The U.S. state of Louisiana has passed a resolution to commend bitcoin for its success as well as commend the cryptocurrencyâ€™s pseudonymous creator, Satoshi Nakamoto, â€œfor his contribution to economic security.â€
State Resolution Recognizing Satoshi and Bitcoin
The Louisiana House of Representatives resolution by Representative Mark Wright entitled, â€œCommends Bitcoin and the cryptocurrency industry,â€ has been enrolled and signed by the Speaker of the House. House Resolution 33 (HR 33) reads:
The resolution proceeds to describe various attributes of bitcoin, starting with its creation in 2008 â€œby the pseudonymous author Satoshi Nakamoto.â€ Noting that the cryptocurrency â€œcould potentially replace gold as a monetary reserve,â€ the document highlights bitcoinâ€™s finite supply, noting that it is â€œcompletely decentralizedâ€ and allows for secure transactions without the need for a trusted third party.
It additionally notes that â€œnot only has Bitcoin proven to be a critical tool for businesses, it has proven to be a critical tool for citizens around the world to protect themselves from currency debasement.â€
The resolution mentions another cryptocurrency other than bitcoin, Moxey, which it describes as â€œa proprietary digital community currency invented in Louisiana.â€ Its website describes that â€œMoxey is a community of thousands of business owners who support one another and, most importantly, are able to buy and sell among each other without spending cash. Instead, they use their very own community currency; Moxey dollars.â€
In conclusion, Louisianaâ€™s House Resolution 33 states:
What do you think about this House resolution commending Satoshi Nakamoto and Bitcoin? Let us know in the comments section below.
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