As far as the Donald Trump administration’s economic policies are to be concerned, a primarily fiat oriented plan was to be expected. While this remains true and is reflected by the unusually strong dollar currently trading against the Pound sterling at some of the strongest conversion rates around. However in an unexpected appearance at the DC blockchain summit, Mark Calabria, the chief economist for the vice president represented the trump administration in an unannounced appearance. Calabria stated the position on Bitcoin and other various cryptocurrencies as promising, encouraging users and companies that the state will do what needed to avoid constriction of the developing industry.
The cryptocurrencies were hailed as the potential solution for many federal agencies and even David Schweikert, an Arizonian republican expressed his interest in the potential for cryptocurrencies to consolidate the relationship between academics and government. Realizing the potential freedom the cryptocurrency can bring to both left wing and right wing groups alike.
“We’re very interested in helping to facilitate the deployment of blockchain technology in federal agencies and across the government,” said co-chair Jared Polis, a Democrat from Colorado.
To conclude the encouraging outlook set out by the trump administration has renewed faith surrounding the future of cryptocurrencies in the country. While no regulation or law surrounding the use and purchase of cryptocurrencies is yet to be implemented, the promising signs hint at a potential for a relaxed policy on cryptocurrencies itself. While the administration emphasized the role of private corporations and their responsibility to innovate and expand the horizons, it also stated it would be willing to do what is necessarily to perpetuate developments made in adopting the cryptocoins. The DC Blockchain Summit remained one of the biggest dates on the Bitcoin calendar attracting 450 developers from a wide range of professions e.g., developers and financiers representing the expanding user base growing on Bitcoin infrastructure in the United States.