cool valley, missouri, a small town of about 1500 inhabitants in the st. The Louis County area recently became the subject of international attention after its mayor, Jayson Stewart, announced that he planned to give each resident up to $1,000 in bitcoin.
stewart, a passionate environmentalist who spent years cleaning up the world’s oceans and ran a platform to right old wrongs, believes bitcoin education holds the keys to increasing his city’s prosperity, well-being and sustainability. Just as he dreams of a world without the environmental damage caused by irresponsible garbage dumps, he envisions a future in which bitcoin cleanses many of the ills of the financial system. Hoping to soon see a bitcoin-friendly bank in town, stewart sees bitcoin as an avenue that can boost the city’s fortunes through increased wealth and business opportunities like mining facilities and even bitcoin events.
Reading: Missouri mayor bitcoin
“A lot of it is about correcting the mistakes of the previous financial system. In the past, we didn’t have access to this amazing technology that we have today when it comes to our financial system and the storage of our value.”
bitcoins
stewart’s plan to dole out bitcoins to the people of cool valley is now fully funded. he explains that the plan is being paid for by private donors, with the aim of spreading adoption and educating users. “As of now, the project is fully funded at $1,000 per household,” she confirmed, adding that the city has received more donations because “the story became so popular in a way I never anticipated.”
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a day in my life through the eyes of @jaelincollier pic.twitter.com/n1maerlvt7
—Mayor Jayson Stewart (@coolvalleymayor) September 22, 2021
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While stewart believes it would be “very smart for a city to hold portions of its treasury in cryptocurrency,” he explains that “there are legal obstacles to doing so, many of which are set out in the state constitution with respect to towns and cities investing in assets.” He makes it clear that he is first and foremost interested in seeing ordinary people, rather than government entities, benefit from bitcoin. The more people have a stake in the bitcoin network, the more powerful it can become. /p>
“what really excites me, and what I’m working on, is getting regular people to hold bitcoin and really benefit from the appreciation of holding an asset like that.”
stewart has encountered a mixed set of reactions from the town’s residents, from excitement and curiosity to confusion, the latter being common among older members of the community. “They have a lot of questions about ‘what is it?’, ‘how do I store it?’, ‘how can I access it?'” he lists.
The distribution procedure is not finalized yet, but education is one of the key goals of the project because, in order to get their btc, residents need to understand what they are getting. To this end, it is planned to organize workshops or similar learning opportunities. “We will make people store their own bitcoin as quickly as possible,” declares the mayor.
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missouri mayor @coolvalleymayor “on bitcoin since 2015. i used to work for a tech startup, and we were virtual assistants for wealthy clients, and one of the coolest things i noticed was that this startup allowed our customers pay in btc in 2015” cc @bitcoinmagazine @ck_snarks pic.twitter.com/mgguru3bki
—kit (@kit_sats) September 22, 2021
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cool valley is home to people from a variety of economic circumstances, so “$1,000 seems like different things to different people.” However, the desire is for residents to hold onto their coins for some time rather than sell them immediately, in part because of Stewart’s transparent belief that they will increase in value over time. patience is a virtue, after all. In order to encourage this patience, there are plans to offer residents the option of a larger payout if they agree to hold their coins for a set period of time, with a smaller amount for those who want to sell.
“we really just want them to be able to understand the asset and become autonomous with their storage and understand how to maintain their own keys”
In addition to learning about bitcoin, stewart’s initiative is likely to inspire other spin-offs for the community. On the one hand, it is likely to introduce many residents to investing in general, which can bring many benefits in the future. Computer literacy is another area that is likely to see improvement due to the incentive of bitcoin, and new users are likely to start learning about other cryptocurrencies and blockchain applications as well. As such, the move is likely to ultimately inspire some residents to pursue careers in the blockchain industry.
clean up other people’s messes
In her early 30s, Stewart first interacted with bitcoin in 2015 while working as an assistant at magic, a san francisco-based company that often saw “very, very wealthy customers” send bitcoins to company wallets, which Stewart would later convert to fiat to purchase various goods. Although he didn’t have a very deep understanding of cryptocurrency, “I thought it was cool internet money,” he recalls.
