Eric Adams, the incoming mayor of New York, appears to be reaffirming his support for cryptocurrency. Advocating for cryptocurrency studies to be part of the educational curricula.
Adams defined bitcoin as “a new way of paying for products and services throughout the entire globe”. He said that during an appearance with CNN’s State of the Union on November 7. Local schools are being urged to prepare kids for “the new way of thinking”. That blockchain technology and digital assets are bringing about.
“We need to open our schools in order to educate technology and this new way of thinking.”
Adams also mentioned anecdotally that his youthful constituents were remarkably unaware about crypto. “When I mentioned blockchain and Bitcoins, young people on the street stopped and questioned, ‘What is that?'” remarked the Democrat, who is 61 years old.
He also said he would “tread carefully”. As well, “get it right” if he encouraged NY firms to take Bitcoin and other cryptos as a means of payment. New York must remain a “hub of innovation, no matter what that invention is,” according to the mayor-elect.
However, the crypto community has reacted to Adams’ words with conflicting emotions on social media.
Crypto studies “must” be part of the school curricula, according to user “nimadows“, who also claimed that prospective investors must have “an open mind and adequate understanding” before entering the digital asset markets.
Others opposed the proposal
Others slammed the idea, with “InnocenceCapit1” dismissing cryptocurrencies as “speculative rubbish”. They went on to say that schools should prioritise “effectively teaching arithmetic, history, physics, language, and practical financial principles first”.
Invoking previous accusations from Harvard economist Jason Furman, Twitter user “OnlyAPrimate” called Adams’ recent advocacy for digital assets as “sort of grifty”, considering Adams’ desire to collect his first three mayoral salaries in BTC.
“I admire Eric Adams, but I don’t think his job description includes pushing up a crypto-currency in which he is about to get paid.” They wrote, “It appears to be a little gritty”.
The policy plan of the new mayor involves making the city into a crypto centre in the United States. In a Wednesday interview with Bloomberg Radio, Adams also stated that he intends to investigate the possibility of establishing a local crypto coin in New York comparable to MiamiCoin.
New York would not be the first city in the United States to introduce a crypto-related academic programme. The Georgia House of Representatives passed a law in March of this year requiring state education authorities to develop a financial literacy curriculum in high schools that included cryptocurrency.