According to a report from Bloomberg, On 15th May, Democratic Presidential Candidate for the 2020 elections Andrew Yang Believes that Blockchain should be a big part of the future of the United States. Yang, who is especially popular for his stance on progressive pro-universal basic income expressed his views about blockchain at the Consensus conference in New York.
Andrew Yang is an entrepreneur, philanthropist, politician and is also the founder of Venture America. Yang is running as a Democrat in the 2020 presidential race and had recently revealed a digital-asset platform, said he’d like to see greater regulatory frameworks for the community and its underlying blockchain technology. Yang he that this could help spur new innovation. His role as a supporter of blockchain isn’t new fangled either, In July 2018, he tweeted, “The blockchain has a wealth of potential. Could make many things more secure transparent and efficient.”
In a keynote speech at the Consensus conference, Yang emphasised on his crypto agenda by saying, “If I’m in the White House, oh boy are we going to have some fun in terms of the cryptocurrency community.” As part of his manifesto he has also pledged to: “Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.”
After Yang published a bare framework for the regulation of cryptocurrencies, in which he calls for clear definitions of token and tax rules relating to cryptocurrencies, he is also upholding to improving clarity over which agencies have regulatory capabilities, among other things. These factors have made the crypto community support Yang as well.
“We just need to provide rules of the road,” Yang said in an interview on the sidelines of the conference. “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,” adding that the consumer protection aspect of his platform could loosely be based on existing security law.
Although Yang has no direct investments in the form of tokens of any cryptocurrencies, He has invested in at least one channel that has some holdings, he said. Yang accepts cryptocurrencies for his campaign funds.
The under-the-radar candidate is best known for his stance on universal basic income, i.e. providing citizens over the age of 18, a guaranteed $1,000 per month. This is being planned in an attempt to cushion the blow of the loss of jobs due to automation and advancements in existing technologies. This move could potentially stave off another crisis.
Yang has been gaining a lot of popularity in a competition which already has a lot of contenders. Yang’s online following has grown over the past two months as he’s made his rounds around the country. He announced recently that’s he’s crossed the Democratic National Committee’s threshold of 65,000 donors to participate in the first debates.