tl;dr
The state of Louisiana has announced a collaboration with Envoc and Bead Pay to enable payments for state services using crypto assets. Residents can use digital assets and crypto wallets to pay for services starting in early September. Transactions will allow real-time conversion of crypto to US do...
Louisiana Government Partners with Envoc and Bead Pay to Enable Crypto Payments for State Services
- Residents can use digital assets and crypto wallets, with real-time conversion to US dollars
- Accepted digital assets include Bitcoin, Bitcoin Lightning, and USDC stablecoin
- Initiative aims to provide flexibility, freedom, and protection from crypto volatility in government transactions
- Department of Wildfire and Fisheries to be the first agency to implement the crypto payments system
The state of Louisiana has announced a collaboration with Envoc and Bead Pay to enable payments for state services using crypto assets. Residents can use digital assets and crypto wallets to pay for services starting in early September. Transactions will allow real-time conversion of crypto to US dollars to address price volatility concerns. Accepted digital assets include Bitcoin, Bitcoin Lightning, and USDC stablecoin. The initiative aims to provide flexibility and protect the state from cryptocurrency volatility. The Department of Wildfire and Fisheries will be the first agency to implement the crypto payments system.
The Southern Coastal US state of Louisiana is announcing that its services can now be paid for with crypto assets. According to a new press release, the government of Louisiana is collaborating with software firm Envoc and crypto payments platform Bead Pay to revolutionize how payments are made for the state’s services. Residents of Louisiana can now start using digital assets and crypto wallets to pay for state services starting in early September, though no specific date was given. The project allows citizens to convert crypto to US dollars in real-time in order to address concerns about the price volatility of digital assets as the government would receive payments in fiat currency. Furthermore, transactions would be faster, more secure, and flexible. According to Louisiana Treasurer John Fleming, the digital assets that will be accepted include the top crypto asset by market cap Bitcoin (BTC), Bitcoin Lightning, and prominent stablecoin USDC. Says Fleming, “In today’s digital age, government systems must evolve and embrace new technologies. By introducing cryptocurrency as a payment option, we’re not just innovating; we’re providing our citizens with flexibility and freedom in interacting with state services. Additionally, this unique innovation protects our state from any volatility associated with cryptocurrency.”
The first agency within the state scheduled to implement the crypto payments system will be the Department of Wildfire and Fisheries. According to Fleming, the first payment to the department has already been made.
More about Masco Corporation
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Masco Corporation is a manufacturer of products for the home improvement and new home construction markets.
Sector: Manufacturing
Industry: Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
Market Cap: 17.83B
P/E Ratio: 19.97
EPS: 1.155
ROE: 4.09%
52-Week High: 35.49
52-Week Low: 0.116
Revenue: 7.878B
Operating Margin: 8.26%
Dividend: 0.009
Beta: -0.017
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