Residents of Detroit will soon have the option to pay taxes and other city fees using cryptocurrency through a secure platform managed by PayPal, city officials announced today. This will make Detroit the largest city in the US to accept cryptocurrency payments.
This innovative payment option is part of the city's broader strategy to explore advanced technologies that can enhance public services, increase community engagement, and drive economic growth. This initiative not only makes it easier for Detroit residents to transact with the city, but also demonstrates Detroit's commitment to welcoming blockchain and tech entrepreneurs who want to contribute to the city.
"Detroit is building a tech-friendly environment to empower residents and entrepreneurs," said Detroit Mayor Mike Duggan. "We are excited to be one of the first major cities in the US to explore blockchain applications in government and allow residents to use cryptocurrency as a payment method."
This payment option will be available in mid-2025 along with other improvements to the city's payment services, according to Treasurer Nikhil Patel.
"The Treasurer's Office is committed to modernizing our payment channels and processes to enhance customer experience and improve internal efficiency," Patel said. "This new payment platform will increase accessibility for Detroit residents who want to use cryptocurrency; more importantly, the platform upgrade will also make it easier for Detroiters to make electronic payments - including those who may not have a bank account."
In addition to the cryptocurrency payment option, the city of Detroit is inviting blockchain entrepreneurs and innovators to pitch their ideas to Justin Onwenu, the city's first Director of Entrepreneurship and Economic Opportunity. Through this blockchain idea call, the city is particularly interested in projects that can leverage the potential of blockchain to enhance transparency, improve data security, and optimize public services.
Blockchain entrepreneurs and innovators are invited to submit proposals to pitchdetroit@detroitmi.gov by December 15, 2024. Proposals should include a description of the proposed solutions, potential stakeholders, costs, risks, and how their idea will improve city services and benefit city residents.
"This announcement reflects our openness to new ideas and our commitment to making Detroit an ideal place for entrepreneurs and bold ideas to thrive," said Justin Onwenu, Director of Entrepreneurship and Economic Opportunity for the City of Detroit. "Blockchain technology has the potential to bring greater accessibility, efficiency, transparency, and security, and we look forward to hearing from pioneering entrepreneurs in this space."
