Austin City Council members will vote today on whether the city should dip its toes into cryptocurrency. The resolution in front of them asks the city manager to look into what it would mean for the city to adopt, use or hold crypto. | AKMcGlinchy
Austin City Council will vote on a resolution asking the city manager to look into what it would mean for the city to adopt, use or hold cryptocurrency.
“There’s just so much skepticism around it. So, my biggest draw to doing this is to see if as a city we need to stay out of it or ... if it’s something we shouldn’t be so skeptical about,” said Council Member Mackenzie Kelly, who represents Far Northwest Austin and brought the resolution forward. She told KUT she does not own any cryptocurrency.
Let’s start with blockchain, the platform through which cryptocurrency flows. Experts describe it as a “digital ledger,” a place where transactions are both decentralized — i.e., not overseen by a bank — and impossible to erase.
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