Andrew Yang, a U.S. presidential candidate in the 2020 elections, argues that the rush around the cryptocurrency has outpaced the development of this space, while also expressing confidence that future real developments will compensate for excessive expectations.
"I have many friends in the cryptocurrency community, and I believe in fundamental technology in particular. Blockchain has a lot of possibilities. In many ways, it follows the path of other technologies. The excitement has been a little swollen, but the technology itself is very strong. In these cycles, the excitement tends to be ahead of the curve, but when the air comes out of the bubble, reality will eventually catch up," Yang said during Sunday's interview.
One part of Yang's campaign is to give families in the United States a monthly allowance of $1,000. When asked if Bitcoin could be a tool for paying the unconditional basic income or, as Yang himself calls it, a "freedom dividend," he said, "I like the way you think.
Earlier, Yang promised to streamline the regulation of the cryptocurrency market in the U.S. if elected president.
He also supported the idea of voting with blockchain. "It's ridiculous that in 2020 we still have to wait for hours to vote in outdated voting booths," he said. The proposal, however, was met with skepticism because of the possible risks of cyber security.
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