Louisiana Receives Bitcoin Payment For State Services

Louisiana accepts Bitcoin payments for state services (Photo; Doc. Cointelegraph)

JAKARTA - The state of Louisiana, United States, is now officially accepting payments using Bitcoin (BTC) and USDC stablecoins for public services. This move is an effort to increase transaction security and reduce the risk of fraud. With this adoption, Louisiana became one of the first states in the US to integrate crypto assets into its government payment systems, providing flexibility and convenience for its citizens.

Louisiana became one of the first US states to adopt crypto assets as an official payment method for government services. The announcement was made by Louisiana State Treasurer John Gimp, on September 17, 2024. Louisiana citizens can now pay for various public services using Bitcoin and the Bitcoin Lightning network, as well as USDC stablecoins.

Quoted from Coinspeaker,yang emphasized that this implementation aims to modernize the government system, as well as provide flexibility for the community. In the digital era like today, the government system must adapt to new technology. By introducing crypto as a payment option, we are not only innovating, but also giving freedom to citizens in interacting with state services," he said.

To facilitate this crypto transaction, Louisiana is partnering with Bead Pay, a payment company that will convert Bitcoin and USDC into US dollars before being handed over to the government. This aims to protect state governments from the frequent volatility of crypto assets.

With this system, Louisiana ensures that crypto payments run safely and efficiently, equivalent to payments via credit or debit cards. This step is expected to reduce the risk related to digital asset price fluctuations.

In addition to increasing transaction efficiency, the use of crypto is also considered an effort to reduce fraud that often occurs in traditional payment systems. Louisiana views blockchain technology underlying Bitcoin as a powerful tool to increase transparency and security of financial transactions.

The Louisiana State representative, Mark Wright, who also supports the adoption of digital assets, stated that this move is part of a broader initiative to include new technologies into public services. I am proud to have supported various laws related to digital assets and worked closely with Treasurerong. I hope Louisiana continues to be a leader in receiving digital payments," Wright said.