The governor of Texas thinks that his state should work to become a center for blockchain and bitcoin technology.

When talking to the Texas Blockchain Council, Governor Greg Abbott said, “Bitcoin is one of the coolest innovations in the world today.” He also said that he thinks the state will become a hub for blockchain and bitcoin technology in the future.

This is true because Texas is now one of the most important places in the U.S. to mine bitcoins. Also this week, the Texas Blockchain Working Group gave its report for 2022 to the legislature of that state.

The document says that “the legislative branch in Texas should think about making well-known cryptocurrencies with large market capitalizations, like bitcoin, legal investments in the state of Texas.”

In a section about bitcoin mining, the document says, “From an environmental point of view, it is especially good for bitcoin miners to make deals with oil and gas companies to send so-called “associated gas” to be used to make energy for bitcoin mining.”

In this case, it is emphasized that “there is a 63% reduction of hydrocarbon emissions into the environment” if this associated gas is used to make energy directly at the points that representatives of the U.S. oil and gas industry say are best. Remember that earlier, the U.S. Congress decided to find out what was going on with bitcoin mining in Texas.

Also, the Texas Blockchain Working Group was against making a “digital dollar” because it would mean “direct interaction between the U.S. Federal Reserve and the users” of such a digital asset, which would be different from how things are done in the U.S. financial world now. The working group suggested that Texas lawmakers and the Texas Blockchain Council work together to criticize such an idea.

https://altcoin.ng/bitcoin-is-one-of-the-coolest-innovations/