Governor of Texas, Greg Abbott According to CoinEdition

© Reuters ‘Bitcoin is good for the grid’: Texas Governor Greg Abbott
  • The governor of Texas claims it’s good for the grid.
  • Texas aspires to become the hub of Bitcoin development in the country.
  • The state is promoting and promoting Bitcoin and blockchain for innovation including amending and passing regulatory legislation.

Texas Governor Greg Abbott recently expressed his support for Bitcoin. In a clip posted by Bitcoin informative Twitter account, Bitcoin Docs, Abbott shared that Texas aspires to be at the center of all Bitcoin action.

The governor says that the state of Texas sees the future of Bitcoin and what it means for the entire world. Abbott adds,

Texas wants to be at the center of that.

He continued that Texas is promoting and growing Bitcoin while trying to provide a platform for industry participants including blockchain and Bitcoin to ensure that they have a place to go.

Texas wants to create a frictionless platform that comes with greater regulation to enable business operations to be conducted easily and at the same time to foster innovation. He plans to continue promoting “the most cutting edge innovation in the world today” that is Bitcoin and blockchain.

When asked by an interviewer what Abbott did to allow Texas to become a Bitcoin country, he replied that besides being open to technology, Texas has passed legislation that allows for easy conduct related activities. regarding Bitcoin.

Additionally, Abbott shared that Texas has set up a working group that will focus on the type of legislation that will make the state more attractive to cryptocurrencies. Furthermore, Texas does not want to over-regulate and identify as anti-regulatory.

However, the state aims to provide an infrastructure in which blockchain and Bitcoin will be able to succeed. He announced that Texas has an open and independent electricity grid, unlike most states in the country whose electrical structure is tightly regulated like a single utility program in the state.

Furthermore, residents of Texas have the freedom to purchase electricity from a local electricity supplier, which provides an opportunity for others to cut power when there is a great need for electricity during a thunderstorm, for example.

A resident engaged in Bitcoin will not suffer significant losses due to a lack of electricity, compared to an electricity-dependent industry like a hospital. Thus, Abbitt claims that Bitcoin is good for the grid.

‘Bitcoin Good for the Grid’ Post: Texas Governor Greg Abbott appeared first on Coin Edition.

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