Letter in Support of Responsible Fintech Policy
I can only predict that both the people signing this letter and the crypto maximalists are going to be very disappointed that this will somehow be the end of all cryptocurrencies or the full adoption and dismantling of the current system with one cryptocoin being a reserve currency. An example of such is where the critics were screaming over the so-called NY bill on &#x27;banning&#x27; of PoW [0], but it turns out that not only it doesn&#x27;t affected PoS cryptocurrencies, but only affected PoW with carbon methods and not via renewable methods.<p>As for the same letter [1] being pushed by critics like Grady Booch, ghuntley, Molly White etc al. who many here know in the industry, we would like to also know the ones who are left blank like <i>&#x27;Darren W. Seng&#x27;</i> and <i>&#x27;Stephen Diehl&#x27;</i> who are <i>the</i> most extreme and prominent names arguing against crypto. But it turns out that they seem to be connected as C-level executives and co-founders of a private blockchain startup named &#x27;Adjoint&#x27; [2] that appears to be in direct competition with public blockchains like Bitcoin, and especially Ethereum.<p>Again it&#x27;s very strange to see why that wasn&#x27;t mentioned in the first place and why it&#x27;s only specifically &#x27;public blockchains&#x27; and not all blockchains both &#x27;public&#x27; AND &#x27;private&#x27;? This critic [3] seems to attack both of them and doesn&#x27;t see any difference to them at all. Any idea why all of that including something called &#x27;nanocoin&#x27; was deleted and scrubbed off of the internet?<p>Maybe cryptocurrencies like Ethereum (which has smart-contract capabilities) are the reason why the folks at Adjoint are eternally at odds with the crypto industry and are dedicated every single day to totally getting rid of all cryptocurrencies? I&#x27;m sure many have tried going down this path and Seng, and Diehl seem to have already deleted their repositories and associations [3] with the whole of Adjoint to pursuing this long utopian conquest and bringing others on board.<p>These crypto-assets for sure will be regulated, but once again the goal of getting rid of all of them is a similar path that has been trodden by the free-software activists, anti-IoT activists, privacy activists, anti-AI activists and anti surveillance-capitalism activists etc before them and it has resulted in co-existence rather than a complete and total removal or outright total ban on what they were against. Cryptocurrencies are no different and will co-exist rather than wither away. In this latest push, at least they learnt their lesson with this failed petition in the UK [4].<p>[0] <a href="https:&#x2F;&#x2F;www.nysenate.gov&#x2F;legislation&#x2F;bills&#x2F;2021&#x2F;A7389" rel="nofollow">https:&#x2F;&#x2F;www.nysenate.gov&#x2F;legislation&#x2F;bills&#x2F;2021&#x2F;A7389</a><p>[1] <a href="https:&#x2F;&#x2F;concerned.tech" rel="nofollow">https:&#x2F;&#x2F;concerned.tech</a><p>[2] <a href="https:&#x2F;&#x2F;www.crunchbase.com&#x2F;organization&#x2F;adjoint-inc" rel="nofollow">https:&#x2F;&#x2F;www.crunchbase.com&#x2F;organization&#x2F;adjoint-inc</a><p>[3] <a href="https:&#x2F;&#x2F;medium.com&#x2F;@johny.codes&#x2F;private-blockchains-even-worse-crypto-babble-scams-478e9c783b1b" rel="nofollow">https:&#x2F;&#x2F;medium.com&#x2F;@johny.codes&#x2F;private-blockchains-even-wor...</a><p>[4] <a href="https:&#x2F;&#x2F;petition.parliament.uk&#x2F;petitions&#x2F;601629" rel="nofollow">https:&#x2F;&#x2F;petition.parliament.uk&#x2F;petitions&#x2F;601629</a>