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State of Louisiana: Thank You Satoshi Nakamoto for your contribution to "economic security"

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Shivangi Mujumdar

CBW -External Analyst

INDIA

May, 03 2021

May, 03 2021

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According legis.la.gov, the report states that the state of Louisiana has admired Bitcoin for its achievement through the years. It is outlining how BTC has developed an important tool for citizens and industries. (Latest on 25-April-21) 

 

The rule passed that the House Resolution No. 33, signed up by Representative Mark Wright, praises BTC’s success over the years and its pseudonymous creator, Satoshi Nakamoto, for his contribution to economic security. 

 

State Resolution Knowing Satoshi and Bitcoin 

 

The resolution stays to describe numerous qualities of bitcoin, initial with its making in 2008 by the pseudonymous author Satoshi Nakamoto. 

 

Perceiving that the cryptocurrency could replace gold as a financial reserve, the document highlights bitcoin’s finite stream, noting that it is “totally decentralized” and permits for secure transactions without the requirement for a trusted third party. 

 

It furthermore notes that not only has Bitcoin confirmed to be a serious tool for businesses, but it has also proven to be a serious tool for citizens around the world to defend themselves from currency debasement. 

 

The resolution remarks another cryptocurrency other than bitcoin, Moxey, which it defines as - a proprietary digital community currency designed in Louisiana. Its website states that “Moxey is a community of thousands of commercial owners who care for one another and, most significantly, can purchase and sell among each other without spending cash. 


In its place, they use their very own communal currency as the Moxey dollars. 

 

Updated news:
Louisiana with Miami to show support for Crypto 

 

Louisiana is one of the few US states to support crypto assets publicly. A month ago, Miami Mayor Francis Suarez thought his city was required to become a crypto capital. 

 

As described, Suarez is open to capitalizing 1% of the city’s treasury reserves in Bitcoin —moreover working with municipal workers to receive tax payments in BTC. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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