Civil servants are to be paid with Bitcoin in future

In this major American city, civil servants are to be paid with Bitcoin in future

In Miami in the US state of Florida, there is an extremely Bitcoin-savvy city leader in Mayor Francis Suarez. He now confided his ambitions to Forbes magazine.

In a conversation with the US business magazine Forbes, Miami Mayor Francis Suarez has provided an insight into his political ambitions. These concern the technology sector and also cryptocurrencies in particular. After all, Suarez is convinced that Bitcoin will be the „biggest story of the next few years“.

There are three approaches that Francis Suarez is pursuing in Miami that testify to his high Bitcoin affinity. The administration is considering letting city employees choose whether they want to be paid their salary in Bitcoin. Furthermore, citizens will be offered to pay local fees and taxes in Bitcoin or another Italian Formula cryptocurrency. Third, the city treasury plans to invest part of its investment capital in Bitcoin, which would be a first for major cities in the United States (and possibly even worldwide).

However, Suarez did not give a specific amount of money that Miami plans to invest. He did, however, say that he is looking for a public-private partnership. This would have the advantage for the private partner that it would receive part of the reward for taking on the risk from the public side.

Miami wants to take Wyoming as an example

Suarez is well aware of this risk, as he openly admits. Miami’s city treasury, for example, does not hold any commodities, but relies almost exclusively on cash. This makes his investment intentions all the more remarkable. So it is obvious that Suarez has been involved with the Bitcoin ecosystem for some time. He is no stranger to the scene: He has already appeared at Bitcoin events and also wants to bring the Bitcoin 2021 Conference to Miami.

Miami’s mayor also looks beyond his city and follows what is happening in other US states. One of his goals is to bring Wyoming-style crypto laws to Florida. He has already turned to Wall Street veteran and crypto expert Caitlin Long to do so. She was a member of the Wyoming Blockchain Task Force. Suarez also brought Florida’s Secretary of Finance, Jimmy Patronis, on board. Together, they plan to introduce a bill in the state legislature that would bring Wyoming-style bitcoin regulations to Florida. So the mayor of Miami is certainly not among those who underestimate the potential of cryptocurrencies.