Large corporations are already preparing for the upcoming 4th industrial revolution. Emerging technologies like blockchain technology, machine learning, and artificial intelligence will be at the center of this upcoming technological revolution. In the blockchain space, things are already being put in place to ensure that there is an ideal environment for the technology to thrive as it leads the world into a new age. One thing that is essential to this end is the development of a clear regulatory framework.
Representative, Tom Emmer Calls For A Cryptocurrency Revolution
Since regulations are important to a degree, an endorsement from a United States Congressman is a big deal. Recently, Emmer said that he is bullish about cryptocurrencies and the underlying blockchain technology. He said that he is making efforts to expand the sector. This isn’t a surprise as Emmer is one of the chairpersons of the Congressional Blockchain Caucus. He made his recent statement about Bitcoin and blockchain technology during the DC blockchain summit. During the summit, he said that Bitcoin is key to the technological revolution. In his words:
“Many, including those in this town, would like to focus only on blockchain and ignore or criticize cryptocurrency. They will tell us that Bitcoin is used by criminals, and the blockchain is a real innovation. It’s true, there are illicit transactions. But that should not be a reason to totally dismiss cryptocurrency.”
Emmer pointed out the fact that Bitcoin is the first use case of blockchain technology. It allows for the transfer of value from one point to the other without the need for intermediaries.
“This is the revolutionary aspect of this technology, the idea that we can develop an open network in which we control our own data, while freely interacting with each other, and without having to trust gatekeepers. That idea could be one of the major breakthroughs of our lifetime.”
Emmer’s comments are encouraging. It’s a good thing to know that a few members of Congress are in support of Bitcoin and other cryptocurrencies leading the 4th industrial revolution.
What Else Is Happening In The Cryptocurrency World?
Apart from the recent endorsement from Representative Tom Emmer, there have been other developments in the blockchain space. Recently, reports from Electric Capital revealed that the Ethereum developer community is the largest in the cryptocurrency space at the moment. It has about 216 developers and 20,000 code repositories that contribute to the code monthly. About 99 developers make contributions to the blockchain’s core protocol. This is rather impressive since Bitcoin only has 50 developers who contribute to the repositories monthly.
Meanwhile, SatoshiPay, a Stellar-based micropayments platform, announced that it would be giving out 5% of its equity to a financial company in Germany, Börsenmedien AG’s. The partnership between both parties will lead to the integration of SatoshiPay’s into the digital media outlets of Börsenmedien AG.
In conclusion, the entire cryptocurrency space has a lot of positive sentiment going on at the moment. Things are looking up in the space. If the positive vibes continue, prices are going to start soaring soon.
What do you think? Will cryptocurrencies be in the center of the 4th industrial revolution? Share your thoughts in the comment section.