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Ohio Goes Crypto

Ohio Goes Crypto

When someone thinks about locations full of technological advancement or new adoption of emerging technologies, one might not immediately think of the state of Ohio. California, sure, that state is often associated with new-adopters. But, in a bold move, the Ohio State Treasurer, Josh Mandel, is pushing for more use of cryptocurrency. Starting with business taxes, Ohio is moving to allow companies to pay with Bitcoin and hopes to expand to not only individuals having the same opportunity but also other cryptocurrencies becoming viable options.

The decision makes a lot of sense. Fraud is nigh-impossible because of the blockchain. If all parties have the technology for it set up, it’s a much more effective way to deal with business taxes overall.

But, besides smart choices in taxation, this is part of a move to make Ohio a center of technology among the states. Cleveland, for instance, contains a new initiative, called Blockland, that’s wanting to change the entire local economy to one based around cryptocurrency. For those interested in how crypto is affecting the world in various places, and, for those excited to see what a concentrated government effort to incorporate it might cause, keep an eye on Ohio. It might just become what it set out to be: a very important player in America’s future.

By Brandon Scott

By |2018-12-04T22:37:33+00:00December 4th, 2018|DFN COLUMNIST|0 Comments

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