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Buenos Aires Mayor seeks to allow citizens to pay tax in Cryptocurrencies

Buenos Aires Mayor seeks to allow citizens to pay tax in Cryptocurrencies 4

Buenos Aires Mayor Horacio Rodríguez Larreta proposes ways to use Cryptocurrencies & Blockchain technology to bring modernization to the city based services.

Crypto & Blockchain adoption surging rapidly because of its actual potential to bring modernization to the existing traditional financial systems. In the present time, adoption is no more limited to private companies and businesses but also many government agencies are considering using decentralized technology in their ways at their level.

On 26 April, Horacio Rodriguez Larreta, Buenos Aires Mayor, proposed his ideology through a virtual presentation to allow the citizens to pay taxes in digital assets like Bitcoin, Ethereum, etc. 

Right now, the Mayor proposes 12 plans, which include Blockchain-based decentralized technology use cases to ensure the safety of the details & identity data of residents. This is dubbed Buenos Aires+, which aims to bring modernization in the public services with the use of high-tech blockchain technology. 

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During the presentation, Rodriguez Larreta said that residents should own their information and documents, which will be possible with the decentralized technology use case. 

“We have a clear conviction that citizens must own their information, their documents because we trust in their capacity and they have the responsibility to do so..(..).All this data flow, which is going to increase exponentially, is going to be protected by blockchain technology, the second transformation.”

On 10 March, A draft was released on behalf of Rodriguez Larreta’s plan to modernize public services. 

On 26 April, on Twitter, Rodriguez Larreta raised support for this proposal, where he wrote that with Blockchain technology use, we can store documents and data in one place with security.

He also noted that to avoid any kind of volatility-based risks, the municipality will not hold any cryptocurrency but still it will remain under collaboration with several wallets and payment processors to convert digital assets-based payments into fiat money (Argentine peso).

Read also: Changing market situations may result in a new crypto bull run, says former Goldman Sachs Exec

Buenos Aires Mayor seeks to allow citizens to pay tax in Cryptocurrencies





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