The first integrated campaign to challenge well-funded blockchain companies has brought together a team of key experts to encourage American lawmakers to participate in the growing cryptocurrency industry.
Bruce Schneier, a Harvard lecturer; Miguel de Icaza, a former Microsoft engineer; and Kelsey Hightower, a senior engineer at Google Cloud, are among 26 reputable computer experts and scholars who have signed a letter to US politicians critical of crypto investment and blockchain technology.
While people have expressed similar concerns about the security and stability of digital assets, this is a concerted effort to combat the growing influence of crypto supporters who oppose attempts to control the newborn industry.
Bruce Shneier said:
“The claims of blockchain proponents are false.” It is not safe, and it is not isolated in the middle. Any programme you lose that saves your life if you forget your password is not safe.”
“This book is about recruiting people,” said Stephen Diehl, a signature and software developer. “The crypto industry has its own people who tell lawmakers anything they want to hear.”
The number of enthusiasts representing the crypto industry has risen from 115 to 320 between 2018 and 2021, according to a recent US Congressional Lobbying Disclosure database by Public Citizen, a consumer advocacy group, and the money spent on recruiting the crypto industry. cryptocurrencies four times, from $2.2 million to $9.5 million over the same period.
Cryptocurrencies, according to supporters of the industry, are the answer to many of the world’s major economic problems, including providing banking services to millions of people worldwide who do not have access to traditional financial institutions; protecting financial privacy; and allowing those affected by inflation to access banking services. save wealth.
In a note seen by the Financial Times, experts wrote: “We urge you to withstand the pressures from digital commerce funders, promoters, and sponsors to create a safe haven for these dangerous, inefficient, and unsecured digital financial instruments.”
The goal is to reach out to people of all political persuasions. The letter is addressed to Senate Majority and Minority Leaders Charles Schumer and Mitch McConnell, as well as prominent senators such as Republican Patrick Toomey and Democrat Ron Wyden, both of whom have supported some of the crypto industry’s goals.
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