Canada Mayor Keeps It Real, Says ‘Bitcoin Transaction Fees Are Way Cheaper Than Credit Cards’
The mayor of the Canadian city of Innisfil, Lynn Dollin, has recently affirmed that deciding to use Bitcoin instead of credit cards for paying property taxes has made all the transaction costs decrease a lot. According to her, the main advantage is the price. Bitcoin transactions are simply way cheaper than their credit card counterparts.
Innisfil is currently the first town in the country that will allow the residents to use Bitcoin in order to pay for property taxes. This will initially be a pilot program that will last for a year. The pilot will be made in a partnership with Coinberry Pay, a crypto company based in Toronto.
This is part of a larger plan of the administration to turn the city into a major tech hub. The mayor is embracing this new crypto project as she wants entrepreneurs in the town to start getting more comfortable with this kind of technology. This, she believes, could attract some important investments for the community.
She has also affirmed that she is aware that BTC is involved in some scandals and that this is a nascent industry, but she believes that the trick is to be cautious when using this new asset.
According to her, the administration has developed a reputation for not being afraid of innovative and to try new things, so they need to be careful in order to be responsible with the money from the taxpayers but she believes that being more friendly to Bitcoin is not a big risk at all.
Other regions in North America are also moving to become more friendly with Bitcoin, especially in Canada and the United States. Colorado’s governor Jared Polis is a huge Bitcoin fan. He signed the Digital Token Act in March 2019 and exempted cryptos from following securities laws if they follow a number of conditions.
This new act will take effect in August and it is an important pro-Bitcoin law that will help to turn the state into a technology hub by making it easier for investors and entrepreneurs to start any industry that uses digital tokens there. In time, the government bets that this will have a major positive effect on the economy.
Bitcoin Adoption Is Slow But It Can Grow In The Future
Unfortunately, Bitcoin is currently being slow to really take off and start having a major adoption in the world. There are several reasons that explain why this is happening. For instance, BTC is still not user-friendly enough for many retail users, which can become an issue.
Another important reason why BTC is being still ignored is that it has a bad reputation. Several people in the mainstream media constantly bash it and call it a scam. The fact that many scammers use Bitcoin (as a currency or as a buzzword) is also contributing to why people are so ignorant about the benefits that Bitcoin and the other cryptos can bring to the world.
Even some people who are important crypto enthusiasts are currently aware that there is no easy to way to simply make Bitcoin become mainstream is there are many barriers that have to be overcome first.
The negative perception of the public about the asset, for instance, is very important in order to measure the chances for adoption. Jack Mallers, the creator of the Zap Lightning Network wallet, has affirmed that the world has a “mental barrier” against BTC, for instance. For him, the barrier has to be broken before they can understand BTC.
People see Bitcoin as not very useful and highly speculative. Sure, it can be used that way, but it is a very useful asset and they should be educated about it. Mallers also said that more regulation would also help Bitcoin because people would be able to have less uncertainty.
Education about Bitcoin, as well as initiatives that will make people use it, will be very important now if people want to understand how they can use Bitcoin to make their lives easier. Only then it will be really possible for Bitcoin to really be widely accepted.