Friday, November 26

New York’s New Mayor Wants Schools to Teach About Bitcoin and Blockchain


The newly-elected mayor of New York City – Eric Adams – doubled down on his crypto support by indicating that children should study blockchain technology and digital assets at schools.

Being a global center of innovation, the Big Apple must open its arms for bitcoin and cryptocurrency technology, the politician added.

Crypto Is The Future, And Children Should Learn About It

In a recent interview for CNN, the ex-police officer and new mayor of New York City – Eric Adams – described bitcoin and the alternative coins as a “new way for paying for goods and services throughout the entire globe.” As such, the authorities should add new school subjects allowing the younger generations to study cryptocurrencies and their underlying technology.

“We must open our schools to teach the technology, to teach this new way of thinking when it comes down to paying for goods and services.”

Adams regretted that New York had lost its glance in the recent past, opining that “we are destroying empires every day” instead of progressing. Still, he praised the megapolis as the “center of innovation,” where scientists work on self-driving cars, drone development, cybersecurity, and more. Digital assets are another technological innovation that young people need to embrace, he added.

The politician also hinted that his administration might enable local businesses to accept bitcoin and other digital assets as a form of payment. The initiative, though, will be thoroughly examined beforehand:

“We are going to look at it and we going to tread carefully, we are going to get it right.”

Eric Adams
Eric Adams, Source: CNBC

Mayors Embracing Bitcoin

Upon his election last week, Adams announced he will accept his first three paychecks in bitcoin. He also promised to turn New York City into the “center of the cryptocurrency industry and other fast-growing, innovative industries.”

Apart from excitement among the crypto community, his statement was met with some criticism. For example, the American economist and professor at Harvard University – Jason Furman – called this a wrong investment decision that won’t create economic benefits for the Big Apple.

The mayor was quick to respond, saying this is a personal decision. Having lost thousands of dollars in the stock market crash in the past, Adams noted that bitcoin is just as volatile as some of the other investments people make:

“He has his analysis, I have mine,” he concluded.

It is worth noting that down south in Florida, Miami’s mayor Francis Suarez already vowed to receive his next salary in the primary cryptocurrency instead of the dollar. Thus, he became the first US politician to make such a move.

It looks like the major American megapolises will compete not only on an economic level but also on digital asset adoption as both mayors promised to turn their cities into cryptocurrency hubs.

Featured Image Courtesy of NYPost

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