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As a child, Stewart dreamed of being a nature photographer and owning a wildlife sanctuary. That’s why later in 2015, he left his job at Magic to pursue a lifelong passion for environmental restoration and wildlife rehabilitation through his new company, PL28, which operated out of Cool Valley. . pl28’s mission was to clean up the oceans, a vocation that was “the center of my life” for the next several years until stewart ran for mayor in 2019.
“Until I decided to apply, I was just taking plastic out of the oceans, rivers and different waterways, to try to improve the wildlife habitat a little bit for marine life.”
through pl28, stewart has helped clean up the ocean in places like the philippines, haiti, the bahamas, los angeles and singapore. explains that the cleaning process is different depending on the type of ecosystem in question. “at sea you will usually find mostly abandoned fishing nets” that continually trap and kill wildlife, while in a river environment like st. louis, “you collect a lot of plastic bottles like milk jugs,” he says.
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While he loves spending time with marine wildlife, he laments that the ocean cleanup work has been “much more logistical,” like coordinating volunteers, rather than direct field work on his part. In all, Stewart “worked with people in 47 different countries to collect plastic from the ocean,” and that plastic is typically processed into usable plastic and made into premium products made from the recovered material.
Today, Stewart has left actively cleaning up the oceans behind, but his adventurous spirit of cleaning up the messes and mistakes of the past continues to drive him forward.
small town mayor
After high school, Stewart studied psychology at the University of Miami from 2008 to 2012. During her studies in 2011, she founded a Pink Fader record production company with her freshman roommate. The duo saw some apparent success because an act under their label “ended up getting Grammy nominated, which is great, and we had a couple of songs that hit the top 50 on the charts,” Stewart recalls with a hint of pride. p>
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for stewart, who moved around a lot first with his family and then because of his business activities, cool valley “has been the most consistent place” through various stages of his life. young and armed with fresh ideas, he decided to run for mayor in hopes of improving services and revitalizing a struggling business district.
“It was going to create more of a refuge where humans and wildlife could live and interact together, safely, for both parties.”
Being mayor is a great honor, because “this small town I grew up in wants me to be their representative and their leader.” he describes the job as having a particularly wide scope of responsibility far beyond his previous job, feeling a strong sense of responsibility for the welfare of the townspeople. it even has the ability to grant pardons for certain crimes, which it announced last year for “any person convicted of non-violent crimes related to cannabis and/or psilocybin mushrooms” in a move that earned it praise for its “groundbreaking work to repair the damage of the war on drugs.”
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On the other end of the spectrum from general ideals, “there are always little things we’d talk about too, like a pothole in the road or whatever,” he says of the things that keep him busy.
bitcoin valley
Although there is no petition yet to change the city’s name, it is quite conceivable that the bitcoin effect will touch the cool valley in concrete ways. While the city already has a bitcoin ATM, there are plenty more opportunities to consider. “Some people have reached out to open a mining facility,” stewart beams, adding that “I’m trying to get a bitcoin-friendly bank here.”
Fortunately, Stewart has just joined the advisory board of Midwest Bankcenter, which is a locally owned bank with nearly $2 billion in assets. “They’ve been meeting for 100 years, but I just had my first board meeting with them about three days ago,” he laughs. When asked if they knew him as the “bitcoin guy,” Stewart proudly declared that “now they do!”
From his perspective, stewart feels “a kind of cautious optimism” in the local banking sector. while they clearly want to avoid risk, “they also enjoy the potential opportunity for huge returns on their investments.”
Considering the number of donors, it looks like there will be money left over after distributions to residents. With these funds, one idea Stewart is exploring is solar lighting and other energy efficiency initiatives in Cool Valley. “There is a lot of fear, uncertainty and doubt when it comes to the environmental effects of bitcoin,” he admits, adding that he wants to set a positive example of how good bitcoin can be.
with the university of missouri-st. the louis campus borders the cool valley to the south, the city could be a great place to host a bitcoin conference, or even a tech hub one day. Mayor Stewart agrees, saying, “I think that could be a pretty good outcome, that would be great.”
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