Price on Carbon | July 19, 2021

Is crypto the future of money

“Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world is of enormous value. ~Eric Schmidt/ Software Engineer

Americans can pay their bill with micro currencies in the city of Williston; North Dakota now accepts micro currencies as payment. The city’s finance director, Hercules Cummings, said we do embrace these technological changes. We want to be a leader and position ourselves to be at the forefront of this emerging technology. They’ve partnered with BitPay, the micro currency firm that will handle the money conversion. 

BitPay has processed over $500M in micro currencies transactions for domestic and foreign companies, universities, artists, local merchants, and even criminals. The city of Williston is now only the latest location to join the ranks of cities that accept micro currencies. Bitcoin is now becoming a suitable method for online trade as more and more merchants accept it.

Will Cryptocurrency be the future of currency?

Micro currencies are tiny money units used in many places of the country, most notably Houston. It accepts them to purchase gas, groceries, and goods in a few places around the city. Houston is an American city founded in 1876 and now has a population of 6.2 million people. They have had a high rate of cryptocurrency adoption, with many companies and banks already starting to take this form of currency as payment. Merchants are beginning to accept them for the first time as real money. 

 The city of Williston has given the official green light and has begun to set up a system to use them within local businesses. Could this be the new way of paying bills at the post office to pay for stamps or money orders and parking tickets? Could this be a way to make a fast, first-time loan to people in your city?

Williston, North Dakota, is the state’s newest municipality, with about 200 people since 2008. The state residents can deposit their micro currency at their bank and pay a bill with no more than a few clicks of their mouse. The city’s residents can use their checking account, credit cards, and electronic payments to pay utility bills. They can also use cryptocurrency to buy groceries and other items at the city’s grocery stores. This is becoming the new way of doing things.

The future of money is digital?

Digital currencies are transforming the future of exchange in Williston. North Dakota, which is now the seventh municipality to accept micro currencies,  joins small American towns, cities in Mexico, and India that now accept micro currencies. This rise in the acceptance of these currencies is attributed to the fact that they’re entirely electronic. That makes it impossible to confiscate them. It also means merchants don’t have to carry vast amounts of cash and deal with high-risk fraud.

Bitcoin and other cryptocurrencies like it will be the future of money. One of the best ways to get used to micro currencies is to use them to pay for daily household items. The city offers tips for people who use them to pay for services or bills at businesses and organizations, making them easy to accept, readily available, and easy to get. People who do not use it to pay city bills and services are in danger of getting left behind. If they do not use it in daily life, they may not become accustomed to it. 

It had been possible to pay for city bills and city services in copper coins produced at the end of the Roman empire, with this currency being worth about 50 cents. This copper currency could be used for city services, providing the city with a way to get a financial benefit for services and bills. But this monetary system did not provide quick conversion from the copper coins to the local money units. There was a time lag of more than a year. It is a problem that still exists for those cities that are not innovative when it comes to creating a practical sound system for city services in which many people have to learn now how to use. This is the reason for having the universal billing service and the city billing online. People can use them if they are accustomed to the process. But they would have to use their city accounts when they pay city bills and city services.

With Cryptocurrency not being a financial fad, Williston is now the latest North Dakota town to provide residents with free Internet access. A city-run network of fiber optic cables throughout the city. The mayor called it a “virtual fiber grid” connecting the citizens to the world wide web. He added, “This is a virtual utopia.” Williston residents are being offered everything from business and accounting software to online real estate investing programs and a bitcoin broker. One resident described it as a virtual treasure map.

What does the future hold for cryptocurrencies?

What most residents seem to be excited about is the possibility of spending their microcurrency at many local businesses. That includes McDonald’s and other big chain businesses. There are lots of small restaurants that accept the currency too. Williston also offers online trading services for residents who want to buy or sell their micro coins with other residents. These are exciting times for Williston residents.

We hope you will find this information on Williston, ND, USA, helpful. All the best to you in your cryptocurrency investments. 

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Chief Storyteller;

Michael T. Thomas