Jackson Adds Crypto Payment Option to City Employees

Jackson Adds Crypto Payment Option to City Employees

February 16, 2022 0 By Keith Jacobs

Tennessee State city Jackson is making some big progress on the cryptocurrency adoption front. Recently, mayor Scott Cogner has made it possible for city employees to get compensation in the form of Bitcoin. The local media outlet, Jackson News, reported recently that the payroll conversion had been officiated with the efforts of Cogner on Sunday.

It is worth mentioning that Cogner has been working on making Bitcoin a more approachable asset for the resident of the city. He told the media that with Bitcoin as an option, the city employees would be able to diversify their mode of remuneration. He has made the transition possible by getting approval on the legal motion to make the Bitcoin payments happen.

According to the media reports, the Bitcoin network received the request for a payment conversation option. In response, the network established a request for proposal or RFP for Jackson city. With this new transition, the administration of the city will be able to integrate a third-party platform to convert the salaries of the city employees into Bitcoin upon request.

City Mayor announced the formation of a committee to open the bids and review the response. He expects that the recommendation will be sent before the end of February.

Miami City Mayor Francis Suarez has been pushing for Bitcoin integration with the city administrative, financial infrastructure since the start of the current year. He has shared plans for making city employee payments in Bitcoin as well as allowing the locals to settle their taxes with the top coin. Cogner claims that Miami is in a better position to make the transition happen.

On the other hand, the Bank of England has issued a vote of distrust for the Bitcoin network despite the rising inflation in the country. The step has made the masses realize that the government is at a clash with the cryptocurrency industry. Meanwhile, steps taken by Mayor Cogner and Mayor Suarez have proceeded to restore the faith of people and state in Bitcoin.