Andrew Yang: The Pro-Crypto US Presidential Candidate Carrying the Hopes of Blockchain

What do we need to significantly increase the adoption of blockchain and cryptocurrencies in the next few years? Umm… maybe a US President who is pro-crypto. And with candidates like Andrew Yang out in the run-up to 2020, it’s quite possible that we can have such a President in the office by the end of next year.

It’s no surprise that being a superpower, US plays the biggest role in setting the direction of global policy on many things, including Finance. So if it’s headed by a pro-crypto leader, a lot of developments may take place for the adoption of crypto.

Andrew Yang is one such leader.

He is a Democratic Party candidate running for the President in 2020, and he has already made public many of his blockchain-focused policies. Among those policies is the use of blockchain to modernize voting and development of pro-crypto regulation.

Modernizing voting

On modernizing voting, Yang says he will work to modernize the voting infrastructure by utilizing modern technologies like blockchain. People will be able to vote securely through their smartphones, which will boost the public participation in democracy. He says:

“It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths. It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain.”

This can revolutionize the democratic system of America, he says. Those with smartphones can vote from anywhere in the world, and those who don’t have smartphones can use the legacy systems of voting. The lines will be very short for them.

Crypto regulations

On crypto regulations, Yang says his administration will clearly define:

• What is a token and when is it a security?
• Which regulatory authorities have the power to regulate what type of tokens?
• And what are the tax implications associated with different types of tokens?

He has also said that he will develop policies providing consumer protection for the people involved in this space. He will also preempt state regulations, whenever possible, to create one national framework for crypto regulation.

All of this can happen, of course, if he becomes the nominee of Democratic Party, and then the President of United States. Even if he doesn’t become the President but goes on to become the nominee of Democratic Party, it can bring crypto and blockchain regulation debate to the center stage of 2020 Presidential Elections.

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via LuvCrypto