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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ruby on Rails Creator Backtracks As He Expresses Support For Crypto

Best Owie
Best Owie
1 year ago
3 mins read
crypto coins

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David Heinemeier Hansson has backtracked on his decision to not support crypto. The Danish programmer who is famous for creating the Ruby on Rails programming language had been a staunch opponent of the crypto mission in the past. For Hansson, the ideologies behind the creation of cryptocurrencies did not seem to make sense in the western setting where rule of law prevailed. That is until the Canadian Truckers Protest of 2022.

The World Needs Crypto

In a move that shocked the world at large, the Canadian government had enacted martial law against protesters who were involved in the Canadian truckers’ peaceful process. It however did not end there as the government had moved forward to financial warfare against protesters and supporters. From suspending crowdfunding campaigns, it has graduated to going after individuals by freezing their bank accounts.

Related Reading | Bitcoin Sets Stage For Reversal As Unmoved Supply Nears All-Time High

This move from Prime Minister Justin Trudeau has sparked debates regarding government control and individual liberty to transact. Hansson has chipped into this debate with what can only be regarded as a heartfelt admission that he was wrong about the role cryptocurrencies can play in the west.

In his post, the Basecamp founder outlined his past history with crypto, explaining that while he saw the need for it in places like Venezuela with its crumbling economy or China with its authoritarian government, he just did not see the need for it in the west. The Canadian Truckers Protest proved him wrong.

Hansson all but goes through the motions in his post that outlines not only his past history with cryptocurrencies but how current affairs have caused a shift in his beliefs. Noting his reaction to when news of the GoFundMe freeze broke, he revealed that he “thought it was something another fund-raising platform – one less likely to collaborate with the Canadian authorities – could route around.” And he was right as another platform, GiveSendGo, filled the gap very quickly.

The morale boost from this newfound investment route would prove to be short-lived as the Canadian government had taken it one step further as it began freezing accounts of protesters and donors. This is expected to go on for months after the protests have ended as the police have said it will continue this financial warfare against protesters and donors.

Crypto total market cap chart from TradingView.com

Market cap back above $1.7 trillion | Source: Crypto Total Market Cap on TradingView.com

For Hansson, this was the straw that broke the camel’s back and has completely reconfigured his views towards crypto. Because cryptocurrencies are not controlled by any entity or government, protesters and donors would not have to worry about having their assets frozen. Their right to transact is protected and cannot be used again them in any way.

Related Reading | Ripple Vs. SEC: XRP Showing Strength In The Legal Fight As New Evidence Arises

Hansson closes out his statement by admitting he was “too hasty to completely dismiss crypto on the basis of all the things wrong with it at the moment.” Admitting that it’s currently the best shot at protecting the freedom to transact.

Featured image from Deseret News, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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