The University of Wyoming is on the brink of launching a Bitcoin Research Institute next month to enhance the quality of academic research relating to Bitcoin. The institute is to provide comprehensive, peer-reviewed studies that highlight the various aspects of Bitcoin. The University of Wyoming Bitcoin Research Institute has set an ambitious agenda—plans include hosting annual summer workshops, offering academic prizes, and conducting weekly seminars to build a lively academic community dedicated to research on Bitcoin. The institute is nonprofit and open for donations in Bitcoin in support of its research endeavours.
Bitcoin Research Institute on the Cards
The rumour was picked up on July 28 by famous Bitcoin supporter and Associate Professor of the University of Wyoming, Bradley Rettler. According to Rettler, the institute lacks proper publications about Bitcoin, better quality, to be precise: “A lot of existing Bitcoin research is low quality so that research ends up misinforming a lot of the public discourse around what this technology does and how it functions.”.
Poor Research Leads to Flawed Journalism
Rettler pointed out one such flawed research by University of Hawaii Professor Camilo Mora, who led a 2018 study that controversially said that Bitcoin emissions could vitally contribute to global warming to an increase of 3.6° Fahrenheit by 2048. Rettler faulted the study for not accounting for essential elements in understanding Bitcoin’s relationship with the environment, difficulty adjustment and block size cap.
He said that these errors deceive the public and distort media coverage, with implications for policy-making. “Journalists can’t be experts in every field, so they rely on academics. Too many of those academics have let them down,” said Rettler.
Joining Rettler will be lead author of “Resistance Money: A Philosophical Case for Bitcoin” Andrew M. Bailey to the University of Wyoming Bitcoin Research Institute, further boosting its intellectual credentials. The official opening will be at the start of the Fall semester for the 2024-2025 academic year.
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The launch of the Bitcoin Research Institute dovetailed into a bullish period for Bitcoin. Bitcoin changed hands at roughly $69,600, up 3% over the past 24 hours. In the last 30 days, the cryptocurrency surged 15%. Apart from the announcement of the Bitcoin Research Institute, a show of support from former US President Donald Trump also helped revive bulls in the crypto market.
University of Wyoming: A Bitcoin Hub
A prime state for Bitcoin innovation in the United States is fast emerging out of Wyoming, driven by very proactive legislation and digital currency movement proponents such as Senator Cynthia Lummis and Caitlin Long, Custodia Bank Founder and CEO. Changes have been led by the University of Wyoming, reflecting the forward approach taken by the state to its stablecoin project and the latest legislation.
In March, a bill by Wyoming Governor Mark Gordon inaugurated a comprehensive legal framework outlining how one would establish and manage decentralised autonomous organisations. This positions Wyoming at the centre of innovation in blockchain and cryptocurrency.
Conclusion
The world of cryptocurrencies is a happening place and you can expect new innovations every new day here. A Bitcoin Research Institute at the University of Wyoming will make immense contributions to academia and the world of cryptocurrency and pave the way for right education to the crypto enthusiasts. Driven by Bradley Rettler and joined by Andrew M. Bailey, the institute will work toward raising the quality of Bitcoin research while offering effective counterviews to the many types of misinformation about cryptocurrency on all subjects. With Wyoming fast becoming a hub for Bitcoin, the University of Wyoming Bitcoin Research Institute will undoubtedly play an essential role in shaping the future of Bitcoin research and innovation.
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