Andrew Yang, a 2020 US Presidential candidate, has recently announced that he will be accepting donations in cryptocurrency for his campaign.
Yang’s campaign members confirmed on Monday that they would take a maximum of $2,500 in Bitcoin (BTC), Ethereum (ETH), or ERC-20 based tokens. Additionally, the campaign’s supporters may donate up to $2,700 through Venmo, a PayPal owned mobile payment service.
In order to make donations in cryptocurrency, people will have to verify that they’re eligible to vote by filling out a form. If approved, a cryptocurrency address will be sent out to them for making donations.
A Supporter Of Universal Basic Income (UBI)
Notably, Yang appears to be quite fond of technology given that his campaign events have been broadcasted via Twitch.tv, a live video streaming platform that lets users accept tips in cryptocurrency. The second-generation Chinese American has also used Instagram TV, a newly launched long-form video sharing platform, for his broadcasts.
Moreover, Yang believes in humanitarian causes such as the idea of universal basic income (UBI), which is a proposed payment program for a country’s citizens that has been strongly recommended by Facebook founder Mark Zuckerberg. If approved, UBI recipients would get a fixed amount of money each month from their government.
“Equal Pay” For The Same Work
The idea that all individuals should receive some money every month regardless of their background or status, or UBI, has been one of the main driving factors of Yang’s presidential campaign. This concept has also made its way into the crypto world with the launch of Swift Demand.
According to its official website, Swift Demand is “an attempt at basic income” and appears to be on its way to becoming a cryptocurrency. At present, the platform’s developers are reportedly working on developing the technology which would help implement the Swift Protocol. While its creators have not made any promises, their goal is to be able trade the Swift cryptocurrency on exchanges.
It appears that the concept of trying to balance the distribution of money is one of the objectives of the Swift Demand platform, which is also one of Yang’s primary policies. The 43-year entrepreneur’s campaign website states,
For most of this country’s history, marginalized groups were either not allowed to participate in certain jobs, or their opportunities in those professions were limited. This legacy persists today not only in the opportunities afforded to people, but also in the compensation people receive for performing the same work...The federal government must do more to ensure that anyone performing the same work in substantially similar situations should receive equal pay.
Interestingly, Yang’s policies and views seem to be quite similar in some ways to the decentralized concept of cryptocurrencies. Centralized banking institutions and authorities have been controlling the world’s money supply, which many crypto enthusiasts argue has led to wealth inequality.