CityCoins, Taxes, and the Future of Municipal Politics
WIRED
Beyond CityCoins’ undetermined future, it remains to be seen whether crypto writ large will usher in a technocratic nirvana, wither the way of Dutch tulips, collapse like an audited Ponzi scheme, or lead to unforeseen outcomes. Regardless, the capitalist urge to turn a civic tradition into a financial instrument will survive whether CityCoins fizzles out or not. TurboTax has already done this for its shareholders; CityCoins or some future avatar will lead the charge in “democratizing” those gains for others. But the civic tradition of birthing political movements by confronting unjust financial tools remains alive and well, too. Whatever comes next, we can all agree the IRS leaves ample room for improvement.
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