Bitpay enables tax payments with bitcoins and bitcoin cash
May 16, 2018 Posted / 96 Views
Bitpay one of the popular crypto payment processor has recently announced that they have come up with a formal agreement with Joel M. Greenberg the collector of Florida's Seminole Tax that now bitcoin and bitcoin tax can both be used for tax payments for the beginning of the summer. As the residents of the country can pay their ID cards driving license card and their property tax by using cryptos.
As explained by Greenberg “we live in a world where technology has made access to service on demand with same day delivery and expectation of highly efficient customer service and we should expect the same from the government. This aim to my tenure in office is to make our customer experience faster smarter and more effective and to bring government services from the 18th century to 21st century and one way is the addition of cryptocurrency to our payment options.”
A cryptocurrency is a technological tool that can be used in both ways with can do good or can do bad it depends on its usage. It can be used for ill practices such as terrorism but at the same time it can be used for housing gateways and for paying taxes and we know that the government has become immune the technological inventions. The taxes can be paid in the form of credit or debit as it involves heavy cut as it involves processors.
As stated by the Head of compliance at Bitpay, Jeremie Beaudry
“ bitpay is syatred because we recognize the potential for blockchain to revolutionize the financial industry making faster payments, more secure and less expensive on a global scale. With the Seminole country tax collector office, we have engaged our first government agency to accept bitcoin cash and making it seamless for them.”
As now the bitpay and Seminole country have joined their hands so it has allowed bitcoin cash and bitcoin core for almost involving in everything such as license property tax and more.
Collecting tax in the form of bitcoins has reduced the risk of various kinds of frauds such as credit card fraud and iD card which were happening in the traditional methods.
The main objective of starting Bitpay because it was able to recognize the potential of the blockchain in the financial industry which will people to do transactions at a faster pace and will involve less cost globally, and will be transparency in the transactions and accuracy in the transactions and will provide Seminole taxpayers with various benefits and there will less usage of the traditional methods of transactions and will lead to the advancement of the technology and would lead to a revolution, will also provide with great experience to the residents of Seminole.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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