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An Austin, Texas, City Council member on Thursday announced a resolution that would explore possible uses of Bitcoin and other cryptocurrencies in the city.
The resolution, from Austin City Council Member Mackenzie Kelly (District 6), came ahead of South by Southwest’s return to the city after two years of the COVID-19 pandemic.
Web3 and Blockchain Ecosystem press conference (Jack Greenburg)
Council Member Kelly spoke alongside Austin Mayor Steve Adler and other tech entrepreneurs at a Web3 and Blockchain Ecosystem press conference.
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In her address, Council Member Kelly proposed multiple municipal uses of cryptocurrency and blockchain technology to provide possible benefits for the financial health of the city government, provision of city services, and Austin residents writ large.
Among her proposals was that Bitcoin or other cryptocurrencies could be used to pay property taxes or be given as wages to city employees.
The resolution is set to be voted on during a March 24th city council meeting and already has the support of Mayor Adler.
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Kelly told Fox Digital that the resolution "specifically directs the city manager to see if cryptocurrency is a viable option to accept as a form of payment in the city of Austin."
Kelly said the directive could potentially "offer flexibility" to Austinites who don't have a bank or like the fact that cryptocurrency "is not tied to something like other forms of payment might be."
Web3 and Blockchain Ecosystem press conference (Jack Greenberg)
Despite her optimism about Austin’s potential adoption of blockchain technology, Kelly said concerns linger that the "volatility and price swings are definitely something" that may "prohibit us from being able to utilize it as a form of payment."
She said she does not "know if we can accept cryptocurrency" because of potential state or federal laws, which is "precisely why I brought this resolution to see if it's something we can do."
Still, the council member said she is "really excited that we launched this at the same time South by Southwest is starting here in the city of Austin."
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Kelly maintained she wants any potential cryptocurrency adoption "to be a focus for the city that we can utilize as a foundation moving forward that could be replicated all across the country."
Other cities around the country including Philadelphia, New York, and Miami are also exploring the use of cryptocurrencies.
Fox News' Jack Greenberg contributed to this article.