0-related technology, protocols, or applications.
In addition, the city applauds blockchain as a technology that enables safe data storage and sharing on a digital ledger. Blockchain technology, which is at the heart of Web 3.0’s development, is currently being developed all around the world, with individuals looking for new ways to use it. Another motivation for Austin’s participation in the competition is the many possible uses of blockchain in the business and public sectors.
Austin already boasts Capital Factory, Stacks, DivInc, Women in Web3, and a slew of other blockchain-related businesses.
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