The ethos surrounding blockchain companies and digital asset markets revolves around inclusivity, community, and collaboration. This emerging technology is wide open, yet it is not attracting the high level of involvement of America’s rainbow of aspiring entrepreneurs who could reap great benefits from it.
Many blockchain companies and digital asset projects are building towards creating access to and distributed ownership of traditionally gate-kept or inaccessible systems.
The adoption of blockchain technology and digital commodity markets means the democratization of assets as the groups that will benefit the most are the ones that are traditionally underrepresented or lacking opportunity, such as young people and communities of color. Barriers to enter the realm of crypto technology are minimal. Digital assets and blockchain offer opportunities to make finance, the arts, and business ownership more inclusive and transparent.
Therefore, a regulatory framework like the Digital Commodity Exchange Act (DCEA) (H.R.7614), sponsored by Cong. Ro Khanna, is inherently good for the space as it will improve the transparency of these “Wild West” innovations and add clarity and protection for those entering this burgeoning arena. With further regulatory clarity all parties will be able to benefit.
Blockchain is based in community. It is a natural match for communities of color, and as rules are made and institutions emerge, we should work together to ensure that the resulting benefits remain mutual.
Blockchain and digital assets need friends in communities of color and in DC and I am eager to serve in the role as a double bridge to these entities.
People of color, Black and Latino youth should participate in the modern wealth generation of new blockchain technology, including digital currency. However, this technology must be inclusive and foster greater participation with security for the aspiring investors. That’s why when I get to Congress, I will support initiatives like the Digital Commodity Exchange Act sponsored by @rokhanna.