Bitcoin security firm writes open letter

Paul Puey, CEO of Bitcoin security firm Airbitz, has published in a commentary on LeapRate a letter, in which he invites politicians to allow the progress of Bitcoin innovation. Puey says the letters were sent to 50 governors, 100 senators and 435 members of Congress. He warned politicians against the risks, if they prevent developments of Bitcoin industry. At the same time, he stressed that it was also the task of the local politicians and decision-makers to ensure the benefits of Bitcoin potential.

Puey begins his letter with a look back in history: As a warning, he makes reference to the Red Flag Act. This prevented in the 1800s the growth of the auto industry by strict regulations and inspections of traffic. It is precisely this resistance now also learns the Bitcoin by governments, says Puey. Also, the distrust of Bitcoins is comparable to the situation at the time of the automobiles that many people feared. On the other hand Puey compares the development of Bitcoin industry with the internet and smartphones. Back then nobody would have guessed how this huge sector could develop.

For most Bitcoin enthusiasts this may be understandable, but Puey recalls, once again, that local politicians have long not been opened against crypto currencies. For example, he explained that the New York BitLicense compelled many crypto currency startups, to settle in other countries around the services to continue to be able to offer. Despite everything Puey is certain that the Bitcoin continues to grow and influence international markets. It changes the way economy works across the globe.

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