It is human nature to fear what we cannot understand. The best way to overcome this fear is with knowledge, Brock Pierce told the crowd Benzinga Psychedelics Capital Conference on Thursday in Miami Beach.

The crypto billionaire, economist, and philanthropist, who serves as the chairman of the Bitcoin Foundation, started out as a child actor. Today he is a serial entrepreneur best known for his work in the cryptocurrency industry. He recently joined Jeremy Gardner psychedelics-focused venture fund Mystic Ventures as a general partner, which landed him and Gardner on the Fontainebleau Miami Beach stage. The two entrepreneurs attended a keynote hosted by Benzinga’s Javier Hasse.

Education is the best approach to political reform

When asked about the current regulatory landscape for psychedelics and the challenges ahead for years to come, Pierce said that every change starts with information.

“The first process is just education,” he said. “A lot of it.”

Over the years, Pierce, who once ran for President of the United States, has built strong connections in Congress by educating the government on cryptocurrency and blockchain technology. His current mission is to do the same with psychedelics.

“I learned how to do that in DC from a political perspective and it’s the same playbook again and it just starts with information,” he said. “Every time I meet a Democrat, I meet a Republican,” Pierce said. He added that he’s trying to shed some light on the issue while making sure it remains “an impartial matter.”

Transparency is important

Gardner stressed the importance of making information about something new, like psychedelics, public through academic research.

“If you do something completely new, you have to do the studies, you have to publish it, you have to make it available for peer review,” he said.

Why? He explained that data between companies would lead to more effective treatment of patients in need of psychedelic drugs.

After I was five…