Austin has long been a global leader in innovation and technology. Recently, it has even become a Bitcoin mecca for developers. Though Austin has heaps to offer the greater community, it still leaves much to be desired. To our absolute glee, it looks like leaders right here in the capital are starting to make it happen.
This past Wednesday, Council Member Mackenzie Kelly announced that she will be introducing a resolution to direct the city manager to "investigate possible uses of cryptocurrency and technology to benefit the city and its residents." This is obviously exciting news, but even if it passes Austin isn't going to be accepting bitcoin anytime soon. The resolution would only result in an investigation into possible implementations that the city could make regarding bitcoin.
This resolution asks the City Manager to come back with a fact-finding study of an analysis of what would be required for the city to accept a payment of Bitcoin or other cryptocurrency and possible ways for the city to use those funds to address public service needs including an analysis of financial stability and security of cryptocurrency.
You can read the entire resolution here. While this motion won't result in a direct physical act, it is still massive news for Austin and a step in the right direction. It proves that plebs here are creating enough signal to actually impact local legislation. Unfortunately, it seems that shitcoiners are trying to take action as well. Instead of supporting a truly decentralized and secure system, Mayor Adler has chosen to place his bet on the clusterf**k that is Web3 and it appears Stacks is apart of this.
The City Manager is directed to ensure the City is helping to create an environment within city government and in the community generally that supports the creation and development of new technologies, including without limitation blockchain and other Web3 related technologies, protocols, and applications.
If Adler gets his way, Austin will follow in the footsteps of Miami by creating its own "city coin." This will be a complete disaster.
I don't think I even need to begin to explain why a new centralized cryptocurrency run by the government is a bad idea. We really hope that Adler's resolution does not pass, and honestly I think that it may be time for him to move on from politics. Choosing centralized tokens owned by a private company for our city shows an inherent lack of judgement, and it looks like the pre-mentioned bitcoin candidate Mackenzie Kelly agrees with my sentiment