With a inhabitants of some 67,000 individuals, sitting about 70 miles east of Memphis, there’s nothing notably cypherpunk concerning the metropolis of Jackson, Tennessee. However Mayor Scott Conger realizes that it may profit from embracing Bitcoin nonetheless, similar to some other metropolis on this planet.
“I’ve been considering Bitcoin for some time, nevertheless it’s been from a distance as a spectator,” Conger instructed Bitcoin Journal. “Up to now few months, I’ve gotten extra and I’m all the time in search of methods to make Jackson higher and to face out. I’ve began having conversations with individuals. The extra conversations I’ve, the extra I turn into.”
Conger obtained the eye of the Bitcoin world with a sequence of tweets this month. He put laser eyes on his profile picture, announced that he’s forming a “blockchain taskforce” for the city and noted the forthcoming, equitable industrial revolution that will be brought on by Bitcoin adoption. Particularly, Conger is exploring ways in which he can supply cryptocurrency-based payroll conversions for metropolis workers.
“We already supply our workers a deferred compensation alternative for his or her retirement,” Conger defined, evaluating the wealth safety potential of bitcoin to extra conventional types of financial savings. “These choices are nice, however we have to broaden our choices for our workers to make the most of dollar-cost averaging to extend and improve their portfolios.”
Bitcoin-based payroll companies can be novel, nevertheless it’s an possibility also being explored by Miami Mayor Francis Suarez. (Conger and Suarez have established one thing of a Bitcoin-forward mayor bromance.)
However Conger can be trying into the opportunity of mining bitcoin so as to add the asset to Jackson’s steadiness sheet. Presently, his crew is assessing the preliminary funding and vitality prices, however he appears optimistic concerning the potential.
“The advantages may very well be exponential,” Conger stated of a city-based bitcoin mining initiative. “We will doubtlessly get to some extent the place we’re not solely funding municipal tasks from mined cash, however we might additionally profit from our native vitality authority by mining in off-peak hours, which can enable them to plan and regulate the vitality output.”
Although Conger continues to be exploring the potential that Bitcoin can convey to Jackson’s municipal companies, he’s optimistic about ways in which the transformative know-how may help its residents. It’s one other indicator in simply how early we’re within the technique of hyperbitcoinization that his openness and optimism makes him a standout among the many nation’s legislators, a lot of whom are extra targeted on discovering causes to limit the usage of Bitcoin. Conger stated that he’s hoping for a bigger angle shift amongst these legislators quickly (whereas doubtlessly making a reference to “The Avengers” film franchise).
“I feel it’s straightforward to search out the 14,000,604 methods one thing received’t work,” he stated. “Leaders have to search out the way in which it should work. We will maintain on to the way in which it’s all the time been accomplished, or we are able to drive innovation. We’ve to be keen to embrace the longer term and create a imaginative and prescient on tips on how to get there.”