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According to a report published by the Daily Express this week, Eddie Hughes, a member of Parliament in the U.K., has proposed that cryptocurrencies be allowed to pay council taxes in the country. He also suggests that crypto should be used to pay household utility bills.
Already there are organizations in the UK that are accepting charitable donations in crypto. This seems to be the reason that has inspired Hughes to come up with the proposal.
“Only recently I met with the RNLI [Royal National Lifeboat Institution] which is now accepting charitable donations through cryptocurrency – if we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin?.”
Lack Of Knowledge Is Holding Back Crypto Adoption
According to the report, the MP believes lack of knowledge on the new technology is acting as a barrier towards the adoption of crypto and the blockchain.
“It needs to appear like an app that people will use so they can become familiar with it in a safe and secure way,”
He adds that the UK should be seen as a progressive country. However, for this to happen, the local authority has to set up a scheme that will enable tax payment in crypto.
Hughes has been optimistic about the blockchain and cryptocurrencies for some time now. In June of this year, he outlined some of the benefits of the blockchain technology while addressing questions raised by the prime minister during a session in parliament.
He noted that some countries had managed to save up to 2 percent of their gross domestic product using the technology.
The following month he released a paper on blockchain technology dubbed ‘Unlocking Blockchain: Embracing new technologies to drive efficiency and empower citizens.’ FREER published it as an initiative from the Institute of Economic Affairs meant to promote freedom in economy and society.
In the paper, he proposed some initiatives including the appointment of a public-facing chief blockchain officer and establishment of a blockchain based competition in the UK.
He also recommended a “blockchain departmental target.” It’s a long-term initiative for government departments to at least make 1 percent efficiency savings by embracing emerging technologies like the blockchain.