This article was written by David Hamilton, a CoinCentral author.
The World Wide Blockchain
Blockchain technology is transforming global economics in a major way. This game-changing technology reduces inefficiencies in the current business systems by providing a more secure alternative to the status quo. Blockchain technology is less than 10-years old and already, the progress that has been achieved is inspiring. However, despite the obvious technical advantages blockchain brings to the world economic stage, it appears that it will ultimately be the politicians who have the power to push the adoption of this revolutionary technology forward.
It’s no mystery that politicians and blockchain don’t always meld well. Consequently, a simple Google search can reveal a plethora of ill-informed politicians speaking negatively about blockchain technology. In most instances, it’s obvious that they have very little understanding of what they are talking about. Thankfully, not all politicians are anti-crypto and there have been some very important politicians that have come to the aid of cryptocurrencies when they needed it most. Below are 10 pro-blockchain politicians that have helped move crypto adoption forward.
Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum – Dubai
The Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum has been a huge advocate for blockchain technology. Dubai has long been a front-runner in the race for blockchain adoption with government officials stating that they intend to be the first fully blockchain-powered government by 2020. The government is planning on implementing a system to utilize blockchain technology for all transactions and development is already underway. Dubai has also recently issued its own cryptocurrency.
President Nicolás Maduro – Venezuelan
The Venezuelan President Nicolas Maduro made headlines earlier in the year when he announced that his country would be the first to offer a government-backed cryptocurrency. Even more impressive was the fact that the country hosted an ICO that raised $735 million to launch the Petro Coin. For the last five years, Venezuela has been plagued with economic sanctions and crushing inflation. However, the President is hoping that the new currency can help to alleviate these concerns. As you could imagine, not everyone is happy about the maneuver with US President Trump banning citizens from investing in the cryptocurrency.
Prime Minister Malcolm Turnbull – Australia
Australia is shaping up to be a very pro-blockchain country thanks to the support of politicians such as Australia’s Prime Minister Malcolm Turnbull. Turnbill recently sent a request to the Digital Transformation Agency to approve a $530,000 blockchain research funding initiative on May 22, 2018. The research will be directed at studying how to best leverage blockchain technology in governmental systems. Australia has seen an explosion in blockchain startups over the last year and the Prime Minister is hoping to capitalize on the new market.
Dmitry Golubov – Ukraine
Last year, some interesting developments occurred between officials and regulators regarding cryptocurrencies. Perhaps, none more so than in Ukraine when three politicians were forced to reveal they held over $50 million in BTC holdings during regulation debates. The news agency, Ria Novosti, revealed that Dmitry Golubov alone held 8,752 BTC. The incident made international headlines since Ukraine is currently experiencing debilitating poverty in many parts of the country. It was used to highlight the growing disparity between the nations rich and poor.
George Galloway – Great Britain
George Galloway is a strong advocate for blockchain technology, and in 2015, he proposed a blockchain-based expenditure tracking system to improve transparency in government. The project was dubbed Mayor’s Chain. The mayoral candidate spoke on numerous occasions regarding how blockchain technology could transform political accountability and add trust back into our political systems.
Brian Forde – Democratic Congressional Candidate – USA
It’s not often that you discover a politician that you feel has a stronger understanding of blockchain technology than yourself but in the case of Brian Forde, that is probably true. Forde is no stranger to the blockchain, as it turns out, he worked extensively with it during his time as the Director of Digital Currency for the prestigious MIT University. In addition, he was also the Technology Advisor for former President Barack Obama. Forde has always helped push for more blockchain integration in the government and he is considered the candidate of choice by many crypto investors.
Jared Polis – Congressman USA
Jared Polis has been a strong advocate for blockchain technology and in 2014, he gained the trust of the blockchain community when he openly criticized politicians looking to ban BTC. He went so far as to say “The dollar is the currency that should be banned.” To top it all off, he said he would rally against any organization looking to hinder digital currency development. This guy is serious about his blockchain and he isn’t afraid to defend the technology from politicians that lack an understanding of its benefits.
Minister of Science and IT Yoo Young-min – South Korea
South Korea is one of the core markets for cryptocurrencies and there is a good reason for this. The Minister of Science and IT, Yoo Young-min is a big blockchain supporter. Consequently, during the January Korean crypto scare of this year, it was Young-min who pushed for continued development into blockchain integration. Young-min is seeking to have cryptocurrencies and blockchain technology regarded as separate entities for regulation purposes. However, this could prove to be a difficult argument because BTC was the world’s first blockchain use case. Consequently, many believe that separating the two is impracticable.
Gov. Ricardo Rossello – Puerto Rico
What do you do when your country is destroyed by Vulture bonds and the hurricane of the century? You turn to the blockchain. Puerto Rico’s Governor Ricardo Rosello is welcoming blockchain startups with open arms. In a show of support, the Governor recently spoke directly at the “Puerto Crypto” conferences held on the island. Here, he personally thanked all of the firms involved in the initiative and he affirmed the country’s commitment to blockchain innovation. The island is in desperate need of economic stimulus and it could be that blockchain technology is the perfect boost.
In January, nobody was sure what Russia was going to do with cryptocurrencies. However, this was before Vladimir Putin stepped up and endorsed blockchain technology to the fullest. On January 24th of this year, Putin demanded that lawmakers stop hindering the development of these technologies. Furthermore, he expressed the importance of becoming a global leader in the field. He even hinted at Russia creating a national crypto Ruble to compliment the county’s fiat currency.
Thanks to the efforts of these individuals, and so many more, the blockchain movement has managed to see continued expansion. Blockchain technology is here to stay and the quicker that full-scale adoption is achieved, the better it will be for all parties involved. Like it or not, blockchain technology needs politicians to move adoption forward and spur investment. Who knows, you may a see a “Satoshi for President” poster in your neighbor’s yard in the near future.