Bitcoin And Black America: Is There A Stigma Around Cryptocurrency?
cryptolove last edited by Reward
When it comes to cryptocurrency, race might not be the first thing that you think of however, it is a much bigger issue than you may think…
The African-American community is typically at an economic disadvantage and has been for many years, with the overall financial system being fuelled by unethical practices such as redlining as well as many others. Cryptocurrencies give the African-American community the opportunity to avoid all of this discrimination and bring things up to speed.
The Chief Executive Officer of Twitter, Jack Dorsey is well aware of the different controversies throughout the world, given his platform hosts more than 300 million people on a global scale. In fact, his own number of followers sits at just over 4 million at the time of writing. Over the weekend at the end of last week, he started promoting a new book which discussed the potential benefits that the leading cryptocurrency has to the African-American community.
Written by Isaiah Jackson the book offers an analysis on the role of cryptocurrency within the African-American community. Called Bitcoin & Black America, the book takes on a completely new perspective for cryptocurrency and digital assets alike.
One of the main issues according to Jackson, is the perception of digital assets within the American African-American community. As per CoinTelegraph:
“They are not the only ones to see Bitcoin as a scam, with new schemes continuing to exploit lack of regulatory oversight popping up in the news. Misinformation coupled with a lack of banking access has made investing in cryptocurrency a challenge among black people in the United States. Jackson says this must change going forward.”
It will be interesting to see how this plays out.