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 November 22, 2021

 

The mayor of Jackson, Tennessee, on Wednesday said he’s committed to figuring out a method for the 70,000-person city to hold bitcoin as a currency, regardless of whether or not Tennessee or the federal government legislates it.

During a virtual discussion hosted by Route Fifty, Scott Conger, the mayor of Jackson since July 2019, described how during the COVID-19 pandemic he became enamored with the potential of bitcoin as a hedge against inflation and as an eventual alternative to the U.S. dollar.
Scott Conger (City of Jackson, Tennessee)

Doing his own research, Conger said, as well as connecting with Miami Mayor Francis Suarez — who recently announced he’ll make a digital wallet for every Miami resident, among other cryptocurrency-focused campaigns — allowed him to start wondering in earnest whether investing in bitcoin might solve his city’s financial woes.

“It made me start wondering: ‘What could happen?’” Conger said. “Jackson was the first city in the state to get fiber gig internet to the home. Why can’t we continue to lead the way in those technology advances?”

 

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