Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee

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Posted July 22, 2021

 

Jackson City, the eighth-biggest city in the US state of Tennessee, intends to permit its residents to pay property tax in Bitcoin (BTC), according to Mayor Scott Conger.

Mayor Conger announced his ambition on Twitter by stating that:

“Our blockchain task force is looking into how the CityofJacksonTN can accept property tax payments in Bitcoin and allow our employees to DCA in Bitcoin.”

DCA is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset to reduce the impact of volatility on the overall purchase. Therefore, employees in Jackson will be able to make fewer Bitcoin purchases when the prices are high and more when the prices are low.

Conger created the city’s blockchain task force back in April, intending to encourage crypto usage. It comprised various experts in the blockchain/crypto space. The city’s blockchain task force was orchestrating this move.


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