By The 2020 United States of America presidential elections are set to have Blockchain technology as one of the main defining agenda. Different presidential candidates have come out to publicly state their take on Blockchain technology and virtual currencies.
For the Technology
Recently, the Democratic presidential aspirant, Andrew Yang, stated his opinion on the technology.
Reportedly, Yang has endorsed Blockchain technology. He has gone further to allude that he will support applications run on Blockchain technology if he wins in the forthcoming elections that are barely 18 months away. The application Yang has expressly indicated an interest in is a Blockchain-based mobile voting system. The post on his website partly read;
“It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths. It is 100% possible to have fraud proof voting on our mobile phones today using the Blockchain. This would revolutionize true democracy and increase participation to include all Americans”
To show his commitment to the advancement of Blockchain technology, Yang has gone further to accept his campaign funds in cryptocurrency. Through a political action committee known as Humanity Forward Fund, Yang announced that the committee will take donations in Bitcoin for his presidential campaign.
Another notable political figure in the US to give Blockchain technology a shot in the arm is the Former Republican Congressman Ron Paul. The congressman reportedly stated, a year ago, that it is healthy to have ‘competition between currencies’, in his support for cryptocurrencies.
Against Blockchain Technology
Notably, Blockchain technology has not received support from a section of US politicians. Recently, the United States Treasury Secretary, Steven Mnuchin, termed Bitcoin a security threat. The US President Donald Trump, through a social media post, referred to virtual currencies as “unregulated crypto assets which can appear and disappear in thin air”. Posts that continues to draw a flurry of mixed reactions.
Despite the lack of support from a section of the politicians, the recent endorsement from some of the notable political figures has given Bitcoin and digital currencies a boost of confidence. Further, with the presidential elections drawing nearer, Blockchain technology is set to be a campaign point and a big determining factor of the outcome of the elections.
Comments