Home Technology Presidential Candidate Hopeful Andrew Yang Endorses Blockchain Technology

Presidential Candidate Hopeful Andrew Yang Endorses Blockchain Technology

by Brandon Harville

The 2020 United States presidential election is less than 18 months away and two-dozen Democrat hopefuls are campaigning to become their party’s next nominee for the presidency. As a result, there’s been more focus on the future of the United States, with people weighing in on jobs, foreign and domestic policy, technology, and a number of other important issues that will influence the American economy.

One of those politicians is Andrew Yang, who became popular for being the only candidate to propose a $1,000-a-month universal basic income for all citizens 18 and older. In a recent interview, Yang committed to adopting a crypto-friendly approach if he was elected president. He went on to say that blockchain technology should play a big part in the country’s future, but the government must first create a legislative framework that enhances security and removes any confusion surrounding digital assets, tokens, and tax laws related to cryptocurrency.

What This Means for the Industry

Andrew’s proposal could have a positive effect on the crypto industry if enacted, with the potential to turn the United States into the next crypto-friendly country. Does he have a shot at becoming president?

Not a chance.

Unfortunately for Yang, there are a total of 24 presidential hopefuls fighting for the Democratic nomination. And the majority of them are key figures with larger, more loyal support bases. But that doesn’t mean that Yang’s blockchain-friendly approach isn’t significant. At the moment, he’s the first presidential candidate to make blockchain technology part of his official platform. But if he’s able to energize voters and create a large enough following, it could persuade other presidential candidates to take an official stance on the technology as well.

Not to mention, having a presidential candidate talk about blockchain technology helps to legitimize the industry. And the more people start talking about blockchain and crypto, the more we’ll see it being used in contemporary society.

Either way, Yang confirmed he’s met the requirements to participate in the first round of the Democratic debates. So, expect to see him defending his pro-blockchain stance while debating major contenders like Joe Biden, Elizabeth Warren, and Bernie Sanders.

Photo by Stephen McCarthy/Collision via Sportsfile

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