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US Senator Bernie Sanders believes that one day internet connection should be available to every American citizen just like electricity. This premise just might be a huge benefit to one unexpected player: Crypto.
“High-Speed Internet for All” must be the senator’s dream right now. A world where anyone and everyone has easy access to internet connection would be a great one to live in. Then and only then we would fully benefit from the unending potential the internet holds. Even more, then and only then would Bitcoin(BTC)trade and other cryptocurrencies see a true massive acceptance in the mainstream.
This is the stand of the senator, who is one of the most prominent presidential candidates of the Democratic Party, and who looks forward to providing high-speed internet across the United States of America. According to Senator Sanders, high-speed internet should be one of the basic rights of every American.
He went further to liken high-speed internet to electricity as seen during the Great Depression. Sanders argues:
“High-speed internet service must be treated as the new electricity — a public utility that everyone deserves as a basic human right. And getting online at home, at school, or at work shouldn’t involve long waits, frustrating phone calls, and complex contracts and fees meant to trap and trick consumers.”
While providing high-speed internet connection for everyone sounds good on paper, it is in fact a risky adventure to embark on. For starters, drastically removing the fees attached to accessing the internet would obviously be bad business for entrepreneurs and corporations who designed it in the first place.
Conservative members from the Republican Party in Congress rightly state that this could put a damper on innovation. Who wants to put in so much work for little or nothing? Additionally, Republicans believe it will be a big loss for the government, resulting in a big NO from conservative citizens.
Crypto Will Gain from High-Speed Internet for All
Despite these glaring drawbacks that make the plan inherently flawed, high-speed internet may be what the crypto sphere needs to gain a massive followship, which would aid crypto reaching mass adoption.
The lack of good internet connection in some areas is a major hindrance to adopting this new digital payment system. Although tech developers are working towards demystifying the complex process, you would still need a phone with an internet access to make any purchase from your crypto wallet.
Should high-speed internet connection be made available to everyone, more people will join the crypto movement. Consequently, businesses will have no choice but to become crypto-friendly as most customers will demand to make payment in cryptocurrencies.
Slowly but surely, Bitcoin(BTC)trade and other cryptocurrencies would become the ‘normal’ currency just like any fiat currency out there.