The University of Wyoming is gearing up to launch the Bitcoin Research Institute next month, aiming to improve the quality of academic research on Bitcoin. The institute is set to provide comprehensive, peer-reviewed studies that shed light on various aspects of Bitcoin.
The Bitcoin Research Institute has outlined an ambitious agenda. It will host annual summer workshops, offer academic prizes, and conduct weekâ ly seminars, fostering a vibrant academic community dedicated to Bitcoin research.
The institute operates as a nonprofit and is open to Bitcoin donations to support its research endeavors.
Need for Quality Research on Bitcoin
Popular Bitcoin advocate and Associate Professor at the University of Wyoming, Bradley Rettler, shared the exciting news on July 28 on X. Rettler, who will serve as the instituteâs director, emphasized the pressing need for higher quality research publications on Bitcoin. He pointed out that the existing body of Bitcoin research is often subpar, leading to misinformation and poorly informed public opinions.
Poor Research Leads to Flawed Journalism
Rettler highlighted a notable example of flawed research: a 2018 study led by University of Hawaii Professor Camilo Mora. The study controversially claimed that Bitcoin emissions could significantly contribute to global warming, projecting an increase of 3.6° Fahrenheit (2° Celsius) by 2048. Rettler criticized the study for failing to account for Bitcoinâs difficulty adjustment and the block size cap, both critical factors in understanding its environmental impact.
He argued that these kinds of errors mislead the public and influence journalistic coverage and policy-making. âJournalists canât be experts in every field, so they rely on academics. Too many of those academics have let them down,â Rettler remarked.
Joining Rettler at the institute is Andrew M. Bailey, lead author of âResistance Money: A Philosophical Case for Bitcoin,â further strengthening the instituteâs intellectual foundation. The instituteâs official opening will coincide with the beginning of the Fall semester for the 2024-2025 academic year.
The timing of the instituteâs launch coincides with a bullish period for Bitcoin. As of now, Bitcoin is trading around $69,600, marking a 3% increase over the last 24 hours. Over the past 30 days, the cryptocurrency has seen a remarkable 15% surge.
Wyoming: A Bitcoin Hub
Wyoming is rapidly emerging as a pivotal state for Bitcoin innovation in the United States, spurred by supportive legislative efforts and influential figures like Senator Cynthia Lummis and Caitlin Long, founder and CEO of Custodia Bank. The stateâs progressive stance is also reflected in its stablecoin project and recent legislative advancements.
In March, Wyoming Governor Mark Gordon signed a bill establishing a comprehensive legal framework for the creation and management of decentralized autonomous organizations (DAOs).
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