the On the long and rocky path to the Mainstream adaptation of the acceptance by governments as a milestone. A canadian small town in Ontario is now discussing a pilot project for the payment of taxpayers ‚ money in crypto-currencies. The implications of such a project are likely to ensure a broad Grin.

Max Halder
On 29. March 2019BTC$4.115,35 2.03%part Facebook Twitter LinkedIn xing mail

Bitcoin and other crypto-currencies were in Canada lately is bad press. Blame it on the ominous Disappearance of the heads of the canadian Exchange QuadrigaCX. The city Council of the small canadian town of Innisfil, near the U.S. border, could soon provide against the wind. At a city Council meeting on may 27. March was the as a progressive politician known Jason Reynar the proposal to allow citizens and businesses the contribution payments for the public community as well as the land tax in the Form of crypto-currencies.

The small town of Innisfil

Innisfil is considered to be innovation-friendly city. The two speakers, Reynar and his colleague Davis Lockie, in the adaptation of crypto currencies is a possibility, the technological edge of the city to continue to expand. You refer to cheaper fees to be able to credit card payments:

the property tax to pay by credit card, you need to make use of a payment processor (this is called Plastiq). Conditional transaction fees, must pay the owner directly to that provider (and the fees are around 2.9 percent).

in the event that such payments in crypto-currencies are unwound, are incurred in the still fees. But according to the Reynars and Lockies this would fall to 0.5 percent. So your draft, see to, that you would appoint on the part of the municipality to the payment processor Coinberry Limited.

Coinberry Limited

Coinberry Limited is a canadian FinTech company that also acts as a Exchange. In the year 2017 based company is registered with the financial regulator (FINTRAC), adheres to the KYC principle and takes into account Anti-money laundering guidelines. In the Wake of the QuadrigaCX-Broke the arisen problems – separate storage of customer and company funds, the use of Multi-Signature Wallets, etc. – were excluded in the Coinberry Limited. As one of two Exchanges in Canada Coinberry Limited, the independent company was classified advice as credible and reliable. In addition, the leading company for Cyber Security testing of the platform on a regular basis for security vulnerabilities.

the town of Innisfil is not forced to have crypto-currencies, exchange Coinberry Limited to the payments received directly in the national currency and write the corresponding amount of the city,

so the two speakers. Exchange rate fluctuations would be taken into account in confirmation delays on the Blockchain, of course. Thus, the contributions to be paid in the case of short-term price fluctuations in the difference or get credited. However, it is up to the city to decide whether or not the possession of crypto-currencies, maybe in the future a sensible Option.

freedom for citizens and businesses

On the side of those interested in this new payment system, the choice is, in Coinberry Limited to register or to use an already existing Wallet. So far, the cost-effective method of Payment of contributions to the community, the Bank’s catchment. These benefit agents according to the report, 22 percent of the Contribution. Reynar and Davis, the city Council rates to a one-year pilot project with subsequent evaluation. Then one could talk about whether the payments in crypto-currencies should in the future continue to be possible.

conclusion

During the meeting, it was said that Innisfil „was one of the few“ cities that are considering this now. Jason Reynar is a much respected man, has submitted with this proposal a thought-out design that encourages imitation. On the way to Mainstream adaptation, this would be a pioneering knight.

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