Growing adoption in finance and increased visibility and functionality have pushed an American city to not only openly embrace crypto, but to begin pioneering a first in creating a municipal DAO complete with its own tokens to digitize the ownership of famous artwork on the Tezos blockchain.
With the news circulating about the forward thinking politics of Nevada in cryptocurrency, it is no surprise that the "World's Biggest Little City" would decide to jump into the spotlight.
As reported by Cointelegraph.com, Mayor Hillary Schieve announced yesterday that the City of Reno, Nevada has not only adopted with open arms the technology of cryptocurrency and smart contracts, but has also begun the process of building the framework for its use in her city. The Mayor sat down with Tezos Commons to shed a little light on the direction she has decided to take.
In searching for a blockchain that would not only serve the city's purposes now, but also maintain functionality as it continues to scale and grow alongside the potential needs of Reno, the desire to adopt a forward thinking mindset will be key to keeping in line with the rapid changes the world is already experiencing. Although the barriers to entry exist as adoption is growing, according to Schieve finding case-use for everyday life is very possible. "There are really easy ways to get my community to start using cryptocurrency to pay for things like sewer payments," she said.
For now, the city will begin the transition to blockchain by digitizing the famous Burning Man's sculpture "The Space Whale" as a non-fungible token (NFT) opening the door for other artists there to the burgeoning crypto space. This is not the first time the digital sale of the Whale was attempted.
When asked about which blockchain they have chosen and why, Theodor Clapp, a researcher involved in the architecture of the RenoDAO said: "So I eventually decided on Tezos," and summarized the decision as:
I’m not biased, I’m not like a Tezos maximalist or anything. I just went to CoinMarketCap and went down the list investigating the different blockchains and the technologies that were available, to actually develop a DAO, because I was trying to find the best platform for scalability, fees, long-term sustainability.