There is a lot of news each day about cryptocurrency, but it is rarely about empowerment. Conversations in the media, and in the halls of power, around digital assets need to move beyond the bad actors and how to regulate the technology out of existence—the conversations must focus on how these technologies can benefit everyone, particularly those who have been left behind by traditional systems.
In the 1980s my parents emigrated from Nicaragua to America, but as hard as we worked nothing changed. The existing financial system leaves people out. You are in the club or you are not in the club. I started thinking, well, if they can do it for their people, why can’t I do it for my people?
That’s why I started BronxCrypto. I’m dedicated to empowering my community with blockchain. The technology is about giving people a chance and giving people in my community, here in the Bronx, a voice.
For many, traditional banking systems have been inaccessible or exploitative. High fees, credit checks, and other barriers have long kept these communities from fully participating in the economy. Cryptocurrency changes that equation. With a smartphone and an internet connection, anyone can access a global financial network, participate in peer-to-peer transactions, and even start a business without needing a traditional bank account.
In communities where trust in institutions is low—due to historical injustices or ongoing economic exclusion—blockchain can provide a transparent record of transactions. This not only helps in preventing fraud but also empowers individuals with ownership over their financial data.
With blockchain, we have the potential for a financial instrument that is less susceptible to criminal elements than US dollars, which remains the funding of choice for illegal enterprises.
But the potential applications of blockchain go beyond finance. In the healthcare sector, blockchain can be used to securely store medical records. For those underserved by the healthcare system, this means more accurate and accessible care. In education, blockchain can be used to create tamper-proof records of academic achievements, providing a reliable way for individuals to prove their qualifications, regardless of where they obtained their education.
Blockchain technology can root out corruption too. It can be a powerful tool for promoting transparency and accountability in government.
By using blockchain for voting systems, we can create a more secure and transparent electoral process, reducing the risk of fraud and increasing public trust in the outcomes. This is especially important in underserved communities, where disenfranchisement and voter suppression have long been issues.
The US can lead in innovation, but that requires a thoughtful approach from politicians. Any proposed regulations need to protect our people from the crooks and bad actors, but lawmakers also need to ensure our local innovators thrive. Blockchain cannot reach its full potential if other countries, especially those who do not embrace our values lead the charge. The technology has the potential to create a more inclusive financial system and democratize access to the American Dream.
But this will require investment in education to ensure that everyone has the tools they need to participate. And it will require leaders who are willing to embrace the future, rather than cling to the past.
As we head into the election, both parties need to put forward policies that recognize the transformative potential of cryptocurrency and blockchain. This is not a partisan issue—it is about the future of our economy and my community. By embracing these technologies, we can build a more inclusive, transparent, and secure economy that leaves no one out.
Let’s take bold action, work together, and empower each and every one of our communities with blockchain.
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About Julio Barrios
Julio Barrios is founder and CEO at Bronx Crypto, a digital assets learning platform, focused on unlocking the potential for decentralized finance in the Bronx.
Written by: Julio Barrios
