“The more I thought about the city of Toronto – one of the premier cities of the world, a city that not only welcomes innovation but promotes it – what better way to look at it in more detail…(and) ask the city hall financial guys to see how City Hall can get involved in it,” he said.
“It could be a cheaper, less expensive way to pay bills … You can buy things. You can do all the things that we do right now with money … but this time it’s digital.”
Kelly said his interest around cryptocurrency piqued after reading headlines involving Bitcoin.
“There was always some reference, every day, to either Bitcoin or cryptocurrency,” he said.
“So I began to discuss it in a very general way with my followers … and their input came from all sorts of directions.”
Kelly admitted he’s not an expert on cryptocurrency. But he said the more people learn about it, the more it can become a benefit.
“I’d rather be ahead of the curve than behind it,” Kelly said.
“Let’s embrace it, let’s explore it and let’s hopefully have everyone profit by it.”
Kelly’s motion will be considered by city council in January. The motion asks for staff to report back by the middle of the year.
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