Ohio Congressman Aims to Tame ‘Wild West’ of Cryptocurrency
Cryptocurrency has the potential to change the way the world does business
An Ohio member of the U.S. House’s Financial Services Committee has seen the future, and it’s in crypto.
Rep. Warren Davidson, a Troy Republican in his third term, previously made a reputation for himself primarily as a stalwart member of the House Freedom Caucus. And in cryptocurrency — a digital currency or asset that uses encryption techniques for regulation and verification — Davidson has found an important legislative issue and a need that he hopes he can fill.
Cryptocurrency — bitcoin is one example — was created in the aftermath of the financial meltdown by a group of renegades frustrated by the power held by banks. As an alternative to common banking, they began creating a decentralized currency that used the blockchain — a distributed and public peer-to-peer digital ledger that can record transactions over many computers to protect the transaction through added transparency.
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