Canadian town to use bitcoin for property taxes

 

Bitcoin

 

Coinberry, Canada’s most prominent crypto solution provider is one of the nation’s top crypto venture. Among other things, the Canadian company is one of the top blockchain projects vulgarizing blockchain technology throughout Canada.

As per a recent report, Coinberry has struck a deal with a Canadian town to provide bitcoins to be used as property taxes.

Coinberry has entered in partnership with the town of Richmond Hill in Toronto. The municipality will now rely on the firm’s unique crypto solution.

In the past 6 months alone, it has been Coinbery second municipal partnership. Before the town of Richmond Hill, the Canadian Fintech company had first partnered with the town of Innisfil, located in Ontario.

Joe Di Paola, Richmond Hill Deputy Mayor firmly believes that:

“We believe that the demand for a digital currency payment option is only going to grow in the coming years, especially amongst millennials”

He further explained:

 Our Council was aware of Coinberry’s successful implementation of a digital currency payment service with the Town of Innisfil, and since there was no cost and no risk to the City of Richmond Hill to do the same, it made the decision that much easier for us.

Furthermore, Coinbery’s formula is to convert several digital currencies into Canadian dollars to pay for the property taxes within their partner cities; in this case Richmond Hill and Innisfil.

“We are very happy to be entering into a partnership with our second Canadian Municipality,”     

Andrei Poliakov, Coinberry CEO and Co-Founder approved the initiative. He added:

Leaders of government and enterprise organizations are realizing that, with the right partners, they can innovate with blockchain and digital currencies. We’re pleased to be working on additional innovative solutions with leading enterprise and municipal partners, and have a number of very exciting initiatives we will be announcing over the next several months.

Similarly, the U.S state of Ohio became the very first state to allow businesses to pay taxes using bitcoin. Now, one can pay more than 23 different taxes as specified by the Ohio treasury office using bitcoin.

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Henry-Claude Madiba

Renewable energy engineer in training. I am only interested in two things, blockchain technology and contributing to making the world a livable place for the next generations.

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