An interview with Lee Bratcher
Texas Blockchain Council President Lee Bratcher sits down with us to discuss life, blockchain, and the upcoming legislative session. Our first conversation in an ongoing series showcasing TBC leaders and members.
Tell us a little about yourself:
Lee: I teach political science, blockchain concepts, and international relations at Dallas Baptist University. My research area is blockchain in real estate, specifically land registries. My wife Becca and I have two children, and we live in Dallas, Texas.
How did the idea for the TBC come about?
Lee: Wyoming and Arizona took the lead in creating state regulatory and public policy frameworks that were friendly towards blockchain technology. Texas is fast becoming a state known for tech innovation and has a large enough economy to be a leader on the national stage. We formed the Texas Blockchain Council so that companies and individuals who would like to see Texas lead in the space have a place to organize and innovate.
How much time do you spend preparing yourself for your day?
Lee: I live by a tight schedule. I start the day at 6:15 a.m., working out with the ROTC cadets at Dallas Baptist University. I am in the Army reserves and train future Army officers at the University as well. I get into my office around 7:45am, and then my calendar takes over for the day.
How do you balance your work and your personal life?
Lee: It is tough. The time that the Council Board Members give to the TBC goes above and beyond our normal jobs. When I get home, I am present at home. I put the phone and laptop away and spend time with my children. I typically block off the evenings to spend time with my family. My wife and I like to travel as well, but of course Covid has put a damper on that recently.
What book are you currently reading, and how is it shaping your outlook on business and life?
Lee: I try to read a wide array of books, ranging from political science to social justice, blockchain, monetary policy, and decentralized finance. I read The Economist every day. I just finished reading Digital Finance by Baxter Hines, and now I’m working on a book that my father-in-law gave me, Counterfeit Gods by Tim Keller.
How do you see Texas faring in the world of crypto, and what do you think could be better?
Lee: Texas is in a unique spot because of our dynamic economy and the presence of large energy, banking and telecom sectors. Texas has to proceed with care regarding public policy and regulations, because where Texas leads, other states follow. The Texas Department of Banking and Texas Banking Commissioner are forward-thinking on this subject. The Texas State Board of Securities has done an impeccable job of rooting out bad actors in this space. Texas money transmission licenses are relatively unobtrusive. We have a good foundation, but we need to clarify some things in the Uniform Commercial Code and build support for companies to innovate and build their businesses here as they move from California, New York, Florida, and wherever else they are coming from.
How would you simplify Blockchain?
Lee: Blockchain is a decentralized, distributed digital ledger.
Are college students open to emerging technologies like blockchain and DLT?
Lee: Most of my students perceive it positively. Because they are digital natives, they understand the convenience and potential of technology. They are less averse to change. Most of them do not understand what blockchain is or what it could do, and the implications of it, but there are some exceptionally bright and technically savvy students out there, and it’s an honor to work with them. We currently have students interested in interning in the blockchain space and learning more about it.
What is on the TBC Legislative agenda?
Lee: The TBC has helped draft four pieces of revenue-neutral legislation that will help Texas demonstrate its desire to become the jurisdiction of choice for blockchain innovation. We have two working group bills, a UCC bill, and other blockchain-enabling legislation.
What's a nugget of wisdom you’d like to share with readers?
Lee: Innovation in the way we transmit value is coming, and blockchain is one of the emerging technologies that will bring it about. Even though it may not seem like it, we are on the precipice of a technological revolution that could one day rival the sweeping changes ushered in by the internet.