Cryptocurrency enthusiasts will release a book on digital assets for politicians. Why?
A group of eight cryptocurrency enthusiasts has launched a campaign on Kickstarter to publish an educational publication for US politicians and regulators. The cryptocurrency fans want people in government to really have an understanding of the digital asset industry, rather than relying on rumours or false opinions that very often appear in traditional media. At the time of writing, the project has already raised $26,932, more than five times its initial goal of $5,000. We tell you more about the situation and its importance.
It should be noted that politicians - including American politicians - really don't know much about digital assets. This became clear after recent hearings in the US Congress in the first half of December, which were attended by some of the most prominent representatives of the niche. As a result, the latter among others had to explain basic concepts from the world of blockchain and decentralisation to officials, as many of them did not have a grasp of the subject. However, they are the ones who will have to regulate this niche - and without an understanding of the subject, it is unlikely to be done properly.
On top of that, the lack of complete mastery of the subject became obvious after a joke by Congressman Brad Sherman, who took to making jokes about the names of coins and eventually made it clear that there were too many of them. However, such statements ended up being the occasion for the creation of the humorous Mongoose coin. Read more about the story in a separate piece.
Cryptocurrency regulators
As a result, representatives of the blockchain industry decided not to put up with the situation. They will spend the time and money raised to create educational materials for regulators.
Bitcoin education course
The idea for the book came shortly after the US House of Representatives passed the bipartisan $1.2 trillion infrastructure bill, which imposes strict reporting requirements on digital asset owners. Here’s a quote from the creators of the campaign, published by Cointelegraph
We decided to write a book to help policymakers understand where Bitcoin users are coming from and what their concerns are. We want to dispel the myth that it’s money for nerds and show how crypto affects so many people in America.
That is, prominent fans of blockchain-based digital assets realize that understanding and interacting with the crypto niche without experience is difficult enough, so the authorities need help. That's exactly the role the new book will fulfil upon release.
Campaign page on Kickstarter
The lead author of the campaign is well-known crypto-enthusiast and businessman Jimmy Song. Other authors include Annalise Wiederspan, Gary Leland, Pete Rizzo, Amanda Cavalieri, CJ Wilson, Charlene Fadirepo and Lamar Wilson. According to the campaign schedule, the manuscript for the book has already been drafted and will be completed by the end of 2021. By January, the authors intend to release the audiobook and the paperback edition itself for sale.
Book cover
The launch of the book will be accompanied by a high-profile event in Washington, D.C., the funds for its organization will be allocated from the money raised beyond the organizers’ planned norm of 5 thousand dollars. We can therefore assume that the book will reach its target audience after all.
It should be noted that not all representatives of the aforementioned Congress passed over the coin industry. In particular, five people managed to invest in crypto, and in one case we are talking about hundreds of thousands of dollars invested. Read more about this at the link.
Bitcoin is rising
We think that such initiative deserves attention and should be implemented in most countries of the world. Still, the digital asset niche is new, so many are not familiar with it - and especially officials. Therefore, ideally, the release of the material will allow policy makers to better understand the cryptocurrency topic and stop treating it undeservedly negatively.
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