New York Considers Introducing Bitcoin In Schools

The US is transitioning to a major crypto hub, with politicians now advocating for the payment of salaries in Bitcoin. The newly-elected mayor for New York City, Eric Adams, wants to integrate crypto into the education system.

The mayor had initially stated that he would receive his paycheck in Bitcoin, and now, he has stated that schools should introduce a subject that tackles cryptocurrencies and blockchain technology.

Bitcoin as a subject in school

Adams is a major Bitcoin advocate. He has now stated that children need to be introduced to digital assets and blockchain early enough because these two sectors would shape the future.

In an interview with CNN, the mayor noted that Bitcoin and other digital assets were a “new way for paying for goods and services throughout the entire globe.” With these assets going mainstream, schools needed to add them as new subjects to allow the young generation to know more about cryptocurrencies and the underlying blockchain technology.

“When I talked about blockchain and Bitcoins, young people on the street stopped and asked me, ‘What is that?’ the mayor said. He added that bringing this technology into the academic sector would teach students to have a “new way of thinking.”

The mayor also added that he had plans to encourage businesses in New York to accept Bitcoin and other cryptocurrencies as a means of payment. However, he added that this would not happen right away, as he needed to “tread carefully” to make sure that he got it right.

He further noted that New York was losing its top position in matters of innovation and that the city needed to be a “centre of innovation, no matter what that innovation is.” He noted that the city was already part of major innovations such as the development of self-driving cars, manufacturing of drones, cybersecurity advancements and more. Digital assets were the other innovation that the city needed to embrace.

However, not everyone supports Adam’s latest move to show support for Bitcoin and digital assets. According to Jason Furman, a Harvard economist, it was a conflict of interest for the mayor to show support for an asset that he will get with his next three paychecks.

“Not only is this a bad economic strategy for NYC for and a bad investment decision, it also seems like a conflict of interest,”

the economist stated.

Mayors for Bitcoin

Adams is joining the list of mayors who have stated that they will receive their next salaries in Bitcoin. The trend was started by the mayor of Miami, Francis Suarez, who stated that he would receive 100% of his next paycheck in Bitcoin. Suarez was the first US politician to accept Bitcoin for salary payments.

Suarez has been pro-bitcoin and a major crypto supporter during his first term as Miami’s mayor. He was behind the creation of MiamiCoin, the first city-based token that has earned great returns for the city.

The other mayor who has also announced receiving her paycheck in Bitcoin is Tampa Bay’s, Jane Castor. Speaking during Florida’s Bitcoin Blockchain Sumit, castor stated she would receive her next paycheck in Bitcoin with the help of the Celsius network.

It now seems that digital assets, especially bitcoin, are finding a place in the political arena. Through these initiatives, the mayors are planning to transform their cities into major cryptocurrency hubs.

Leave a Reply

Your email address will not be published.

Related Articles
Read More

How Long Will The Bull Market Last – Crypto Winter Coming?

After dropping to lows of $40K in September, the Bitcoin has climbed to the highs of $61K. Currently, Bitcoin is only $3000 away from reclaiming its all-time high. While these market bulls create excitement, there is also fear that the bullish rally will not last,...
Read More

Paypal And Bitcoin: Happily Ever After?

Same as last November, the news about the PSP giant betting on crypto gave Bitcoin a considerable boost. After the announcement, the coin’s price soared, reaching $59.000 for the first time in its history. Indeed, with such a large and trusted company backing it, Bitcoin...
Total
0
Share