Congressional Hopeful Agatha Bacelar Talks Silk Street on the Bitcoin.com Podcast 

Congressional Hopeful Agatha Bacelar Talks Silk Road on the Bitcoin.com Podcast 

“It’s clear that the political institution desires to carry again a future the place financial freedom is afforded to all.” This excerpt from Congressional hopeful Agatha Bacelar’s marketing campaign donation web page echoes what many inside the cryptosphere have been saying ever since Satoshi Nakamoto dropped the Bitcoin whitepaper in 2008 – and what many libertarians have been trumpeting for many years.

Additionally learn: FBI Says Bitcoin Concern Is Getting ‘Greater and Greater’

Bacelar Lays the Smackdown

The truth that Bacelar, who has set her eyes on Home Speaker Nancy Pelosi’s seat within the California Congress, seeks to boost $1 million in crypto is critical. Stanford-educated and an engineer by commerce, the 27-year-old Brazilian-American understands blockchain expertise like few politicos earlier than her, having labored with digital governance platform Democracy Earth. This nonprofit seeks to vary the political system by constructing open-source, censorship-proof democracies, and grew out of what Bacelar describes as a “malicious program” political occasion in Argentina. Uniquely, the occasion used blockchain tech to discipline candidates who weren’t a lot representatives of the folks as, properly, the folks themselves.

Congressional Hopeful Agatha Bacelar Talks Silk Road on the Bitcoin.com Podcast

Bacelar was lately invited on to the Bitcoin.com podcast and, evidently, the subject of cryptocurrency got here up greater than as soon as. “I can see why it’s very scary to introduce cryptocurrency to central banks as a result of it kicks them within the knees,” she stated. “However I believe for a more healthy world we want extra public banking, public financing of issues quite than having the facility consolidated by central banks.”

As for the day-to-day advantages of utilizing cryptocurrency, they’re self-evident: “Every time I need to pay my lease it takes every week for my cash to switch to my landlord’s checking account. We could possibly be having quicker international forex that doesn’t take 10% for a intermediary.”

New Hire to Head Digital Currency Research at the Fed

Audit the Fed

Many listeners would have been eager to listen to the candidate’s ideas on how distributed ledger applied sciences could possibly be used to revamp the complete system. Host Matt Aaron beat his visitor to the punch, suggesting that publicly auditing the Federal Reserve is likely to be an excellent place to begin. “Yeah, that might,” Bacelar concurred. “Doing extra participatory budgeting, letting folks have a better say on how we use our tax {dollars}.”

“Proper now, we lose info each time a transaction occurs. Whereas, I might hope with cryptocurrencies, if you happen to purchase an iPhone, you’d know whether or not this telephone was made at a manufacturing facility the place three folks dedicated suicide, or whether or not the assets have been mined in a spot that used human slavery or contributed to air pollution in that bio-region.

“You recognize, these issues usually are not mirrored in the price of issues immediately, however I believe in a future world they could possibly be. And that might lead us to a extra regenerative, sustainable financial system.”

Not Your Common Congressional Candidate

The backstory of Agatha Bacelar is slightly totally different to most would-be politicians – simply 3% of Home Representatives presently come from a STEM background, for starters. In addition to her expertise with blockchain, she’s labored for social change group Emerson Collective and Hope Credit score Union, a banking establishment that gives monetary companies to low-income candidates. Bacelar’s father is Herb Stephens, a software program entrepreneur who, having labored within the nonprofit sector for plenty of years, now acts as her Finance Director.

Trump rode to the White Home on a hubristic ticket, with an oft-repeated boast that – not like the opposite candidates – he “knew cash.” Maybe Bacelar may additionally revenue from figuring out the way forward for cash – cryptocurrency – and having an consciousness about how the underlying expertise may inform the physique politic. “I wish to be a member of Congress that makes choices knowledgeable by how folks would vote on an open-source digital platform in actual time,” she says, “as a result of proper now there isn’t accountability in our politics. There isn’t transparency, and persons are writing off politics and or feeling so annoyed with it. However I believe folks can characterize themselves or proxy their vote to folks they belief and know of their neighborhood.”

The Injustice of the Silk Street Trial

At one stage within the dialogue, Bacelar segues from addressing the absurdity of criminalizing medicine like marijuana to discussing Silk Street. “Ross Ulbricht is incarcerated proper now for 2 life sentences plus 30 years for nonviolent crime, the place he didn’t even do any of the drug transactions on there.”

As an enthusiastic pro-crypto voice, Agatha Bacelar is a breath of recent air. Whether or not she has a sensible probability of turfing out Pelosi stays to be seen. Regardless of the final result, you get the sense that Bacelar acknowledges the power of cryptocurrencies – and blockchain expertise extra typically – to basically reshape society. For public ledgers to introduce better accountability in companies and authorities businesses. For sound entry to finance to be obtainable to all. For profit-offshoring, cash laundering and tax evasion to be successfully addressed.

The ultimate phrase goes to Bacelar: “We have to decentralize energy and get folks to take part in our democracy. A democracy is strongest when most individuals interact in it.”

What are your ideas on Agatha Bacelar’s tackle Silk Street and the advantages of bitcoin? Tell us within the feedback part beneath.


Photos courtesy of Shutterstock.


Do you know you may confirm any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer instrument? Merely full a Bitcoin handle search to view it on the blockchain. Plus, go to our Bitcoin Charts to see what’s occurring within the business.

Tags on this story

Kai Sedgwick

Kai’s been manipulating phrases for a residing since 2009 and purchased his first bitcoin at $12. It is lengthy gone. He is beforehand written whitepapers for blockchain startups and is particularly curious about P2P exchanges and DNMs.

Leave a Reply

Your email address will not be published. Required fields are marked *