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US Presidential Candidate Says “Blockchain Needs to be a Big Part of our Future”

US Presidential Candidate Says “Blockchain Needs to be a Big Part of our Future”
Breaking News / Blockchain

There’s no doubt that cryptocurrency is growing in popularity and with the help of Andrew Yang, that popularity might just keep growing.

For those that don’t know, Yang is an entrepreneur who is running as a Democrat in the 2020 United States presidential race and he recently revealed a digital-asset platform that he believes could help spur on new innovation.

“I believe that blockchain needs to be a big part of our future,” Yang said to the packed out room at the Consensus conference in New York, where he gave a keynote address Wednesday. “If I’m in the White House, oh boy are we going to have some fun in terms of the cryptocurrency community.”

The crypto community praised Yang for his speech of crediting digital assets and after he published a bare framework for regulation, in which he calls for clear token definitions and tax rules. On top of this, Yang is also an advocate for clarity over which agencies have regulatory capabilities.

In an interview on the sidelines of the Consensus event, Yang said:

“We just need to provide rules of the road… we need to figure out which agency is going to be interacting with individual currencies. It would be unfortunate if every time a new currency comes out we then have to decide which framework applies.”

On top of this, the consumer protection aspect of the platform could be loosely based on current security law.

Even though the presidential candidate doesn’t actually own any cryptocurrency, he does invest in at least one vehicle that has some holdings, he says. His campaign will also be accepting cryptocurrency as donations too.

Yang is probably best known for his stance on universal basic income, a guaranteed $1,000 per month for citizens 18 and over. This is in an attempt to soften the blow of job losses due to new technologies and automation and to avoid another crisis occurring.

The candidate is a bit unknown at the minute but he is starting to make ground in an increasingly growing number of competitors for the presidents position. Yang’s online following has grown significantly this year too as he makes his way around the nation.  

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