The headline of a recent Susan Tompor column, “Ohio bitcoin tax gimmick is like paying with Beanie Babies,” is an unnecessarily glib jab at an industry that is here to stay. 

Tompor is correct that, at the moment, most businesses will not be utilizing Bitcoin to pay their taxes, as Ohio now allows. But is the state’s move a public relations stunt? Define stunt.

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Cryptocurrencies are an emerging industry with significant potential that has yet to be realized. Across the globe, new entrepreneurs are bringing tax revenue and high-paying jobs to areas that are conducive to conducting business. And, in an industry with little existing regulation, businesses operating in the space face a unique set of challenges that makes settling on a headquarters location far more complex than just comparing tax rates.

While Tompor’s column acknowledges Ohio’s intent to attract the blockchain industry, it’s a point that deserves more attention. This industry is attracting the best and brightest minds. They are millennials in the hunt for a community in which they will, perhaps, start a family. They are folks at the intersection of business and technology. They are people that any state would want to engage as community leaders who bring innovative solutions to the table.

It is a signal to entrepreneurs and start-ups that Ohio is taking their industry seriously. It says that the state understands that cryptocurrencies are here to stay and, more importantly, that the state is committed to evolving with the technology. In an industry that is technologically light-years ahead of regulators, this is much more than just a PR stunt. Instead, it is a beacon of light.

Blockchain-based technologies are nothing short of revolutionary, particularly due to their ability to make payments faster, more secure and less expensive. The potential benefits to the unbanked, and, thus, the public good, are immeasurable. When Beanie Babies are in line to provide such value to global finance, please do let us know.

The technology that will power this revolution is being built right now. This innovative industry is looking for politicians who want to understand our industry and our technology.  

Richard Gardner, CEO, Modulus

Scottsdale, Arizona

Bravo for Snyder

I was delighted that Gov. Rick Snyder vetoed most of the nasty, possibly unconstitutional legislation passed by the lame-duck legislature. The governor also extended rights for the LGBTQ community.

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I am very proud of him, and I’m quite certain that Michigan’s most respected elected official over the last 50 years, former Gov. Bill Milliken (who endorsed Rick Snyder in 2010) is also proud of Snyder.

Harvey Bronstein

Southfield

Alzheimer’s act a bipartisan success

Congress recently passed the Building Our Largest Dementia Infrastructure for Alzheimer’s Act with a strong bipartisan vote.

The act is now law, and I want to thank former Rep. Sander Levin, D-Royal Oak, for supporting this innovative legislation. The BOLD Infrastructure for Alzheimer’s Act will allow our nation to address Alzheimer’s as the urgent public health crisis it has become. I hope Rep. Andy Levin, D-Bloomfield Township, will continue to work with his colleagues in Congress to address Alzheimer’s as a public health crisis that must be addressed — not just from a funding standpoint, but also from a caregiver standpoint. 

Every 65 seconds someone develops Alzheimer’s disease — which is why Congress must remain committed to action on this devastating disease. To learn more about Alzheimer’s and how you can join the fight to end Alzheimer’s, visit alz.org.

Blake Silverman

Bloomfield Hills

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