Even though there has been a lot of buzz in the crypto world, many are still not educated. This prompted US senator Cynthia Lummis to create an education program for her fellow senators on BTC (bitcoin) and crypto-assets.
The senator is open about BTC (bitcoin) ownership. She is also passionate about a financial innovation caucus to share the same knowledge with others.
From the interview she had with Anthony Pompliano’s podcast, she plans to educate others on BTC (bitcoin) and the public crypto space, opportunities, and blockchain technology. Her goal is to debunk the misconception that digital assets are mainly used for money laundering. Chainalysis, a blockchain forensics firm, proves that crypto-related crime is lower than crimes with cash.
On the contrary, Lummis supports Treasury Secretary Janet Yellen, who was in the spotlight from her comments concerning crypto financing illegal activities. Yellen’s remarks stirred an uproar in the crypto community regarding crypto regulation. Lummis clarified that Yellen is open-minded about crypto matters and should not be treated that way. She added a need for open dialogue to clear the air in connecting crypto to crime. If crypto regulations are not in place, they will hinder innovation.
The senator has been a BTC (bitcoin) enthusiast from way back in 2013 when it was still new and used it as a value store. In her opinion, BTC (bitcoin) can be likened to a permanent mineral trust fund, which she was in charge of when working as a state treasurer in Wyoming. When working as a state treasurer in Wyoming, she was always looking for a store of value. At that time, they had permanent funds from extracting minerals, oil, and gas. The main idea was to diversify assets so that there is still some revenue when the minerals are finished.
Lummis compares BTC (bitcoin) to natural resources as it has a market cap that can be likened to a finite resource.
Crypto education on the rise
Crypto education is on the rise to bridge the gap of crypto information. There are limitless platforms where one can enroll to learn about cryptos. Exchanges such as Binance have education series to enlighten their users. We have different courses online that you can register for. Webinars are part of the series, with many companies currently holding webinars on crypto. The number of apps has increased that is solely focused on education.
To understand cryptos well, you have to know blockchain, the technology behind it. Blockchain is one of the most sought courses in 2020, and its demand is on the rise. It has been used to solve many questions, and in the future, it is not something that we can live without. Universities are currently considering introducing the blockchain. Some like MIT, have a blockchain course to meet the demand.
The delightful part is that you do not necessarily have to have a technical background to be a pro in blockchain and crypto. Currently, there is a way you can access and use blockchain without coding.
Crypto education will still be on the rise with time. As people become more open to technology, its demand will surge.