• Latest
  • Trending
City employees could see cryptocurrency payroll conversion options next year, first in nation

City employees could see cryptocurrency payroll conversion options next year, first in nation

December 20, 2021
Bitcoin Price Today Rises Near $48,000; Ether, Cardano Slightly Up, Know Crypto Rates

Bitcoin Price Today Rises Near $48,000; Ether, Cardano Slightly Up, Know Crypto Rates

January 5, 2022
BitYard Integrates 80+ Chainlink Price Feeds for Enhanced Price Accuracy and Stability – Press release Bitcoin News

BitYard Integrates 80+ Chainlink Price Feeds for Enhanced Price Accuracy and Stability – Press release Bitcoin News

December 20, 2021
Here’s what global CEO’s think about cryptocurrency

Millennial millionaires plan to make more cryptocurrency investments in 2022: Survey

December 20, 2021
Tesla Motors, Inc. (NASDAQ:TSLA), Dogecoin – United States Dollar (CRYPTO:$DOGE) – Elon Musk Says This Is How Much He Would Pay In Taxes This Year

Tesla Motors, Inc. (NASDAQ:TSLA), Dogecoin – United States Dollar (CRYPTO:$DOGE) – Elon Musk Says This Is How Much He Would Pay In Taxes This Year

December 20, 2021
Former Argentina President Calls Ethereum Most Innovative Technology

Former Argentina President Calls Ethereum Most Innovative Technology

December 20, 2021
DeFi protocol Grim Finance lost $30M in 5x reentrancy hack

DeFi protocol Grim Finance lost $30M in 5x reentrancy hack

December 20, 2021
Need to Explain #Litecoin at #Thanksgiving? – Latest Tweet by Litecoin

@LinkSemper – Latest Tweet by Litecoin

December 20, 2021
BREAKOUT COMNG SOON! – RIPPLE XRP PRICE PREDICTION! – RIPPLE XRP 2021 – RIPPLE ANALYSIS

BREAKOUT COMNG SOON! – RIPPLE XRP PRICE PREDICTION! – RIPPLE XRP 2021 – RIPPLE ANALYSIS

December 20, 2021
An LTC Move Back to $150 Should Support ETH and XRP

An LTC Move Back to $150 Should Support ETH and XRP

December 20, 2021
Avalanche eyes 60% rally as AVAX price breaks out of bull flag

Avalanche eyes 60% rally as AVAX price breaks out of bull flag

December 20, 2021
Travel Co Travala.com Accepts Bitcoin Payments

Travel Co Travala.com Accepts Bitcoin Payments

December 20, 2021
Puerto Rico plans to combat corruption with blockchain

Puerto Rico plans to combat corruption with blockchain

December 20, 2021
Whales Control 94% of All ADA Supply | Only 10% of Wealthiest Cardano Addresses

Whales Control 94% of All ADA Supply | Only 10% of Wealthiest Cardano Addresses

December 20, 2021
Breaking down Resistance at $48,500 Remains Key for the Bitcoin (BTC) Bulls

Breaking down Resistance at $48,500 Remains Key for the Bitcoin (BTC) Bulls

December 20, 2021
Bitcoin, Ethereum, Dogecoin Head Lower Heading Into Christmas Week: Analyst Says Traders Gravitating Toward These Coins Instead – Bitcoin – United States Dollar ($BTC)

Bitcoin, Ethereum, Dogecoin Head Lower Heading Into Christmas Week: Analyst Says Traders Gravitating Toward These Coins Instead – Bitcoin – United States Dollar ($BTC)

December 20, 2021
Tuesday, May 17, 2022
The Crypto Dirt
  • Home
  • Cryptocurrency
  • Blockchain
  • DeFi
  • NFT
  • Bitcoin
  • Ethereum
  • Altcoins
    • Cardano
    • XRP
    • Litecoin
    • Chainlink
  • Shit Coins
    • Dogecoin
  • Exchanges
No Result
View All Result
No Result
View All Result

City employees could see cryptocurrency payroll conversion options next year, first in nation

by TheCryptoDirt.com
December 20, 2021
in Cryptocurrency
0

[ad_1]

The Metropolis of Jackson will quickly be making historical past as the primary metropolis within the nation so as to add cryptocurrency as a payroll conversion choice for metropolis staff.

