Business 11 December 2018Dennis Wafula
British MP wants local tax paid in crypto
Citizens might soon be paying for their local taxes and utility bills using Bitcoin and other cryptocurrencies. A member of the British Parliament, Eddie Hughes, a conservative MP for the Walsall North constituency, wants residents in the United Kingdom to be able to pay their local taxes and utility bills using crypto.
According to reports, Hughes believes it is high time other members of Parliament to familiarize themselves with cryptocurrencies and blockchain technology, as they are not going away. Since its launch in 2009, Bitcoin has brought about a lot of hype that resulted in significant adoption across the globe. The crypto community is growing fast, and Hughes wants the government to be part of this growth.
The 50-year-old lawmaker noted that some key players in the country have adopted crypto use. He gave an example of the British charity RNLI (Royal National Lifeboat Institution) who recently started accepting cryptocurrency donations. Hughes stated that if people can donate to the organization using cryptocurrencies, then the government could create a system to allow payments of council taxes and other bills using cryptos too.
Hughes’ suggestion comes two weeks after Ohio became the first state in America to allow businesses to make tax payments using cryptocurrency. The government in Ohio has collaborated with BitPay to manage the payment in crypto and conversion to dollars. Josh Mandel, Ohio’s Republican state treasurer, proposed the idea. Mandel is reportedly a cryptocurrency fan who describes it as “a legitimate form of currency.”
While commentating on the matter, Mandel stated that he proposed the idea because he wanted Ohio to become a leading state in the U.S. crypto market.
Hughes is following in Mandel’s footsteps and wants the UK to “plant a flag” and take the lead by demonstrating how similar projects could work in the region. He added that the country is at a crossroads to determine their future. He believes taking the lead on blockchain, and its technologies could prove beneficial to the country at large.
In his view, Hughes believes people should start taking actions to understand cryptocurrencies to facilitate faster adoption. He concludes by adding that if people realize how blockchain and digital currencies work, they will embrace them.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Business 1 hour ago
UPS invests in blockchain e-commerce startup
Logistics giant United Parcel Service (UPS) has acquired a stake in blockchain-powered e-commerce platform Inxeption Corporation.
Business 17 January 2019
Crypto in Africa: South Africa gets new crypto mobile app and manifesto
The year has been quite active for the crypto community in Africa. More start-ups continue to emerge, and politicians are taking up these new technologies.
Business 17 January 2019
Binance launched a new fiat to crypto platform in Jersey
Binance has launched a new fiat cryptocurrency exchange, Binance Jersey, which will allow users to exchange cryptocurrencies against GBP and EUR.