Latest Articles

Is Andrew Yang the Blockchain Party’s President?

Andrew Yang may not be among the most likely presidential hopefuls to receive the Democratic nomination and run against Donald Trump in 2020. But he has captured the attention of crypto and blockchain enthusiasts around the world. So why has Crypto Twitter fallen for this unlikely political firebrand, and what could a Yang 2020 campaign mean for decentralizing technologies?

Becoming a Candidate

In some ways, Andrew Yang may seem like the natural candidate of choice for tech enthusiasts. He founded Venture for America, a nonprofit that encourages young professionals to work at startups, in 2011. Before that, he worked at startups and early-stage companies himself, including StartGiving.com, which encouraged philanthropy through celebrity affiliation.

One of his signature legislative ideas is the introduction of a universal basic income — a flat fee of $12,000 paid to every American between the ages of 18 and 64 to combat the rise of automation in the workplace. This idea in particular seems to align with some of the economic equality philosophies held by fans of decentralized cryptocurrencies like bitcoin.

But whatever the specific reasons, something about Yang has certainly captured the attention of Crypto Twitter, the hivemind of blockchain and cryptocurrency influencers who retweet and comment on Yang’s political messages.

Lining the Crypto Coffers

Yang’s most significant real-world endorsement of cryptocurrency to date has come in the form of his campaign’s fundraising. Yang 2020 is open to cryptocurrency donations (not exactly a first, but still a novelty in mainstream American politics), including bitcoin, ether and any other ERC20 token.

This fundraising option may have been central to Yang’s biggest victory to date. Earlier this week, his ability to crowdsource contributions brought him into the running to participate in the first debate hosted by the Democratic National Committee.

“On Monday morning, Yang’s contributions topped 65,000 individual donors across 20 states, making him eligible to appear at the first debate,” the Daily Hodl reported. “The debates will be limited to 20 candidates. Yang may join more well-known candidates such as Bernie Sanders, Elizabeth Warren, Cory Booker and Kamala Harris.”

An Outspoken Advocate

During a Facebook AMA last summer, Yang was asked directly about his outlook on cryptocurrency and blockchain technology. He was quick to say that he’d embrace the solutions as ones he would make use of in office.

“The blockchain has immense potential to enable transparency and trust and data flows where it could enable secure voting for a democracy like ours. It could make transactions possible that right now involve massive law firms and accounting firms and the like,” he said. “And it could help provide the foundation for the digital social currency that I’m very much for. So, I love the potential of it.”

It’s not uncommon for politicians to evoke blockchain technology as a silver bullet that they will leverage to solve the world’s problems. But something about Yang’s background, campaign, legislative proposals and social media presence makes him stand out as an apparent friend of decentralized technology. He may be a longshot for the Democratic nomination, but he seems to have already locked up the blockchain party.

Image via Yang202.com

A Former CFTC Chairman’s Plan for Federal Crypto Regulation

Timothy Massad, the former chairman of the Commodity Futures Trading Commission (CFTC), has outlined a case for better (read: stricter) federal crypto asset regulation in a substantial report for the Brookings Institute, “It’s Time to Strengthen the Regulation of Crypto-Assets.”

Square to Hire Full-Time Team of Open-Source Bitcoin, Crypto Contributors

Source: Twitter

Jack Dorsey, founder and CEO of social media giant Twitter and mobile payments company Square, announced that he is hiring a handful of full-time employees for the latter who will work on open-source contributions to the Bitcoin and cryptocurrency ecosystem. He added that the work done by this team, made up of three or four engineers and one designer, will be independent of Square's business objectives and all resulting work will be open and free.

Will #DeleteCoinbase Hurt Cryptocurrency Adoption?

There has been no shortage of news regarding trust issues in the cryptocurrency sphere. For example, the recent death of QuadrigaCX CEO Gerry Cotten revealed that he personally held the keys for the company’s reserves and they were lost, leaving platform users dependent on the Canadian justice system for a solution.

Huobi Introduces Coin Launch Platform

Source: Huobi

The Singapore-based cryptocurrency exchange Huobi has announce that "Huobi Prime," a coin launch platform, will go live on March 26. The service will allow professional and retail investors to purchase new cryptocurrencies before they are listed more broadly and potentially at lower costs. The announcement appears to compete with Binance's Launchpad service.