HomeBlockchain TechnologyHow Does Eric Adams Plan to Use Blockchain?

How Does Eric Adams Plan to Use Blockchain?

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Eric Adams has long been a crypto fan. As the mayor of New York City, arguably one of the biggest cities in the world, Adams goes against what many of his democrat constituents in the region say and do regarding crypto. For them, the asset is something to be banned and ignored, while Adams has gone so far as to claim BTC should be taught in public schoolrooms.

Eric Adams and Blockchain: What Are the Possibilities?

The enthusiasm of Adams appears to be landing on the people that now work with him and for him. Not long ago, Jennifer Gutierrez – a city council member – called for an oversight hearing into blockchain technology and how Adams wants to use it in future NYC operations. In her opening statements on the panel, she commented:

We must do our due diligence to not only understand cryptocurrency and blockchain technology, but also make sure New Yorkers can properly access the necessary information to safely navigate these novel technologies. Today’s hearing aims to draw in any vision for both technologies, ensuring that as a city, we are giving thoughtful consideration to this potentially transformational technology and industry, rather than refusing to exchange because the issues are complicated and not yet fully formed.

The city’s chief technology officer Matthew Fraser is also becoming a blockchain fan, saying it could be a powerful tool in driving New York City forward. He said:

In addition to the blockchain industry helping New York City’s economy recover from the lingering effects of the pandemic, blockchain technology has the potential to streamline and centralize document retention, enable real-time record consolidation, and support asset transfers, among many other applications. New York City has proudly been a pioneer in embracing the blockchain industry, as it evaluates the potential government applications and plants a flag as a viable home for blockchain companies that can grow our economy and hire new workers.

The Adams administration has now been without controversy. One of the blockchain uses his team has proposed is using it to track what kind of food users are buying and then gather the information to educate them about healthier behavior. While the intent may be noble, this can be considered a clear invasion of privacy. Fraser commented on this by saying:

Imagine for food benefits, if you had a digital wallet where you went out and spent a dollar on vegetables or something healthy versus sugary snacks or soda. The city could provide incentive points, meaning, dollar-matching, dollar-for-dollar, for what you spend on healthy products.

Don’t Spy on People!

Queens republican and city council member Vickie Paladino also threw her two cents in, saying:

I don’t like the idea that you’re going to monitor people’s spending habits, whether they choose to buy healthy food or a bag of potato chips.

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Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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