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The push for cryptocurrency in Lake County

Super Bowl Sunday signaled a sign that crypto has surely gone mainstream. Several commercials of the digital currency aired in front of America’s biggest audience. Although its popularity has grown over the years, some of us may still be scratching our heads. “Cryptocurrency is decentralized in the sense that there’s every computer, computer spread around the country, around the world are little mini servers themselves and so there’s no central location where a credit, debit system is held,” Sean Parks said.For the past few months, Lake County commissioner and chairman Sean Parks has pushed county staff to look into accepting cryptocurrencies. There are thousands of types. As he explains, you can’t hold a digital coin as you can a nickel or a dollar and it’s not connected to a bank. “I tell people that instead of having it all in one central server, one ledger in an account somewhere, at a bank, on a computer somewhere it’s essentially spread around computers – could be spread around computers across the world,” Parks said.Then it keeps track of every transaction. Parks says crypto provides people with their own security. It’s not the U.S. currency, but he says it can be converted.”When you’re trying to invest and you’re thinking about the future and saving money, this is another portfolio option,” Parks said.Even though you can’t physically touch it, digital currency can be used to obtain physical items like a car or house. Lake County is considering creating its own coin that can help generate revenue. “It will certainly help with the county budget and I think it promotes usage within small business usage within the county,” Parks said.The Lake County Commission is exploring different cryptocurrency options and is seeking expert advice. Parks said a pilot program could launch in the coming months.

Super Bowl Sunday signaled a sign that crypto has surely gone mainstream.

Several commercials of the digital currency aired in front of America’s biggest audience.

Although its popularity has grown over the years, some of us may still be scratching our heads.

“Cryptocurrency is decentralized in the sense that there’s every computer, computer spread around the country, around the world are little mini servers themselves and so there’s no central location where a credit, debit system is held,” Sean Parks said.

For the past few months, Lake County commissioner and chairman Sean Parks has pushed county staff to look into accepting cryptocurrencies. There are thousands of types.

As he explains, you can’t hold a digital coin as you can a nickel or a dollar and it’s not connected to a bank.

“I tell people that instead of having it all in one central server, one ledger in an account somewhere, at a bank, on a computer somewhere it’s essentially spread around computers – could be spread around computers across the world,” Parks said.

Then it keeps track of every transaction. Parks says crypto provides people with their own security.

It’s not the U.S. currency, but he says it can be converted.

“When you’re trying to invest and you’re thinking about the future and saving money, this is another portfolio option,” Parks said.

Even though you can’t physically touch it, digital currency can be used to obtain physical items like a car or house.

Lake County is considering creating its own coin that can help generate revenue.

“It will certainly help with the county budget and I think it promotes usage within small business usage within the county,” Parks said.

The Lake County Commission is exploring different cryptocurrency options and is seeking expert advice. Parks said a pilot program could launch in the coming months.


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