Blockchain Advocate Lee Bratcher Highlights Importance of Education for US Lawmakers

Challenges in Blockchain Adoption

Lack of Knowledge Among Lawmakers

Lee Bratcher, the President of the Texas Blockchain Council, emphasizes the critical role of education in promoting acceptance of blockchain technology in the United States. According to Bratcher, the main obstacle to lawmakers embracing blockchain is their unfamiliarity with the technology, particularly among older generations.

Motivating Lawmakers for Innovation

Bratcher suggests that educating lawmakers about blockchain is essential to prevent the US from falling behind global competitors in technological innovation. By highlighting the potential benefits of blockchain, such as enhancing US competitiveness in finance and digital assets, lawmakers can be encouraged to support its adoption.

Stablecoins as a Game-Changer

Strategic Importance of Stablecoins

Bratcher views stablecoins as a revolutionary application of blockchain technology, alongside Bitcoin. He believes that stablecoins offer an efficient way to transfer funds globally while boosting demand for US treasuries. This, in turn, can help maintain the US dollar’s status as the world’s reserve currency.

Upcoming Legislative Initiatives

Key Bills in Focus

Bratcher is closely monitoring legislative proposals such as Senator Bill Hagerty’s Clarity for Payment Stablecoins Act of 2024 and the Financial Innovation and Technology for the 21st Century Act (FIT21). These bills aim to establish regulatory frameworks for stablecoins and clarify the classification of digital assets as commodities or securities.