Effectively advocating for the advancement of crypto and blockchain
The past week has been a whirlwind for many in the crypto and blockchain space as the U.S. Senate debated a highly contentious provision in the must-pass infrastructure bill related to crypto. As written, the fear was that the provision would force all parties that participate in the processing of transactions, such as validators, miners, and developers, to abide by unrealistic and impossible reporting regulations. As the week progressed, many amendments were proposed to alter the language in this provision, but ultimately, it was all for nought as the amendments were shot down by one Senator from Alabama, the 87-year-old Richard Shelby.
This raised valid concerns among the crypto community that those legislating cryptocurrency have no idea how crypto or blockchain work, and risk killing innovation as a result of their ignorance. One benefit, however, that came from this, was recognition by the community of the importance of organizing to effectively advocate and lobby for the advancement of crypto and blockchain.
So, how does one effectively advocate not only to those in positions of power, but also to everyday citizens who have yet to learn about crypto and blockchain, and don’t understand the important role it will play in the future of the world?
Challenging prevailing narratives
One important tactic when advocating for the advancement of crypto and blockchain, is to identify prevailing narratives, and counter them. With crypto, there are several prevailing narratives that are common in the political sphere, and in society more generally:
“It is only used by scammers and criminals”
“It is an environmental catastrophe that will speed up climate change”
“It is overly-complicated, and only understood and used by shady dark-web coders”
“It has no intrinsic value, and will undoubtedly lead to significant losses for investors when the bubble inevitably pops”
“It is not secure enough to reliably be used as a financial instrument”
While crypto and blockchain evangelists understand how ludicrous the above statements are, many continue to advance them. This could be because leading power-brokers are funded by those who have much to lose by the advancement of crypto, such as legacy financial institutions. Beyond these individuals, however, there are many who genuinely don’t know anything different, because these narratives are pushed so hard by the media and those in positions of power.
It is important to push back against these false narratives by providing factual evidence supporting the positive side of crypto and blockchain, including the enormous benefits of a decentralized financial system, the myriad use cases of blockchain in addressing real world problems, and the hundreds of projects currently underway that are doing real good in the world.
Challenge, but don’t shame
When communicating with friends, family, and coworkers, try to take a positive approach to advocacy that involves respectfully challenging them, but not shaming them. If there is one thing that has become abundantly clear in the past several years, as political divisions have only widened worldwide, is that cognitive dissonance is real, and that shaming or looking down upon someone for their view will only encourage them to dig in their heels and put up their walls.
Keep in mind that many truly don’t know the other side of the story, as they have been accustomed to the prevailing narrative. As a successful advocate, your job is to recognize this and provide them with a positive alternative, not to shame them.
Organization is key
Advocating to your friends and family is one thing, but when it comes to those in positions of power, such as legislators, it is a whole other ball game. Effectively lobbying those in positions of power requires a high degree of organization, coordinator, and, unfortunately, funding.
Those fighting for the legacy financial systems have deep pockets, and a highly coordinated network of lobbyists advocating on their behalf. To fight back, the crypto and blockchain community will need to take a page from their playbook and do the same. Key players in the community will need to come together, form alliances, and coordinate their lobbying approach. It is no time for maximalists to fight over which crypto is best, but to recognize that effective lobbying will require them to set aside their differences and work towards their common goal of the advancement of crypto.
Effective lobbying also requires funding, and fundraising efforts will need to be undertaken to support awareness campaigns, phone and email campaigns to lawmakers, formal lobbying efforts, advocacy events, and more.
Little efforts can, and do, make a big difference
Finally, when it comes to lobbying, it’s important to recognize that little efforts, such as phoning or emailing your local representative, truly do make a difference. It is common for staffers receiving the emails and phone calls to keep a tally of those in support of or against the issue, which they will present back to their boss.
While it may seem like a fool’s errand when those you're writing to are receiving millions of dollars in donations from those representing the other side of the issue, it truly does make a difference. There have been numerous examples where legislators have changed their mind on issues due to successful phone and email campaigns. When they see that an overwhelming number of individuals support a significant cause, they are all the more likely to further research it (or have their staffers further research it), and to support it. After all, politicians are accountable to their voters, and if a large percentage of voters don’t like something they are doing, it doesn’t bode well for them and their future election chances.
As the crypto and blockchain community is relatively new, and lacks the formal coordination that many other communities have such as lobbying groups and professional associations, it will be an uphill battle to change the positions of lawmakers, power brokers, and the general public. However, it is a winnable battle, and if I’ve learned anything from those in the space, it is a battle that will be won. The potential of crypto and blockchain to help shape a better world is abundantly clear, and with effective advocacy and lobbying efforts, the prevailing narrative will change in time.
What are some other important strategies to consider when it comes to advocating for the advancement of crypto and blockchain? Tweet us at @Crypto_Altruism to let us know what you think, we’d love to hear from you!
