Government should allow Bitcoin payments, says Florida Governor

The member of the Republican party and Florida Governor shared his proposal to allow digital assets-based payment options for the business in Florida. 

In the present time, Central Bank Digital Currency (CBDCs) development is still in the initial phase, so in this situation, we can adapt the blockchain technology-based crypto assets, which have better efficiency in terms of payment and speed. But the existing rules in the countries are not able to allow these kinds of things because of traditional monetary policies. 

The member of the Republican party and Florida Governor – Ron DeSantis- proposed an idea for the Government of Florida to bring a new rule to allow all the businesses in Florida to use crypto assets like Bitcoin in payment purposes. 

Ron also asserted that there should be a better push to use blockchain technology. For example, we can use it to monitor motor vehicle records as well as validate Medicaid settlements.

The proposed idea of Ron will be represented in the 2022-23 budget session. 

In This proposal, Ron said that the Government should distribute around $250,000 in the industry of blockchain-based development works like the Pilot Program within the Department of Highway Safety and Motor Vehicles. 

Further, he added through the proposal that the government should integrate the blockchain technology in the Health Care Administration, to detect potential fraud and verify Medicaid transactions. 

This purposal of Ron suggested that there should be a total of $700,000 funds to distribute in the crypto and blockchain industry to push the use cases to the next level. 

Ron also stated that “This is something that we welcome, and we want to make sure that the state government is crypto-friendly.”

According to many experts, this idea of the Florida Governor is much similar to the purpose crypto regulation bill of Paraguay and a few other countries, which are working to make a framework to use crypto assets for payment purposes with the restriction of not to use crypto as legal tender. 

Read also: Fundraising platform Kickstarter’s Blockchain initiative facing huge backslash