Crypto debate can take many forms: from a dinner table chat with your uncle to arguing with strangers on social media to a Q&A session with an influent regulator.
It looks like now we have another platform to continue the debate, and it is American Congress’ mailbox 📫
On June 1st, a group of 26 (rather reputable) computer scientists sent an open letter to the Congress urging it to resist the crypto lobby pressure and to not create a regulatory safe haven for “these risky, flawed, and unproven digital financial instruments and to instead take an approach that protects the public interest and ensures technology is deployed in genuine service to the needs of ordinary citizens”.
The letter continued disputing claims about the blockchain technology’s novelty” and concluded by saying that it facilitates “few, if any, real-economy uses” 🤦♀️
Does this sound familiar to you? It’s like the same conversation with your crypto-sceptic uncle (anti-crypto banker on LinkedIn/ Christine Lagarde’s interview…) all over again 😤
Developed countries’ residents do tend to forget just how privileged they are: rule of law, democratic society, stable currency widely accepted in international trade… and an irresistible urge to patronize anyone who happens to be less fortunate. In case of this letter – the “ordinary citizens” who appear to be not intelligent enough to makes their own investment choices 🤷
Today they have received an answer – another open letter to the Congress, this time signed by 21 human rights advocates from all over the globe, including representatives of the Russian Anti-Corruption Foundation (NGO launched by now-imprisoned Alexey Navalny), Ukrainian Open Dialogue Foundation, Afghan Digital Citizens Fund, the US Human Right Foundation and other activists from Zimbabwe, Togo, Mexico, Palestine, Senegal, Nigeria, Cuba…
The response is as good as they come:
“The horrors of monetary colonialism, misogynist financial policy, frozen bank accounts, exploitative remittance companies, and an inability to connect to the global economy might be distant ideas [to those in the West]. To most of us and our communities — and to the majority of people worldwide — they are daily realities.”
We have nothing to add at this point, and we do hope that the American Congressmen and Congresswomen will be able to tell the difference between an IT version of mansplaining and defending human rights.