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The Case for a Crypto Lobby

Can we expect politicians to attain crypto literacy on their own?

Puerto Rico has attracted a large number of crypto innovators in recent years. But it can't boast an equal record when it comes to passing pro-crypto legislation. Part of the problem, according to Brock Pierce, is a lack of knowledge among politicians. A similar deficit plagues the elected officials in Washington, D.C., noted the chairman of the Bitcoin Foundation.

Pierce told Roundtable's Rob Nelson that, in his experience, the “powers that be” don’t really understand how blockchain works, but are generally open to learning.

“In most instances, they’re a little embarrassed, but genuinely curious," he said. "They don't want to admit they don't know, unless they're having a conversation in private where they can be vulnerable and say, 'Please help me understand what's going on here.'” 

For Pierce, educating politicians about crypto is simply a matter of empowering them with the information they need to make decisions for the public good.

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Because humans are naturally resistant to change, he said, education plays a crucial role in overcoming fear. He went on to observe that this fear is less pronounced in younger politicians who are generally more open to what crypto has to offer. 

“They understand that technology has changed all of our lives, all of our businesses. And of course it's gonna change all of our institutions,” said Pierce. “Change is a constant.”

Watch the full interview: