The inherent nature of a protocol like Bitcoin enables a lot of confusion to seep in its surrounding. Public policies are a great tool to counter some of these confusions and to raise awareness at the same time. Fortunately, a new institution called Coin Centre is focusing on the public policy issues currently hindering the growth of Blockchain technologies. In a recent announcement, along with the launch of their website, Jerry Burito explains what CoinCenter is all about and what they plan to do in the future. The executive director of Coin Center writes on his website:
“Coin Center is an educational and research institution focused on the public policy issues facing cryptocurrency technologies. Think of us as a think tank for blockchain technology. Our mission is to build a better understanding of the technology in order to promote a regulatory climate that preserves maximum freedom of action for digital currency innovation.”
Research and Education
While the amount of Venture Capital investment in Bitcoin start ups is a major highlight in Bitcoin’s infrastructure, we should not forget that there has to be money and time invested in the education of this young technology. By keeping education as their core principle, Coin Center has gathered a team of individuals who are working full-time on this project. They currently have people with an expertise in public policy, education, research and technology.
The year 2014 taught the growing pains of a maturing technology to the Bitcoin community. It also showed a dire need of regulation in the industry. People at Coin Center realize the importance of cooperating with the regulators for the long term success of Bitcoin. But, they also understand the prerequisites of innovation in this novel technology. So, in order to make sure that the innovators and regulators have an equal footing in the future, Coin Center will be engaging policymakers, media and public at large.
“Success for us is a world in which regulators, the media, and the public understand what cryptocurrency technologies are (and aren’t) and why they’re important. A world in which technologists can continue to enjoy the freedom to tinker. A world in which entrepreneurs can confidently make the promise of cryptocurrency a reality for consumers. Yet one of the greatest potential impediments to that world is over burdensome regulation.”
With several events lined up for the upcoming year, CoinCenter is ready to educate the world about the promises and challenges of cryptocurrencies technologies. Their research director Peter Van Valkenburgh will be presenting on cryptocurrency and regulation at an emerging technology event for EU parliamentarians.
A great addition to the Bitcoin ecosystem, we need something like CoinCenter in every country where Bitcoin has the potential to reach mainstream success. That’s the real beauty of education. Most Bitcoin enthusiasts believe Bitcoin to be too complicated for an average user. But what we really need is a way to clear the misconceptions around Bitcoin. If every country had a think tank dedicated to the block chain technology, most of the misconceptions about Bitcoin would not have been in the first place.