Bitcoin Influence on African American Public

Endy Callahan

In line with Isaiah Jackson, a prominent author, creating economic power can support the black community in means that cannot be demonstrated on the city streets.

If BTC is the proponent of the "peaceful protest" cryptocurrency, such as Changpeng Zhao, CEO of Binance, and writer Isaiah Jackson, claim, in that case in what way, can an ordinary person implement it to somehow support the community of African-American people currently?

As said by the Bitcoin & Black America writer, who stated on 4 June, everything begins with acquiring power, no matter if it is Fiat or digital assets like BTC.

Wealth inequality amongAfrican-American population and white citizens in the USA, formed by an extensive history of discriminatory practices, counting repeated racism and discernment in banks, likewise requires it to be addressed to stop calamities such as the killing of George Floyd. The author Jackson emphasizes the influence of the lack of such power in society:

"[ ... ] Without financial power, you have police officers approaching from outside the public, and they do not really appreciate it. The police force does not value your society. They do not accept you as an individual, and that is a big issue."

While Jackson stated he is not opposed to contributing for reasons — in the form ofcryptocurrency or cash-in funding of the demonstrations, investment should go more profound, counting in minor businesses possessed by black residents. The writer thinks that capital may assist in fighting law enforcement agency’s ruthlessness in diverse ways than moving to the streets:

"As for in what manner you cope with the oppressors, to my view, only two ways are possible: either to bankrupt them for cash — the state - or forcefulness [...] I consider the best alternative is money."

Contributing to a goal

It is known that protests like those happening at present in large cities in America and worldwide are causing an increase in interest in digital currencies.

Symbols inviting people to purchase BTC have by now emerged in many cities. Last August, it was reported that a movement that appeared in Hong Kong had forced several resident companies to adopt decentralized virtual assets.

However, financiers have to be cautious to confirm that their funds go to legal causes. One group as a minimum earns money in the name of George Floyd employing a personalized coin.

Jackson also listed cryptocurrency charity assemblies such as GiveBitcoin and BitGive as a prospective start:

"It could be fabulous if they joined the so-called movement Black Lives Matter, or I would dispute with a lot of other local organizations."

Mutual segregation

Slavery was banned in all States in 1865. African-Americans were officially freed, but that was when the policy of segregation began. White Americans tried to protect themselves from the presence of free blacks. To date, the situation has changed. However, as the protests showed, the issue of race is still one of the most pressing social issues. The reason for this is often the "invisible hand of the market.”

For full integration, as experts advised, half of African-Americans should change their place of residence. After all, racial segregation is closely related to socio-economic segregation: blacks live mostly in poor areas. The rules that apply to whites do not apply to blacks. This is why, African-Americans unite to resist discrimination. In the minds of many, the image of racist police officers seeking any excuse to attach themselves to innocent blacks is deeply ingrained. Hence, the distrust of the police forces appears from the black people’s side.

However, the actions of the police also find an explanation. According to statistics, blacks are responsible for half of all murders and robberies in the country. Nevertheless, they make up only 12 percent of the population. The reasons for this phenomenon are hotly debated in the United States. The correct mechanisms for solving this problem obviously have not been developed yet.