Cities Have Now Started Giving Incentives for Building Crypto-hubs
A bid for Blockchain Research
Northwest Arkansas pay $10,000 in bitcoins to move there and hopefully turn it into a crypto-hub with a free bike and over 35,000 have applied. A non-profit, the Northwest Arkansas Council, offers these incentives to lure newcomers to the region as part of a broad push to spur migration there and create a crypto-hub in the area. While the council hopes to attract workers in the tech industry and entrepreneurs with blockchain interests, the offer is open to all who intend to move and boosts bitcoin use.
Northwest Arkansas has incentivized entrepreneurs, artists, and other tech talent to move there since November 2020 with an offer of $10,000 cash and a bike (a road bike or a mountain bike). The offer is funded by the Walton Family Foundation (the Walmart family) received over 35,000 applicants from people in over 115 countries, the council said while 50 people have moved there. With bitcoin incentives, the Council plans to fill roughly 7,500 open technology jobs over the next decade. Northwest Arkansas boasts a tech hub on the University of Arkansas campus, the Blockchain Center of Excellence, a leading academic research center on blockchain technologies. Northwest Arkansas is one of many regions that attracts remote workers while the pandemic was in full swing. Nearby Tulsa was offering its workers $10,000 to move base there in November of 2020; one family who took up this offer said it was one of the best decision they ever made.
Competing and Opposing Centers
Greensburg, Indiana, gives newcomers $5,000 and even offers to give caregivers who are senior citizen, to families with children, and West Virginia’s program, Ascend WV, promises $12,000 to live and work in the state for two years. The program garnered so many applicants and those who were not selected, were given $2,500 off from their mortgage. Alabama, Kansas, Vermont, and many other cities and towns across USA have offered various incentives, up to $20,000, free internet, or a relocation stipend and one town even offered a free house. China recently banned cryptocurrencies in the country, while El Salvador is set to become the Bitcoin capital of the world, after declaring Bitcoin as legal tender, the Central American country plans to build the world’s first ‘Bitcoin City’ with infrastructure funded by Bitcoin bonds and residents won’t pay income tax.
The Next Big Bitcoin Hub Is… Texas?
Texas attracts hordes of Bitcoin miners with pro-crypto policies that include massive tax breaks, and cheap power. Texas is attracting a lot of Bitcoin miners through pro-crypto policies that include state-funded workforce training, and massive tax breaks. The developments coincide with increasing acceptance of cryptocurrencies world-over.
In USA, the first Bitcoin ETF began trading at the New York Stock Exchange (NYSE) last month. AMC Theaters the country’s 2nd largest theater chain announced plans to accept Bitcoin and other cryptocurrencies for online payments. Texas strives to be a Bitcoin hub, even as there are growing concerns over harmful environmental impacts of cryptocurrency mining. Pro-crypto policies attracting miners to Texas reportedly include sales tax credits, 10-year tax abatement, and workforce training from the state. The state’s cheap power and pro-business policies also lure crypto miners. Plans to make Texas a Bitcoin hub are pushed by leading Republican state politicians, including Senator Ted Cruz and Governor Greg Abbott who have publicly backed negligible regulations, generous tax breaks, and policies that attract miners to the Lone Star state.
More in Investments & Savings
Famous Entrepreneurs Want You to Learn From Their Biggest Failures
No one can be an overnight success, as failure is an inevitable baggage on an entrepreneurial journey. Some famous entrepreneurs speak...July 7, 2022
City Wars! Which Popular City is the Best to Own a Million Dollar Home in?
When buying real estate, any home buyer would want the largest square footage for their buck. So what sorts of an...July 6, 2022
The Ultra Wealthy Want Their Privacy and They’ll Do Anything to Get It
Ultra-rich rapper Nicki Minaj in her pink Lamborghini worth $400,000 or celebrity entrepreneur Mark Cuban stepping out from his private jet worth $40...July 1, 2022
Equity Crowdfunding Demystified – Part I
As a small business owner, securing funds for your start-up is challenging. Less than 1% of start-ups secure funds from angel...June 30, 2022
This is The Situation of American Indebtedness at Every Age
It is said that once born as a human being, you can never escape Debt and Death. How true when at...June 29, 2022
Celebrities Who Take the Term ‘Neat Freak’ to a Whole New Level
When obsessive and/or compulsive preferences are disturbed, it might annoy the individual, but not actually cause any unyielding or extreme anxiety, as is...June 28, 2022
What’s a Crypto Wallet and Do You Need It?
Technically, you don’t keep coins in cold storage or download hot wallet programs to your desktop. Many crypto-exchanges now allow storing...June 27, 2022
Hollywood’s Plastic Surgeons Admit Business Boomed During Lockdowns
Nobody knows they had it done Celebrities got liposuction, nose jobs, and invasive procedures done, when the lockdown cancelled performances. Invasive...June 24, 2022
Getting Yourself a Mortgage is Easy with These 8 Steps
A red-hot housing market and rising mortgage rates complicates home-purchase processes; be prepared and study the mortgage process before home shopping....June 23, 2022