New schools incoming mayor crypto should

By Victor Omondi

New York City’s incoming mayor, Eric Adams, has a lot of plans for the city, and one of his plans, if implemented, could influence what’s taught in schools.

A few months into taking office, Adams said he’s got plans to transform New York City into a crypto-friendly city.

The push comes after the mayor-elect said he came across young people in the streets who couldn’t tell what Bitcoin and blockchain are.

“When I talked about blockchain and Bitcoins, young people on street stopped and asked me, ‘What is that?’” Adams told CNN on Sunday. However, when challenged to explain what that is, he said that even experts could find a challenge in explaining it.

According to the incoming mayor, Bitcoin refers to a “new way of paying for goods and services throughout the entire globe.” He then said “that’s what we must do – open our schools to teach the technology and teach this new way of thinking.”

The 61-year-old mayor-elect was also asked about what cryptocurrency he’d suggest for businesses within the city. He said, “We are going to look at it, and we are going to tread carefully. We are going to get it right.”

Adams added that his first few salaries as mayor will come through Bitcoin and make more adjustments in the city, including establishing a pipeline of crypto-related jobs which will encourage the blossoming of Bitcoin.

The city also seeks to become Miami’s rival, which is significantly growing because of crypto jobs. The mayor intends to set up the New York City coin to a value that’s similar to the “Miamicoin.”

However, the mayor’s enthusiasm for cryptocurrency has received criticism after some folks said the plan would set NYC’s economy tumbling down.

“It also seems like a conflict of interest. Like a mayor announcing, ‘I’m buying a lot of Amazon stock and then going to put in places policies to benefit Amazon,” said Jason Furman, professor at Harvard University and a former member of the Council of Economic Advisors during the Obama administration.

https://www.bloomberg.com/news/articles/2021-11-07/nyc-mayor-elect-adams-says-crypto-should-be-taught-in-schools

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