According to a report on 19th December 2021 by Jackson News, the City of Jackson, Tennessee, United States is set to become the first city to add Bitcoin (BTC) as a payroll conversion option for the city’s employees.
The city mayor Scott Conger has been pushing for Bitcoin (BTC) to be added as an option for paying city employees and now has a motion to actualize it, according to the report.
Conger is convinced that the conversion option will diversify the ways city employees can receive payment, as well as allow the city to pay contractors and companies in Bitcoin to attract a wider range of bidders.
Jackson City Opens Request for Proposal
As a step towards starting the process of adding Bitcoin as a payment conversion option, a request for proposal (RFP) has been opened. This will allow third-party platforms to apply to be the city’s cryptocurrency converter.
Scott Conger noted:
“The RFP is open! The 22nd (December) is when the respondents have to respond to the RFP. So once the 22nd hits, we’ll open the bids, have the committee, and then they’ll review it. They’ll probably make a recommendation to the council in February.”
As soon as a contractor is approved, the city will pay them in U.S Dollars for the number of employees who wish to be paid in BTC. The company will then convert the payment and send Bitcoin to the interested employees. If all goes well, employees could start getting payments in Bitcoin as early as next year.
Conger believes this will not only bring more opportunities to the city but will also help employees diversify their investments.