Jack Dorsey, the CEO of Twitter, is promoting a new book called Bitcoin & Black America, written by Isaiah Jackson. The book discusses in-depth how Bitcoin can benefit to the financial autonomy of African-Americans.
24 February, 2020 | AtoZ Markets – The African American community has mostly been born into an unfavourable economic situation, with an inherited financial system fueled by unethical practices like redlining, among many others. However, cryptocurrencies can allow them to level the playing field.
Bitcoin and Black America Discuss in Depth the Ways Cryptocurrency
Jack Dorsey, CEO of Twitter, is no stranger to the controversy. His platform currently hosts 330 million people worldwide, and His individual subscribers are just over 4.3 million. On Sunday, he also used this influence to promote a new book on the potential benefits of Bitcoin for the African American community. The book is called Bitcoin & Black America, written by Isaiah Jackson.
However, Jack Dorsey encourages his Twitter followers to take a closer look at this new book. Dorsey draws attention to the challenges that racial minorities often face with the legacy financial system.
Jackson published the book last July. But it also renewed interest, possibly due to the resurgence of the crypto market.
Bitcoin’s Potential to Benefit
The book gives an in-depth analysis that the cryptocurrency can play in bringing financial independence to African Americans. Author Isaiah Jackson also notes that black people have traditionally very underserved by the banking industry. But they have been slow to turn to blockchain assets as an alternative.
According to Jackson, one of the problems is the perception of the cryptocurrency within the African American community. They’re viewing Bitcoin as a scam or that it no longer exists, with new systems continuing to exploit the lack of regulatory oversight that has been emerging in the news. Misinformation, coupled with a lack of access to banks, has made investing in cryptocurrency a challenge for blacks in the United States. Jackson says this needs to change in the future.
According to Jackson, the change will require a deep understanding of African Americans. Moreover, they no longer require the current banking system to maintain their wealth.
With such a valuable opportunity, African-Americans and other racial minorities in the United States should quickly embrace cryptocurrency. Unfortunately, adoption has been slow. As Jackson points out, misinformation has been an issue in their communities. Besides, the lack of access to banking services also made it difficult to buy and invest in cryptocurrency.
There is no doubt that the tide is turning. The adoption of cryptocurrency is spreading across all segments of American society. Moreover, there is clearly a need for increased financial freedom, and more and more non-whites are learning what this new asset has to offer. Cryptocurrency will not leave the disadvantaged behind.
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