Thank you, CM Tovo, for bringing your amendments. I hope you will see I’ve tried to address them in my Version 2 of Item 57, as set out below, except that I’ve tried to find language to address the “study” issue so I will be proposing a Version 3 with a change also as set out below:
- DAOs – I agree that DAOs should absolutely be part of our efforts to develop new innovations, so Version 2 included DAOs in the whereas on Line 29. I do not think we know enough at the moment to say we should prioritize or favor DAOs over nonprofits like DivInc or over any other type of organization like Capital Factory to lead the innovation. I’d like the resolution to remain neutral to the type of technology organizations that we support.
- Environmental – As I stated during work session, I do not think blockchain technology itself has environmental impacts. I understand certain applications, like cryptocurrency, do have environmental impacts and Version 2 included direction for the city manager to assess such potential risks (See Lines 89-90), but I don’t want to state affirmatively that a digital ledger is necessarily harmful to our environment.
- Public Banking – I agree that public banking, public payment platforms, and local complementary currencies are also concepts that need to be developed for later consideration. In that spirit, Version 2 included in the Be It Resolved clause the direction that the City Manager support such creations and it also expanded the direction to include financial innovations (See Lines 48, 69-71).
- Study vs Support – Thank you for bringing this issue up. I will clarify my resolution to distinguish between supporting the creation of potential uses and studying whether those uses would benefit the City (See Version 3, Line 48-49):
“The City Manager is directed to support the creation and development of blockchain technologies and financial innovations [and study which new innovations could] benefit Austinites and city government with applications that could include, without limitation, those related to:”
VERSION 3:
http://assets.austintexas.gov/austincou ... 161325.pdf
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