- Louisiana State Treasurer John Fleming announced that they will integrate Bitcoin as a payment
- This aims to modernize Louisiana’s state agencies and services public operations, using Bead Pay
- The first payment has already been made to the Louisiana Department of Wildlife and Fisheries
Louisiana State Treasurer John Fleming announced on Tuesday that the state will accept cryptocurrency as a form of payment for state services and agencies.
To do so, state agencies will integrate crypto payment functionality using Bead Pay to accept Bitcoin and convert it with the U.S. dollar on their side.
Republican Rep. Mark Wright of Covington also commented, mentioning that he has been advocating for this feature throughout his career.
Secretary Madison Sheehan of the Louisiana Department of Wildlife and Fisheries, also gave her optimistic comment after the historic first crypto payment this Tuesday.
Details on Louisiana and Bitcoin Adaptation
A press release from Fleming’s office indicates that Louisiana residents will now be able to use Bitcoin to pay for government services and agencies, which will only grow in number. Fleming’s office commented:
“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 government services. Additionally, this unique innovation protects our state from any volatility associated with cryptocurrency.”
Republican Representative Mark Wright of Covington also commented:
“I have been proud to author several bills related to digital assets and to Chair the State Treasurer’s task force in 2022. I’m excited to see Louisiana further expanding its payment options under Treasurer Fleming. I look forward to working with him and others so that Louisiana will continue to be a leader in accepting digital payments.”
They will not have to install special apps to do so, as they will be able to make transactions securely from their private wallets.
Once the payment is received, it will be automatically converted into US dollars and sent to government accounts.
This kind of integration is made possible thanks to Bead Pay, the remaining cryptocurrency payment conversion provider specializing in cryptocurrency payments, and integration partners from Louisiana.
Jay Sykes, Chief Executive Officer of Bead Pay, said:
“As one of the pioneers in the realm of cryptocurrency transactions, our role is to ensure these payments are not only efficient but also secure. We’re focused on removing the traditional barriers associated with cryptocurrency, such as volatility and fraud risks, making it a reliable option for government transactions.”
What’s more, the first such historic payment was already made Tuesday, and Secretary Madison Sheahan of the Louisiana Department of Wildlife and Fisheries said:
“This is another step towards our goal of creating a modern and professional organization that better serves the sportsmen of the state.”
Conclusion
Even before the US election 2024 results and crypto adaptation decisions from the winner, local authorities are already making decisions about crypto, one could say ahead of the general policy.
This shows once again how a decentralized approach and related technology can be integrated into everyday operations without delay and improve services for ordinary citizens.
Let’s see if other states follow a similar example, stay tuned.
