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Former Bitcoin Advocate and CFTC Commissioner Bart Chilton Has Died

Matthew North | Apr 29, 2019 | 16:00

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The former US Securities and Futures Trading Commissioner and blockchain supporter Bart Chilton has died. 

Chilton was also known for his tight stance on swaps and derivatives, as well as being a critic of high-frequency traders. Chilton will also be remembered as an advocate of Bitcoin and the application of blockchain technology in general. As a Forbes contributor, Chilton wrote a couple of pieces for the publication highlighting the strengths and areas of improvements that the blockchain could take.

Chilton’s most popular article on the blockchain was a piece for Forbes titled “Bohemian Blockchain Rhapsody: lessons to be learned from Queen & Freddie.” In his piece, Chilton drew parallels between the blockchain and the 1970’s hit song.

‘Get Creative’

Chilton began by surmising his position with the following:

At the same time, there are lessons to be learned from Queen and Freddie. That’s especially true for those in the emerging and exciting world of blockchain and cryptocurrencies.

His first piece of advice for anyone involved in the cryptocurrency industry was to “be divergent.”

Chilton went on to give specific examples such as in the industries of “finance, real estate, precious metals diamonds, or gems.” He notes that the blockchain “can and should be used in these areas,” yet for entrepreneurs being “more disruptive” remains as the key differentiator between competitors and similar products.

“Get creative” he surmised.

Show Persistence

Chilton’s second piece of crypto-wisdom was “be persistent.” He noted that Queen was repeatedly told by executives in 1970s that songs longer than three minutes would not receive air time, yet Bohemian Rhapsody was almost six minutes in length.

On the subject of persistence, Chilton noted:

The same can be true for imaginative blockchain applications and cryptos. But it means more than just adding the word “blockchain” to a project. It requires persistence and perseverance.

Time, Money, and Effort

Chilton’s third piece of advice for crypto startups is to devote time, money, and effort into worthy ideas. “Money seems to be the key culprit for causing folks to abandon or forestall their vivid visions,” he wrote.

What do you think of the late Bart Chilton’s stances? Let us know your thoughts in the comments below.

Images courtesy of Shutterstock, Bitcoinist archives.