The California Fair Political Practices Commission has proposed to make political donations in the form of Cryptocurrency. It means that if this bill approved, then public office candidates in the US can soon start to accept the cryptocurrency donations.
Like most countries in the world, the US department has also faced the hassle of dealing with the election issues. In this regard, California has proposed to mitigate those issues using cryptocurrencies.
Although we have seen there is great hype for usage of cryptocurrency but it does take some time and effort to understand and adopt the new technologies. Possibly the members are showing hinderance as there due to lack of required knowledge.
As per Chairwoman Alice Germond stated that,
“I would be inclined to think that bitcoin is a thing that is not US money but is more like a currency, like the Euro. But I would like to hear more to develop my thinking on this”
Also, other important folks from public office, Commissioner Allison Hayward went on to explain that the cryptocurrencies are “new and designed to be confidential“.
But Allision seems to be having immense hope blockchain technology and went on to state that, “this technology will ultimately be a very robust tool in tracing activity.”
It is noteworthy to mention that, $100 USD was made available as funds for political donations for the coming midterm elections. Although this is not the official statement of adoption, the government is seeking to make further study in this direction and come up with an appropriate plan next year.
This is not the first instance where cryptocurrency or blockchain technology being used in a political system in the world. Earlier this year we have seen Sierra Leone elections run based on blockchain technology and many such examples.
All these instances are an example which indicates blockchain is the future of tomorrow generation. What do you think of this adoption? Let us know your thoughts in the comment section below.
Join the newsletter to receive the latest updates in your inbox.