I would like to start off by explaining why I came on Steemit, and my motives for being here. As a political science student, we always have discussion posts that enhanced our knowledge by debating certain aspects of American political thought. These discussions are important because they help us understand fundamental aspects of government, and allow us to keep questioning our governmental structure to enhance it. I encourage everyone reading to post and comment, hopefully
Learning from the political philosophy of our founders can shed some light on current issues that we have today. Stemming from their views of liberty, especially from the yoke of the British Empire's taxes and regulations, we can observe the same issues today in a different light. Jefferson was always a defender of small government, as a stark anti-federalist, policies that we have today like federal government regulation and their interference in people personal lives like for example the War on Drugs.
Because of his views, what would Jefferson think of the concept of Cryptocurrencies? It's my belief that he would support such a concept because of its decentralization of currency. He feared a strong federal government due to its potential to be tyrannical. We can compare these views with the aspect of our centralized banking system where the government has the authority to impose regulations, and of the actual banks that impose their own policies on consumers. With the advent of cryptocurrencies, it opens the opportunity for citizens to invest their savings in these currencies, eliminating the need for banks to store, and transfer funds. The rights of every American, including minorities (Although Jefferson himself regarded slaves as subhuman, and restricted to citizenship) will be protected due to the anonymous nature of cryptocurrencies. Jefferson's view of increasing urbanization, financial institutions, and industrialization would only limit the freedom of average Americans due to its methods of concentrating wealth in the hand of aristocrats. With Cryptocurrencies, it allows for us to redistribute (incoming accusations of Marxism) wealth over a larger demographic than most banks and financial institutions do today.
With this, I would like to end this post by a quote of Jefferson, "I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength and bid defiance to the laws of our country."