Crypto-technology slowly moves into cities!

When it comes to Blockchain enthusiasts, most of them would prefer that the technology behind crypto slowly diversify into the mainstream economy. The biggest difficulty in introducing crypto-currency into the mainstream is mainly dependent on its adaptability in the mainstream economy. 

The stream is hot

There are a lot of products that are based on the blockchain technology and most of them are slowly emerging successfully as the community is slowly starting to accept the fact that the products are really flexible.

The new foundation

The culture is spreading slowly that many small countries and places have a great approach to Blockchain technology. One of the countries similar in the list is the small swiss community of Zermatt that has announced to the world that it would be accepting tax payments in Bitcoin. 

There were a lot of discussions on the same regarding the feasibility of such a system into an already complicated tax system, but the town mayor of Zermatt cleared the doubts in the skies explaining how they are going to actually implement the process.

Zermatt is a small community town with a rough population of around 6000. The community town is planning on implementing tax collection with the help of Bitcoin Suisse-point of sale technology. The process is simple, the taxpayers have to substitute money with Bitcoin. People can go online by paying their taxes and the tax-payers have to register themselves with the town’s local tax office to notify them that they are using the crypto method to pay their taxes.

Taxes that are collected in terms of Bitcoin are stored in the digital vaults and are slowly converted into swiss-francs. The amount that gets converted will be directed to the town’s repository in the Municipality bank. 

The mayor of the Zermatt town, Romy Biner-Hauser said that the recent move by the community is a clear indication that the town is all set to test out its performance in the local economy. He also said that the move would prove extremely benefit the economic condition of the locals of Zermatt. He also added that if the technology is proved successful, the town would open paths to more development in the Blockchain technology leading to more innovative ways of developing the town’s status. 

The success of the tax-collection procedure is a really fool-proof plan and if it were to emerge successfully, it would set as an example for many small towns to pursue the same path.