Former Cheyenne Mayor Orr Discusses Wyoming Cryptocurrency Company
American CryptoFed is the first company registered in Wyoming under legislation that allows for decentralized autonomous organizations. Such organizations are governed by rules that allow for the direct management of the company by its members rather than a centralized corporate hierarchy.
Orr said Saturday that while she is serving as the company's CEO for now, eventually her position will disappear as the company gets up and running. A bill authorizing the formation of d.a.o. companies was passed by the Wyoming Legislature earlier this year, and American CryptoFed was registered with the Wyoming Secretary of State's office shortly after the new law took effect at midnight on July 1.
Orr said Saturday that the company will soon be issuing a couple of cryptocurrencies, the Ducat and the Locke.
The former mayor says her experience in city government shows the advantages of cryptocurrencies:
"Having been mayor, when someone comes in for a building permit, we typically pay those expensive business permitting fees with a corporate credit card, and so the city is being charged anywhere from 1 to 3% to take that businesses money...so we can save cities, towns and counties money in conducting business...in the future it should be a pretty decent revenue source and should offset any kind of need to increase fees or taxes."
Orr, who was the first female mayor of Cheyenne, served as the head of Wyoming's largest city from 2017-2021. You can hear all of her comments from Saturday's interview in the audio file below: