A group of tech experts are calling on Washington officials to crack down on what they believe is a misunderstanding lobbying activity from the crypto industry.
According to a report from the Financial Times, 26 major computer scientists and scholars have signed and sent a letter to the US authorities in the capital, who criticize cryptocurrencies and blockchain technology.
The group, including Harvard instructor Bruce Schneier, Microsoft engineer Miguel Deikaza, and Google Cloud principal engineer Kelsey Hightower, aims to be a “counter lobby” for growing crypto and blockchain lobbying groups. I am.
Schneier says,
“It’s not true what blockchain proponents claim. It’s not secure and it’s not decentralized. A system that forgets passwords and loses lives isn’t a secure system.”
In a letter that FT saw, the author asks officials to think twice before handing it over to a crypto lobbyist.
“Resisting pressure from financial firms, lobbyists and boosters in the digital asset industry to create a safe haven for these risky, flawed and unproven digital financial products. It is recommended…
Cryptocurrencies have been a means of unhealthy and highly volatile speculative investment schemes that are being actively promoted to individual investors who may not understand their nature and risk. “
According to Microsoft’s deIcaza, the computing power behind the blockchain is comparable to what a $ 100 computer can do in a centralized way.
“We’re basically wasting millions of dollars worth of equipment because we decided we didn’t trust the banking system.”
Cryptographic lobbying in Washington has increased in recent years and has attracted the attention of both parties. Earlier this year, SkyBridge Capital CEO Anthony Skalamchi predicted that lobbying groups would force the next two presidential candidates in 2024 into cryptocurrencies.
“Tell you this. Follow the money as there is a water wall of money entering Washington from various groups and lobbying groups. I have the last two presidential candidates in 2024 at your show. Predict to become a crypt, a pro blockchain. Follow the money. “
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Featured images: Shutterstock / LongQuattro / Mooi Design