As reported back in May by the Jackson Sun, Jackson Metropolis Mayor Scott Conger has been working to include bitcoin into the town authorities, marking a primary for any metropolis authorities within the nation.

City of Jackson Mayor Scott Conger shares of Jackson's history and the influence it has had globally during Madison County’s 200th Birthday celebration on Saturday, Nov 13, 2021 at The Ned, in Jackson, Tenn.

Metropolis of Jackson Mayor Scott Conger shares of Jackson’s historical past and the affect it has had globally throughout Madison County’s 2 hundredth Birthday celebration on Saturday, Nov 13, 2021 at The Ned, in Jackson, Tenn.

“It’ll carry extra alternative,” Conger previously said. “It’s so refreshing to listen to governments discussing alternative ways to finance issues, apart from ‘we’re going to boost your property taxes,’ or ‘we’re going to implement this price.’ If we will discover one other technique to do it, then that’s what we’re going to do.

“We provide our staff a deferred compensation alternative for his or her retirement already. Why not add extra choices?”

Now, with plans in movement, a request for proposal (RFP) has been opened, which is able to permit third social gathering platforms to use to be the town’s cryptocurrency converter.

“The RFP is open!” Conger stated excitedly. “The twenty second is when the respondents have to answer the RFP. So as soon as the twenty second hits, we’ll open the bids, have the committee, after which they’ll overview it. They’ll in all probability make a suggestion to the council in February.”

The conversion choice will diversify methods metropolis staff can obtain cost, in keeping with Conger.

“It’s not one thing that’s going to be required,” he stated. “It’s another. Consider it such as you’re investing within the inventory market. What do you wish to do? You’re wish to diversify your investments. And that is simply one other technique to diversify the portfolio of how we generate income—doubtlessly all through the town.”

The third-party platform is required for the town to have the ability to host bitcoin choices.

Council members meet at December 2nd's agenda review meeting and discuss upcoming cryptocurrency options for city employees.

Council members meet at December 2nd’s agenda overview assembly and talk about upcoming cryptocurrency choices for metropolis staff.

“As a result of Tennessee state regulation doesn’t permit us as a metropolis to carry our personal steadiness sheet, we will’t pay in bitcoin, as a result of meaning we’d have to carry it to pay it,” Conger stated. “So that is basically us partnering with a third-party platform, which is like our deferred compensation now. So we’d pay our staff, and a part of it might be a payroll deduction which might go to the third social gathering, which they’d then—from a pre-determined quantity they’d labored out—open that pockets for them and buy bitcoin or one other cryptocurrency.”

The choice may also permit the town the pay contractors and firms in bitcoin, permitting the town to draw a wider vary of bidders.

“If we do have an organization or contractor that desires to receives a commission in bitcoin—then we will use that very same third-party, pay them in US {dollars}, they usually can convert it and pay it instantly,” he stated.

As mentioned in Might, bitcoin-based worker choices haven’t but been adopted in any native authorities within the U.S. In truth, only a few are even contemplating it apart from Conger and Miami Mayor Francis Suarez, with whom Conger has “opened up a dialog with.”

“It’s an enormous metropolis, is smart,” Conger stated of Miami. “They’ve a greater path of least resistance than Jackson does. However as I began easing extra (into the subject of cryptocurrency) and getting extra educated on it, I assumed ‘why not? Why not Jackson? Why can’t we do one thing that may off-set the present financial system that we now have?’”

Read more about Conger’s goals for cryptocurrency here.

Have a narrative to inform? Attain Angele Latham by e-mail at alatham@gannett.com, by cellphone at 731-343-5212, or comply with her on Twitter at @angele_latham.

This text initially appeared on Jackson Solar: City employees could see cryptocurrency payroll conversion options next year, says mayor

[ad_2]

Source link

YOU MAY ALSO LIKE

Millennial millionaires plan to make more cryptocurrency investments in 2022: Survey

Global Cryptocurrency (GCC) Down 0.5% Sunday: What’s Next?

Tags: CityconversionCryptocurrencyEmployeesNationOptionspayrollyear
ShareTweetShare

Search

No Result
View All Result
  • Privacy & Policy
  • About Us

© 2021 The Crypto Dirt  

No Result
View All Result
  • About Us
  • About Us
  • Attribution
  • Contact
  • Contact Us
  • Exchanges
  • Home
  • NFT
  • Privacy & Policy
  • Shit Coins

© 2021 The Crypto Dirt