Bilateral Parties Unite in the Name of Cryptocurrency

In Decenternet, News, Technology
cryptocurrency

If there is one thing that both political parties would agree on, it would be the power of cryptocurrency.

For the past few months, Democrats and Republicans have started which could be a never-ending debate regarding net neutrality. However, when the issue is about cryptocurrency, it looks like they are on the same page.

Democrat Rep. Jared Polis and Republican Rep. Mick Mulvaney pioneered the Congressional Blockchain Congress with two Democrats and two Republicans as co-chairs. Polis is racing for Colorado governor while Mulvaney is the Acting Director of the Consumer Financial Protection Bureau and Director of the Office of Management and Budget.

The Congressional Blockchain Congress, also known as Congressional Blockchain Caucus was established in the 114th Congress. It consists of a bipartisan group of Members of Congress and Staff who surmise in the future of blockchain technology with a perception that Congress has a key role in its advancement.

Despite being dedicated to broadening blockchain for healthcare, various government applications, and data ownership, it speaks for revolutionary attitude concerning all blockchain applications.

According to a recent study, 60% of qualified voters viewed that the exact standards for financial donations with the US dollar must administer to cryptocurrency. Besides, it also demonstrates an impressive bilateral unity in those perspectives, where both self-declared Democrats (52%) and Republicans (63%) coincide.

Both parties, 25% of Democrats and 27% of Republicans are more predisposed to donate to political campaigns if it involves cryptocurrency.

Cryptocurrency or virtual coin has been phenomenal since it was introduced. For almost a decade, bitcoin remains strong despite the volatility in the crypto market. Many assumed that it was invented by a certain person who goes by the name of Satoshi Nakamoto as bitcoin projected a political vision.

A section of what he wrote in the White Paper says, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a
financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network.”

As years pass by, this remains to be established through a decentralized registry system called a blockchain. October 31st will mark the 1oth year when bitcoin was introduced. After it exceeded the initial $1,000 in 2013, it started to draw the awareness of financial institutions.

However, according to economist Nouriel Roubini, decentralization in crypto is a fiction.

He tweeted, “It is a system more centralized than North Korea. Miners are centralized, exchanges are centralized, developers are centralized dictators.”

Decenternet might not be what he thinks of. It is an alternative peer-to-peer neutral and decentralized internet infrastructure unconstrained by politics and dictatorship. All system resources are utilized to boost user experience as well as Spyce mining optimization.

Users of Decenternet are provided with boundless access to the decentralized and centralized web. This enables users to freely communicate online while their speech is protected and empowered.

The Decenternet blockchain can process up to a minimum of 10,000,000 transactions in just a second. This makes it the most universal grade scalable solution for internet decentralization. Its principal purpose is to deliver a technological solution that will manifest the perception of success and security on the planet without the use of aggression or politics.

Looking forward, US market watchdogs are taking into account applications for bitcoin-based exchange-traded funds. If Securities and Exchange Commission approves it, cryptocurrency will become part of a monetary system it set out to sidestep.


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