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Cebu City eyes use of cryptocurrency in City Hall transactions

SunStar
+
April 27, 2021
RESIDENTS of Cebu City may soon have the option of settling their City Hall transactions business taxes, real property taxes, BRT credits, etc. in cryptocurrency.
This, after City Mayor Edgar Labella signed a Memorandum of Understanding on April 15, 2021, to jointly explore with C Pass Inc., represented by chief executive officer (CEO) Jaewon Kim, the feasibility of the city using C Pass cryptocurrency and remittance and payment system for the city government.
Kim said C Pass will immediately comply, adding that their cryptocurrency C Peso has been issued.
He is confident that the City will see the advantages of their cryptocurrency, and sees wider commercial use of C Peso a stable coin that people can buy and load unto their digital wallets. It is based on the blockchain technology of Ethereum, and uses the same system employed in Korea. ....

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