Jason Osborne is the New Hampshire House of Representatives Majority Leader.
To say America is divided may be an understatement, and the idea of national Republican and Democrat leaders coming together on one stage to have a civil conversation about one of the most important economic and security issues facing our nation would likely shock most of the readers of this paper. But that’s exactly what happened in Manchester.
This past December, at the New Hampshire Institute of Politics at St. Anselm’s College, presidential candidates from both parties gathered to address the emerging cryptocurrency economy and the growing crypto and blockchain community in New Hampshire at the inaugural Stand with Crypto Bipartisan Presidential Forum.
Attendees heard from former Arkansas Republican Governor Asa Hutchinson, Democratic Congressman Dean Phillips, Republican businessman Vivek Ramaswamy, and New Hampshire elected leaders as they addressed the new wave of blockchain technology that is paving the way for the next generation of the internet — and why America must be a leader in this evolution.
The benefits are undeniable. Keeping crypto innovation right here in America will mean four million American jobs over the next seven years by preventing the shift of web development jobs overseas. But that growth is not guaranteed.
Not so long ago, America sat by while semiconductor manufacturing shifted overseas. Today, 92% of advanced semiconductor production is located in Taiwan and South Korea. We cannot allow history to repeat itself, and America cannot again be placed behind the eight-ball and sidelined from the future of the global financial system.
However, that is exactly what will happen if we continue down our current path. While 98% of the global economy is exploring digital currencies, the United States is falling behind. Thankfully, Americans are making their voices heard loud and clear. A majority of Americans want crypto companies to be U.S.-based, while nearly three-quarters of Fortune 500 executives prefer American-based partners for crypto.
These statistics are encouraging. Not long ago, phrases like “crypto” and “blockchain” would have been foreign to nearly all of this paper’s readers, but today the crypto community exceeds more than 52 million Americans nationwide, and New Hampshire has emerged as a national leader in the crypto economy.
Today, approximately 15% of New Hampshire adults hold crypto. Two-thirds of New Hampshire crypto owners say innovation using blockchain technology can have a positive impact for American consumers. Granite Staters understand that crypto and blockchain technology is a key tool to the future of global finance, which is why the First-in-the-Nation state was home to the first-of-its-kind crypto presidential forum.
Republican and Democratic presidential contenders were attracted to this inaugural event because the explosion of our cryptocurrency economy has not been isolated to one political party or one ideology. Nationally, approximately one in five Republicans, Democrats, and independents own cryptocurrency. And here in New Hampshire, crypto owners are equally split along party lines, with 37% identifying as Democrats and 37% identifying as Republicans.
As a state representative involved in advancing innovative crypto legislation in New Hampshire, I take pride in our state’s rich history of leading the way in financial system reform. Spearheaded by dedicated individuals like Representative Keith Ammon, we have consistently taken substantive steps, including Governor Sununu’s establishment of the Commission on Cryptocurrencies and Digital Assets. However, it is disheartening to witness the lack of similar initiatives on a national scale. We cannot allow this to continue, as inaction puts millions of good-paying American jobs at risk while driving innovation offshore.
In my role as majority leader, working alongside dedicated colleagues, I emphasize the urgent need for bipartisan national leadership on cryptocurrency. While Governor Sununu and Concord officials make strides in advancing financial system reforms, our national counterparts are falling behind. Immediate action is crucial to prevent the risk of losing millions of American jobs and driving innovation offshore….
Read More: Concord Monitor – Opinion: The expanding cryptocurrency economy and its