Isaiah Jackson, founder of KRBE Digital Assets Group and author of Bitcoin & Black America, believes that bitcoin can play a crucial role in addressing economic disparity, primarily in African-American communities in the United States. Amid social protests across the US, the author gave an interview this week to Coindesk in which he unveiled the role that Bitcoin can play in improving the lives of African Americans.
According to the author, "Police violence is terrible, and it is not something that can simply be solved with bitcoin. But some of these solutions that I have seen that can work for the black community have their roots in the group economy."
"Living in Los Angeles, I learned from places like Koreatown, Chinatown, and smaller communities like Little Ethiopia that understand how the group economy works, that the ability to circulate dollars in a community makes everyone rich and inherently self-sufficient. Bitcoin offers. a similar dynamic.
Jackson sets an example for community churches, compared to the Catholic church that has billions of dollars in gold and real estate, the "black church" (sic), lacks long-term tangible assets. More than 80% of the African American community attends some type of group service. If the church starts accepting bitcoin donations and stores them, that could help support the community in the long run. "You can't stop Bitcoin," the author claims."
For Jackson, "voting is really just an illusion of democracy, nobody is really electing their leaders." And he adds that at the local level, "it is necessary to get money out of politics, where middle-level politicians can co-opt the vote. Fundraising should be standardized, and everyone should only be allowed to give the same amount." That's where blockchain can be effective, so you can track how much and where the money is coming from, without manipulation.
Finally and in reference to blockchain, Jackson believes that "there are some interesting projects that allow promoting decentralized communities. Most of these projects are not yet well developed, so for now they may be as effective as Bitcoin. But there are projects based On Ethereum, the second largest blockchain, such as smart contract-based voting that could improve local politics.