Bitcoin, cryptocurrency, and blockchain awareness got a big boost from bitcoin’s epic 2017 bull run, which has been furthered by some of the world’s biggest technology companies jumping into bitcoin and crypto.
The bitcoin price, although it remains far under the near $20,000 per bitcoin it reached in late 2017, has rebounded strongly this year, rising some 200% and helping bitcoin and crypto back into the mainstream conversation.
Now, bitcoin, crypto, and blockchain have become a big 2020 U.S. presidental issue thanks to Democratic presidential hopeful Andrew Yang endorsing blockchain, bitcoin’s underlying technology, shortly after U.S. president Donald Trump tweeted about bitcoin and U.S. Tresury secretary Steven Mnuchin shocked the crypto industry by labelling bitcoin a national security issue.
Yang, who is heavily campaining on the risks of automation to the economy, has promised to implement a blockchain-based mobile voting system if he wins upcoming U.S. presidential election.
“It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths,” Yang wrote on his campagin website.
“It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain. This would revolutionize true democracy and increase participation to include all Americans—those without smartphones could use the legacy system and lines would be very short.”
It’s not the first time Yang has spoken about bitcoin, crypto and blockchain.
In April, Yang called for clearer guidelines for companies and individuals on bitcoin and cryptocurrency acceptance and investments—while also talking up blockchain.
Just last month, Humanity Forward Fund, a political action committee supporting Yang, announced it would begin accept bitcoin donations.
Elsewhere, the outspoken former Republican congressman and presidential candidate Ron Paul has also voiced his support of bitcoin, cryptocurrencies and blockchain, telling CNBC last month more competition between currencies is a good thing.
The 2020 U.S. presidential election, now under 18 months away, is already gearing up to be the fiercest election ever fought in the U.S.—with both sides determined to prevent the other from winning.
The bitcoin and cryptocurrency world was left reeling after Trump unleashed a scathing attack on bitcoin and cryptocurrencies, branding them “unregulated crypto assets” and based on “thin air,” following social media giant Facebook’s unveiling of its potential bitcoin rival, libra.
Trump has long had a fractious relationship with Facebook, which he has accused of trying to swing the 2016 U.S. presidential election in favour of Hilary Clinton and which has also been accused of failing to prevent U.S. voters of seeing illegal pro-Trump ads.
Trump’s attack on bitcoin and crypto was called “the largest bull signal for [bitcoin] ever,” by one crypto industry executive.