The state of Texas has introduced a bill to establish a strategic Bitcoin reserve, reflecting the increasing acceptance of cryptocurrencies.
The proposed legislation aims to allow the state to hold Bitcoin for at least five years as a safeguard against inflationary pressures. The bill suggests collecting donations, taxes, and fees in Bitcoin to enhance the state's financial resilience.
This initiative aligns with a broader trend across the United States, where several states are exploring the establishment of their own Bitcoin reserves. Despite some skepticism from financial experts, institutional interest in cryptocurrencies is growing, with Bitcoin and Ethereum becoming key components of diversified investment portfolios.
In a related development, Tools for Humanity (TFH) has partnered with Modulus Labs to enhance the capabilities of the World network in secure cryptography and machine learning solutions. The partnership aims to prioritize user privacy by utilizing customized machine learning technology.
The World project has made significant progress in enabling individuals to verify their human identity and has attracted millions of users across the globe.