The city of Rio de Janeiro authorized the accreditation of companies that will use cryptocurrencies to carry out property tax payment operations in 2023.
According to the municipal administration, Rio becomes the first city in Brazil to offer taxpayers this means of payment of a tribute, which will not be limited to a single digital currency. The decree, published on October 11 in the Official Gazette of the Municipality, indicates that the mayor’s office will hire companies specialized in converting crypto assets to BRL. With the measure, the municipality will receive 100% of the value in local currency, at no additional cost to the capital.
Why did Rio de Janeiro adopt this practice?
First of all, it is worth mentioning that it was an excellent attitude from the city of Rio de Janeiro. This had Miami as a reference, which decided to pay attention to this sector of the economy, a sector that tends to grow a lot in the coming years. Rio is a beach place and it was also on a surfer’s beach that the first community project with an economy based on Bitcoin was created: Bitcoin Beach, in El Salvador.
Latin America in general has given positive signs to cryptocurrencies. Therefore, already having this reference and understanding that the crypto market has been growing more and more, Rio understood that this alternative should arrive at some point. Other cities will inevitably have to follow his example.
Creating new coins and tokens is very useful and will go a long way. The addition of new blockchain technologies and increased cyber security, which allows anyone to create reliable money free from hacking, will provide many opportunities for the advancement of the alternative economy and greatly improve the economic situation of the entire world. planet. That’s why the invention of Bitcoin and its derivative technologies have attracted so much attention in the last 10 years and it’s really something with strong global potential, something fantastic.
As markets become increasingly dynamic, in large part due to technological advances, it is possible to sell an infinite number of things through the Internet, such as software, photos, projects and services of various kinds, such as classes, courses and intimate content, all of this, no matter where people are. It doesn’t matter if one is in Indonesia and the other is in Nigeria or Turkey. If the person wants to buy your product, managed to contact you and this product can be sold online, the product or service will be delivered and the payment will be made in the currency that is most efficient to settle the transaction.
What changes this in the general population?
All the concept of work that we currently have. Many people already work on the internet, trying to be more informal, have flexibility and consequently a better quality of life. And this new method of working is on the rise.
The most frequent desire in our current society is not to have to work anymore. But you do have a lot of money. And the closest thing to that is being able to work from home, without having to go through selective processes many times, dress code, schedules, among others.
Therefore, it is on the Internet where people, especially the youngest who are now entering the labor market and already projecting a future, must choose and qualify for the new work modalities promoted by the World Wide Web and its new technologies.
Cryptocurrencies are the grease of this new gear, that is, a fluid that allows the process to happen naturally. For example, I sell software online, the person pays me online, on the internet everything happens and is resolved. It is fast, practical, safe and without bureaucracy. People just need to lose their fear and acquire certain skills to carry out these transactions through the Internet, as happened with electronic commerce and the use of credit cards online.
Getting used to the self-management that remote work requires is also a key factor in participating in this new world. It is this type of influence that the adoption and acceptance of governments and municipalities is expected to bring to the populations of Rio and other crypto-friendly cities.
By Fabiano Dias is an international business developer for Bitwage. He has been working with cryptocurrencies since 2015. He participated as a speaker at various international events.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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