A tax collector in Florida has introduced nowadays that his workplace will begin accepting bitcoin and bitcoin cash through charge processor BitPay starting this summer time, making it the primary U.S. govt agency to do so.
with the intention to pay taxes with a debit or credit card, the use of a third-celebration processor has been required, which often incurs high costs. Yet for Joel Greenberg, Seminole County Tax Collector, the use of the blockchain makes it possible for the tax collector to eradicate a lot of these charges, concurrently improving charge accuracy, efficiency, and transparency for Seminole County tax payers.
“We reside in a world where expertise has made access to capabilities on demand, with identical-day delivery and the expectation of highly productive client carrier and we may still expect the equal from our executive,” Greenberg said in an announcement. “The aim of my tenure in office is to make our client adventure faster, smarter, and more efficient, and to carry government functions from the 18th century into the 21st century and one way is the addition of cryptocurrency to our payment alternatives.”
Greenberg, who became elected Tax Collector in November 2016, took workplace in January 2017. for the reason that then he has directed his office to introduce new applied sciences similar to artificial intelligence, the adoption of the blockchain know-how, and different improvements all through his team.
Now, in an extra bid to serve the residents of Seminole County, Greenberg’s office can be the usage of BitPay, the largest international blockchain payments issuer. headquartered in 2011, the corporation permits businesses to ship and receive move-border payments. It also offers a platform for consumers to manipulate their digital property by way of its BitPay pockets. In April, it changed into said that the payments processor had closed its sequence B funding round with a complete funding of $ 40 million, bringing the entire capital raised for BitPay to $ 70 million seeing that its founding.
as the first U.S. executive agency to make use of a blockchain platform it’ll allow the Seminole County Tax Collector to settle for bitcoin and bitcoin money for capabilities similar to driver licenses, property tax, identity card costs, and tags and titles. via BitPay, Greenberg’s office will acquire contract right here business day, which should be directed into its bank account in U.S. dollars. according to the announcement, there is no risk or cost volatility to the Florida County.
by using sending the exact volume of bitcoin or bitcoin cash required to pay the bill it eliminates credit card fraud and identification theft risks that are general with credit card transactions. additionally, in comparison to the high prices associated with credit cards, BitPay expenses one p.c to approve the bitcoin or bitcoin cash transaction and agreement. by enabling transactions via a pc or cell machine BitPay is ensuring that the procedure is handy and effortless for Seminole County residents.
“BitPay changed into started as a result of we recognized the skills for blockchain to revolutionise the monetary industry, making funds quicker, greater cozy, and cheaper on a world scale,” spoke of Jeremie Beaudry, head of compliance at BitPay. “With the Seminole County Tax Collector’s office, we now have engaged our first government agency to settle for bitcoin and bitcoin cash by making it handy and seamless for them.”
In October, Tony Gallippi, co-founder and government chairman at BitPay, said that ATM fees in Las Vegas have been getting out of control, charging users essentially $ 125 in transaction charges for withdrawals with debit playing cards.