Charleston-based group hails state’s decision on digital currency literacy

Charleston real estate investor Dennis Fassuliotis has been urging elected state leaders to set regulatory guidelines for new technologies that are rapidly changing the way financial institutions operate. 

He and eight other entrepreneurs and advisors in 2018 started a grassroots organization that last year became the South Carolina Emerging Technology Association (SCETA). Over time, they have been educating state leaders and members of the S.C. General Assembly about the potential of blockchain technology, digital assets and cryptocurrencies, all of which are used by governments and consumers in other states and countries.

The association scored a big win last month when South Carolina lawmakers authorized the state treasurer to spend $500,000 to study digital currency literacy.

State Treasurer Curtis Loftis Jr. plans to address the association’s South Carolina Blockchain Conference on Oct. 5 to Oct. 7 at the Indigo Inn in Mount Pleasant. Hester M. Peirce, a member of the U.S. Security Exchange Commission, is also scheduled to attend the conference.

Blockchain technology is a computer-based, ongoing permanent ledger that records transactions and ensures each one is authentic. A digital asset is anything that has a value that can be stored on the blockchain as unique digital data such as a book, music, videos and photographs.

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