U.S. Rep. Brian Jack, R-Ga., is examining the impact of digital assets on small businesses. As chairman of the House Small Business Subcommittee on Innovation, Entrepreneurship, and Workforce Development, Jack recently convened a hearing titled “Main Street Meets Crypto: What Digital Assets Mean for Small Businesses,” exploring the opportunities and challenges that digital assets present for America’s small business community.
According to the Congressman, this hearing explored the impact of cryptocurrency and blockchain technology on small businesses and examined strategies to make these technologies more accessible to American entrepreneurs.
“Our hearing examined opportunities to lower costs for small businesses, reduce payment friction for entrepreneurs, and utilize emerging technology to benefit Main Street across America,” said Jack.
Testifying before the Small Business Subcommittee on Innovation, Entrepreneurship, and Workforce Development were:
● Faryar Shirzad, Chief Policy Officer at Coinbase
● Ben Leventhal, Chief Executive Officer of Blackbird Labs, Inc.
● Dr. Andrew Wu, Associate Professor of Technology and Operations at the University of Michigan Ross School of Business
According to Jack, the witnesses discussed how cryptocurrency and blockchain technology intersects with small businesses, and they emphasized the importance of clear rules, practical guidance, and better education to support broader adoption of this technology.
Following the hearing, Jack hosted a reception featuring burgers from PubKey, a small business that accepts Bitcoin, and Papa John’s pizza, a nod to the first known commercial Bitcoin transaction: a 2010 purchase of two Papa John’s pizzas for 10,000 Bitcoin.
The Subcommittee on Innovation, Entrepreneurship, and Workforce Development is a subcommittee of the House Committee on Small Business, on which Congressman Jack serves.
The Georgia Congressman is one of only five freshmen U.S. Representatives to chair a subcommittee in the 119th Congress.
