Cryptocurrency for Ohio Tax Payments

Report Overview

Author: Alastair Marke
Release Date: May 31, 2019

Abstract:

This research demonstrates a potential use of blockchain in the financial system―the use of cryptocurrency for taxation. The research focused on the state of Ohio, the government of which had strong support from relevant stakeholders in the private sector. The use case gives readers a sense of the social, political, and entrepreneurial acceptance during early adoption of blockchain at a governmental level. The outcomes should inform policymakers of more efficient options to implement blockchain-related initiatives while maximizing their public impact.

Related Content

Trust(less): How Blockchain Will Help Us Navigate the Post-Trust World

This is the second half of Trust(less): How Blockchain Will Help Us Navigate the Post-Trust World. It explores the broken promises of prominent players in the first ten years of blockchain technology and examines their behavior in terms of their benevolence, competence, and integrity. It also addresses the negative associations that orbit blockchain in the mind of the average, semi-informed observer and outlines a four-step process for rebuilding trust in the blockchain ecosystem.

Read More

The Coming Cataclysm

This research explores the disruptive effects of blockchain technologies on central banking and the financial services industry. Its author discusses Facebook’s proposed cryptocurrency Libra, and how the other FAANG companies—that is, Amazon.com, Apple, Netflix, and Google—might respond with their own digital tokens. He introduces five transformations—cryptoassets, the tokenization of everything, blockchains as state machines, a new model for identity, and the nine forms of decentralized finance. He examines the challenges that incumbents and innovators face during this transition; and he previews the world of financial services in the year 2030, so that readers get a clear sense of the unintended consequences of uncoordinated efforts and the potential costs of inaction.

Read More