• November 28, 2021
 Op-Ed: The Miseducation of Government and Bitcoin

Op-Ed: The Miseducation of Government and Bitcoin

Most recently several members of the government have made misleading and disparaging comments when it comes to blockchain and cryptocurrency technology. Add to that, part of the new infrastructure bill has portions in it, designed to punish and hinder those in the blockchain industry.

This state of ignorance, and lack of facts, is present in both political parties, Democrat and Republican.

While there are federal blockchain and cryptocurrency caucuses advocating for the acceptance and use of Bitcoin and other cryptos, in our municipal, state and federal
government, there are strong forces lined up to usher in Bitcoin’s demise.

When I hear politicians such as Sen. Elizabeth Warren whose said that Bitcoin is powered by “shadowy faceless group of super coders,” or Treasury Secretary Janet Yellen who says bitcoin is an “extremely inefficient” way to conduct transactions, and Congressman Brad
Sherman, who says “Bitcoin should be outright banned,” I realize it’s a wake-up call to educate our politicians on blockchain and cryptocurrency technology.

These politicians face a classic case of blockchain illiteracy. Before researching and learning exactly what the industry is and how it works, they’ve listened to other blockchain illiterates and have been convinced that Bitcoin is bad, and is somehow a threat to our current
system, full of criminals and other bad actors.

It is of major importance that our elected officials know the real facts on blockchain and cryptocurrency. Therefore, it is incumbent upon each office holder of municipal, state and federal governments, to read and comprehend the “Bitcoin Whitepaper.”

A small minority of local government officials, such as Miami’s mayor Francis Suarez have made the “Bitcoin Whitepaper” available for the public to download and review, along with ushering in Miami as a crypto hub.

I have included a link that will allow you to download this amazing and historical document. Please download and read it, and once you’ve finished, request your local and state government officials due the same.

For an educated government on blockchain and crypto is a government that will set common sense policies and capitulate to the fact that the future of money is in blockchain and cryptocurrency.

Author: Majeed A. Kariem, CBP
C4-Certified Bitcoin Professional |  President, Blockchain Merchants Assoc.
blockchainmerchants@mail.com

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For more info on the Blockchain Merchants, click here; for previous columns, click here.

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