- US House Member References Crypto-Dollar Idea on Social Media
- Davidson: Blockchain Technology and BTC are the Future
It appears the world is heading towards a time when they will be more use cases for digital money. Many countries have decided to create their cryptocurrency. Among them is China. China is set to launch its cryptocurrency in the coming year. Chinese officials claim that the country’s cryptographic project’s prototype is already complete. Meaning, it is ready for testing and launch after five years in the development phase.
Other governments, such as the EU, North Korea, the Marshall Islands, and Iran have begun to plan to launch their digital assets. The goal is to join the current technological era.
The United States Will Launch a National Crypto Eventually
Even though the US is absent from the whole movement, many experts believe America cloud join and launch national crypto. Crypto investor, Anthony Pompliano who is working with Morgan Creek Digital spoke on CNBC’s “Squawk Box” to talk on this initiative. According to the investor, with countries like China, launching their digital asset, the U.S. might enter an economic disadvantage after Beijing launches its national cryptocurrency.
Bitcoin (BTC) Price Today – BTC / USD
While this sounds like a stretch, to say the least (because the former chairman of the Federal Reserve and other monetary leaders aren’t fans of digital assets), Pompliano makes a strong submission.
Ohio Congressman Warren Davidson Hinted at Crypto-Dollar Idea
Warren Davidson, a Republican Congressman representing Ohio, recently retweeted Pompliano’s segment. Although the congressman didn’t say anything about his thoughts regarding such initiative, his tweet shows that he is interested. Another reason is that Davidson is a notable cryptocurrency proponent which is obvious in his speeches with media outlets and congress.
Davidson also supports the Token Taxonomy Act. This legislation seeks to exempt a section of cryptos from federal securities laws. This bill will likely drive more innovator and consumer confidence in the digital currency ecosystem.
Davidson: Blockchain Technology and BTC are the Future
The congressman has declared that Blockchain technology and BTC are the future. He made this remark in a congressional hearing from earlier in the year. In his words:
“Digital tokens could potentially represent a title to a car, or deed to the land, or even software licenses, and goods or services. This feels like a third-world, upcoming-economy kind of approach. It is a model where if you plan to launch a firm, you have to negotiate with the governmental authorities. Maybe you can get a deal, or maybe the deal you get is different from the other party’s deal.”
Whether Davidson’s tweet means anything or not remains to be seen. However, we cannot deny the fact that his assertion makes a valid point.