FAIRFIELD, IOWA — Rick Shaddock is a volunteer with the Fairfield Iowa Association of Digital Currency, a non-profit organization that teaches Heartland residents about bitcoins.
He says Bitcoins are the currency of the future and it will bring more power to the people.
“I feel that digital currency will actually help get money back in the hands of the people, which is the original intent of the Constitution,” said Shaddock.
According to Shaddock, the Federal Reserve is more of a cartel of banks, while bitcoins and other digital currencies are not controlled by any party. In this system, the internet serves as the bank.
Shaddock says you get involved with Bitcoins by simply using an app called Coinbase.
Large businesses, like Overstock and Dell Computers already accept bitcoins. And, in Fairfield a few small businesses, including a local taxi service and doctor, have started to do the same.
Shaddock’s goal, with the help of this organization, is to make Fairfield the bitcoin capital of the Midwest.
“So we’re working to make that a reality, an option, in Fairfield,” he said.
Right now, bitcoin is valued at $10,000. But, Shaddock says there are other types of digital currency that could soon replace it.
“The Fairfield Iowa Association of Digital Currency is encouraging people to do research on this, and get the best computer minds together and make maybe the ideal digital currency,” said Shaddock.
CLICK HERE to visit the Fairfield Iowa Association of Digital Currency's website.