New Jersey ranks 50 out of 50 when it comes to its financial state. According to Truth in Accounting, New Jersey has accumulated $189.6 billion (as of September 2020) in debt. Ballpark best guess, we each owe $57,900 — and we have Trenton insiders to thank for this ever-escalating burden.

The state’s financial grade is an F and we are going to have to get creative to settle our accounts. I’ve not even mentioned the over $225 billion in retirement benefits promised. It should also come as no surprise that the state did not fund the $95.7 billion in pensions and $76.8 billion in retiree health care benefits, either.

Wouldn’t it be great if we could make the digital economy work for us for a change? We could get our rating up and our obligation down. We need a bold and unique approach. That’s why I’m proposing we add Bitcoin to New Jersey’s balance sheet.

Bitcoin is a cryptocurrency created in early 2009. It is a decentralized digital currency without a central bank or single administrator in charge of the entire Bitcoin network. It can be saved, traded for goods and services, or sold for money without the need for intermediaries. This anonymous ledger is shared publicly with everyone who wants to see it, but to keep the privacy of everyone who uses Bitcoin, there are no names or personal information on the BlockChain. The BlockChain only shows your Bitcoin Wallet address (which is a long strand of random numbers and letters).

Read more @Fintech Zoom