Texas Is Resolute On Being a World Leader in Bitcoin And Blockchain

Source: pelicoin.com

With the cancellation of bitcoin mining by China, Texas is advantaged, and has continually grown and has 70 members, with Lee Brachter as the president. This organization is poised to become the world leader in bitcoin and blockchain.

Texas and Blockchain Technology

Next Friday 8th, 2021, Lee Brachter will host one of the largest blockchain summits ever, the Texas Blockchain Summit. Moreover, bitcoin and the continued growth of blockchain technology will surely benefit Texas. This organization is among the best world economies. 

Its team is consists of Senators; Ted Cruz, John Cornyn, and Cynthia Lummis. The Governor is Greg Abott, who has already held two meetings with the Texas Blockchain Council.

In his recent Twitter post, Abott commented that Texas will be the leader in crypto. This shows how resolute they are in making their organization the top in bitcoin and blockchain across the world.

Moreover, H-E-B’s decision to have cryptocurrency kiosks in some of the organization’s grocery stores clearly shows how they are embracing cryptocurrency.

Why is Texas a World leader in Bitcoin and Blockchain?

According to Lee Brachter, the President of the Texas Blockchain Association, their organization is resolute on being the world leader in bitcoin and blockchain for various reasons.

For starters, the organization has a conducive business climate that allows innovations in bitcoin. They have worked on this for several years. 

Moreover, the Texas Blockchain Council has put in lots of effort and worked together with lawmakers in the creation of a legal framework. This, in turn, gives room for entrepreneurial innovation. Among the parties involved in this legal framework include Tan Parker, the representative, and Senator Angela Paxton.

Additionally, there were new appointments of four experts who will help with matters blockchain. This is a team of professors, both from state officials and academic universities.

Another thing that places Texas at the top of bitcoin and blockchain technology is its continued and surprising growth. For instance, their annual G.D.P in 2020 was about $1.75 trillion. This is a significant growth in the century. In 2000, its GDP was just above $998 million, and 20 years later, it has increased by 70.6%. Therefore, their current GDP is among the highest sizes, hence, ranks Texas among the best world economies coming 9th or 10th globally. Evidently, cryptocurrencies sure will help Texas keep growing.

Another great news is that each Texas state-chartered bank has already received a letter from the Commissioner of the Texas Department of banking which authorizes them to custody cryptocurrency. This, therefore, means that all their authorized banks can store cryptocurrencies. 

Moreover, Texas has great ambitions too and is continually working to achieve them. Its blockchain council with the President, Lee Brachter as the leader has made known its idea of amending the constitution so it allows Bitcoin to pay property taxes to Texas.

Texas Could Become the World Leader in BTC

Texas has increasingly grown over the years, with a GDP among the top 10 globally. Its resolution to becoming the world leader in bitcoin and blockchain should, therefore, not be underestimated since the organization has huge growth potential.