Malaya Ruiz
Detroit officials recently announced that residents will be able to pay taxes and city fees using cryptocurrency via a secure PayPal platform starting in mid-2025. This initiative positions Detroit as the largest U.S. city to accept crypto payments and aims to attract and retain tech startups in the Motor City.
The announcement on Thursday revealed that this new payment method is part of a broader strategy to adopt innovative technologies aimed at improving public services and boosting economic growth. This initiative simplifies transactions for Detroit residents and demonstrates the city’s commitment to attracting blockchain and tech entrepreneurs.
“Detroit is building a technology-friendly environment that empowers residents and entrepreneurs. We are excited to be one of the first major U.S. cities to explore blockchains civic applications and allow residents to use their cryptocurrency as a payment option,” Detroit Mayor Mike Duggan said.
According to Treasurer Nikhil Patel, the new payment platform will enhance accessibility for Detroiters interested in cryptocurrency and facilitate electronic payments for unbanked residents. As of May 2022, a city report showed that 30% of adults in metro Detroit were unbanked, often due to minimum balance issues, distrust of banks, and privacy concerns. Notably, these are challenges that cryptocurrency can potentially address.
Patel also pointed out that the Treasurer’s Office is focused on revamping payment channels and processes to enhance the user experience and streamline its operations.
In line with this initiative, the city is inviting blockchain innovators to present their civic application ideas to Justin Onwenu, the city’s first Director of Entrepreneurship and Economic Opportunity. Proposals must cover the solutions, stakeholders, costs, risks, and the potential benefits for city services and residents. Onwenu believes blockchain can enhance accessibility, efficiency, transparency, and security, and looks forward to insights from the industry.
Those who would like to pitch their ideas and proposals can send an email to [email protected] by December 15.
Detroit Pioneers City-Level Cryptocurrency Payment Adoption
In a response to an X post highlighting this development, Shytoshi Kusama, the pseudonymous lead of the Shiba Inu project, suggested that Detroit could be an ideal location for his new proposal to create a Strategic Hub for Innovation and Blockchain (S.H.I.B.) in a U.S. city.
Ironically, Detroit would probably be a great place for S.H.I.B. and could use the billions in revenue it would generate. I am sure the community can prepare something to submit 🙂
— Shytoshi Kusama™ (@ShytoshiKusama) November 8, 2024
In the U.S., a few cities are leading the charge in cryptocurrency adoption for payments. Williston, North Dakota, allows residents to settle utility bills using cryptocurrencies through a partnership with BitPay. Similarly, Miami Lakes, Florida, enables locals to pay for town services, such as permits and licenses, by leveraging PayPal’s cryptocurrency payment feature. Following Detroit’s plans to accept crypto payments for taxes and fees, it will emerge as the third U.S. city to join this movement.
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Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
