By : Far from , California Democrat Rep. Eric Swalwell is accepting bitcoin donations for his dark-horse bid to knock off Donald Trump in the 2020 presidential election. More significantly, the bombastic congressman wants to usher in a blockchain revolution after he vanquishes Trump from the White House.
Altogether, Swallwell is accepting six cryptocurrencies. Two of the six are odd choices. One of them is the White Standard, a stablecoin we hadn’t previously heard of which reports $0 in USD reserves. The White Company runs , which probably explains that decision. The other is , the embattled project of , who insists despite to the contrary.
The rest of the options are pretty standard: , , , and .
Eric Swalwell: Pro-Blockchain, Anti-Gun
Swalwell reportedly has gun control at the heart of his presidential ambitions, but blockchain adoption features prominently as well.
Swalwell says:
“Blockchain can change the world if we let it. […] Our nation pioneered the Internet. We use smartphones all day every day to move money, to buy goods and services, to share our innermost thoughts, and participate in public life. So it’s pure cognitive dissonance to believe that we cannot extend this further into our democracy and our economy.”
Andrew Yang is . Both Yang and Swalwell are long-shot candidates to even get in the race against Donald Trump, with favorites like Joe Biden and Bernie Sanders leading the democratic polls.
Second Democrat to Accept Crypto This Season
Andrew Yang, another dark-horse Democratic Trump challenger, has also catered to the admittedly-small “bitcoin vote.” | Source: Shutterstock
While Eric Swalwell offers broad “support” for blockchain technology, Yang has released on the idea that crypto will reinvigorate the US economy. Yang is also a proponent of a universal basic income.
Swalwell will not accept “corporate PAC” money, a campaign tactic that elevated fellow Democrat to quick stardom and constant criticism.
For several years, politicians have capitalized on the crypto sector’s desire to have a well-regulated and established crypto economy in the United States, with little improvement in the regulatory environment. Our crypto regulations are so bad that Jeremy Allaire recently , in part, for the firing of thirty employees at Circle.
Trump Has Done Nothing for Crypto Users
Trump’s presidency has done little to improve the regulatory predicament that ensares US crypto firms. | Source: AP Photo/ Evan Vucci
The bipolar nature of the federal government’s reaction to cryptocurrency has allowed other countries, like and , to take charge and become a home for major crypto companies. One day we hear of the ‘s reintroduction; another day, we hear a .
It’s worth noting that would give rise to an extreme price bump for cryptocurrencies like bitcoin. Demand would increase, in part because of reduced financial freedom.
The more things change, the more they stay the same. ‘s presidency has done next-to-nothing for the crypto economy. Running on a pro-blockchain platform may be a useful means for Democrats to attract otherwise conservative votes, but it’s doubtful that the demographic as a whole is large enough to sway the vote.
Published at Thu, 23 May 2019 18:36:26 +0000
