Cryptocurrency and Independence Day
With cryptocurrency becoming more prevalent among Americans, this year’s Independence Day celebrations are reflecting this growth. A new brand of fountain fireworks named “Crypto” has emerged, and numerous retailers are now accepting cryptocurrency payments for July 4 festivities.
At gatherings on July 4, discussions about freedom often touch on cryptocurrency. According to Benzinga Crypto, while the day is significant for all Americans, the crypto community finds a unique connection to Bitcoin’s origins, which signify financial autonomy from government-controlled institutions.
Those incorporating cryptocurrency into their July 4 celebrations may unwittingly pay homage to the pioneering spirit of the Founding Fathers, particularly George Washington. The principles of cryptocurrency and the social and economic movements fueling its rise would resonate with signers of the Declaration of Independence, who might better understand it than today’s critics who describe it as unnecessarily risky or lacking purpose.
In my book, George Washington, Entrepreneur, I argue that Washington would likely appreciate cryptocurrency. He kept meticulous records and utilized secret inks, which would intrigue him about the encrypted ledgers fundamental to cryptocurrency and blockchain technology, promising advancements in transaction privacy and efficiency.
I illustrate that despite lacking formal education, Washington was a dedicated learner who leveraged his knowledge to establish various innovative businesses, from a whiskey distillery to the first mule breeding service in the U.S. He supported American inventors and emerging technologies of his time, even predicting the future of air travel before it was realized.
It’s reasonable to think that Washington would identify familiar traits in cryptocurrency and support the freedom to utilize it. He would recognize encryption, ledgers, and privately issued currencies as core components of the crypto world.
Overall, Washington and his contemporaries might see decentralized cryptocurrencies as vital tools for safeguarding liberty, especially in light of recent incidents where government actions have restricted individual financial freedoms. His concerns about “encroachment” in governance indicate he likely would view cryptocurrencies favorably as a means to protect citizens from government overreach.
