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Scott Tindle: Alabama can harness the crypto, blockchain boom



In recent years, Alabama has become a hub of innovation and excitement. From aerospace to automotive to agriculture, Alabama is uniquely positioned to lead the nation in many important industries that will define this century and beyond. One such industry is the burgeoning market for digital assets, such as cryptocurrencies, that is sweeping across the United States.

Cryptocurrencies, or “crypto”, use blockchain technology to process financial transactions. Instead of banks or governments controlling your money, a decentralized “blockchain” stores information about each transaction and ensures it can't be changed by outside parties. In other words, no one can control what anyone else does with their assets.

I host a weekly show called “Beyond the Blockchain” on Mobile's Talk 106.5, so I know firsthand that Alabamians are interested in cryptocurrency, but even I was surprised by recent Morning Consult data showing that nearly 700,000 Alabama adults own digital assets like cryptocurrency — roughly 18% of the state's growing population.

As an attorney, I have many clients asking how they can incorporate blockchain and other crypto assets into their business and personal lives. Interest in crypto assets in Alabama has never been greater, and it is growing every day.

This excitement around cryptocurrencies in the state puts Alabama in a unique position to become a major hub for crypto innovation and job creation. However, some state officials are siding with anti-crypto politicians like Elizabeth Warren and Joe Biden, who want to continue to allow certain agencies to control the state's financial information, rather than bringing new industry and jobs to the state. Some are suing companies that help Alabamians buy, hold and use cryptocurrencies.

Fortunately, some of our state leaders are getting it. The State Assembly and State Senate recently held hearings on the potential that blockchain technology can bring to economic growth in the state, and Governor Kay Ivey recently signed a resolution to establish a Blockchain Research Commission. This is a major step forward, and I applaud our state's leadership in this area.

It is critical that all pro-crypto Alabamians speak up and urge our state leaders to stand with all Alabamians who own cryptocurrency to ensure our state remains a center of innovation and job creation in the nation.

Scott Tindle is a mobile-based attorney and advisor focused on the integration of blockchain technology and digital assets into businesses. Scott also hosts a weekly radio show, “Beyond the Blockchain,” on FM Talk 106.5. You can follow him on Twitter. Scott Tindle.

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