Members of the United States Congress are set to be given a small amount of Bitcoin as part of an educational initiative called ‘Crypto for Congress’.
The initiative is being touted as the first time that all members of the US Congress will have the opportunity to obtain and use cryptocurrency in order to further the understanding of blockchain technology by America’s leaders.
The programme is being driven by the Chamber of Digital Commerce’s political action committee (PAC) and will see each member of Congress receive $50 worth of BTC.
There are 535 members of Congress that will receive $50 worth of BTC, which equates to a total of $26750 or 2,49 BTC in total.
According to the official Crypto for Congress website, the PAC believes that experiential learning will help introduce Congress members to the technology.
The Chamber’s founder Perianne Boring believes that setting up the foundation for Congress members to begin using cryptocurrencies will be key to helping them get a working understanding of how cryptocurrencies work.
“Now is the moment for all Members of Congress to learn about and embrace cryptocurrencies and blockchain technology, and the best way to do that is to set up a digital wallet and get started on the blockchain journey,” Boring said in a statement.
Boring also believes that the initiative will be a catalyst that could help America make up some ground on other major nations that are more actively adopting and driving the proliferation and use of cryptocurrencies.
“Many other nations like China, Japan, Singapore and Switzerland have rapidly embraced blockchain technology and created robust national plans to be global leaders in this area. The United States is falling behind in technological innovation and this is not a risk we should be willing to take,” she said.
Key roleplayers involved
The PAC’s Crypto for Congress initiative is being supported by a number of big role players in the cryptocurrency space.
This includes a number of major companies which includes Anchorage, Armanino, BitPay, BlockFi, Bloq, CMT Digital, Circle, Civic, Core Scientific, eToro, Flipside Crypto, Hedera Hashgraph, Medici Ventures, Messari and Paxos.
Given that the United States’ Federal Election commission allows candidates to accept contributions in cryptocurrencies to their campaigns. For those that haven’t experienced or used cryptocurrencies before may well be more open to accepting donations to their campaigns with digital assets.
The Crypto for Congress website also has an extensive section which unpacks the various working parts behind blockchain technology and the various industries that are being provided with cutting edge solutions thanks to this burgeoning sector.