Why Democrats Should Love Bitcoin

A few weeks ago, I opined on why Republicans should love bitcoin. Thankfully, though, the GOP aren’t the only ones invited to the party. That’s the nature of bitcoin: it has something to offer to everyone. To illustrate, each section of this article begins with a quote taken directly from the Democratic National Platform, followed by a discussion of how bitcoin can address the issue in question.
Wall Street
For too long, we’ve had a financial system that stacked the deck against ordinary Americans. Banks on Wall Street played by different rules than businesses on Main Street and community banks… That behavior not only nearly destroyed the financial system, it cost our economy millions of jobs, hurt middle class and poor families, and left taxpayers holding the bill… A strong middle class can only exist in an economy where everyone plays by the same rules, from Wall’ Street to Main Street.
It’s not difficult to understand how Wall Street became so powerful. When both the currency itself and the mechanisms of its exchange fall under the domain of centralized control, corruption and inequality abound. With bitcoin, we don’t have to quibble about who’s playing fair and who’s not. There’s no need to worry about Wall Street fleecing, swindling, or otherwise antagonizing the populace at large.

This post was published at Bitcoin Magazine on OCTOBER 31, 2014.