Saylor Pushes for 'Bill of Digital Rights' to Unleash Crypto Growth
Michael Saylor has proposed a 'bill of digital rights' to enable individuals and companies to freely use digital assets. He argues that this will provide cheaper capital and freer money, essential for a productive AI-driven economy. The proposal includes five guaranteed rights: creating digital assets, issuing them to raise money, custodianship through direct or chosen providers, transferring them freely, and using them to spend, invest, earn, and borrow.
Saylor claims that ownership means little if the state limits what an owner can do. He criticizes recent legislation, the CLARITY bill, for having over 600 pages of restrictions on digital assets, out of a total of roughly 630 pages. Saylor has also categorized digital assets into tiers: digital capital, digital credit, digital money, and digital currency.
He believes that AI and automation will destroy jobs and make existing products obsolete. To counter this, he suggests launching new businesses at a faster pace than old ones disappear, citing the initial coin offering era as proof. Saylor estimates that only about 400 well-known companies out of America's 40 million businesses can easily raise money on public markets today.