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Two Pro-Bitcoin Candidates Bid for 2020 US Presidential Election – Good for Digital Dollar?

Whatever it is, the upcoming 2020 US presidential election has at least two bitcoin-friendly candidates – Kanye West and Brock Pierce.

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News in Brief

  • The world’s best-selling musician and bitcoin-friendly singer Kanye West has announced his US presidential bid on Independence Day. 
  •  American entrepreneur and Chairman of Bitcoin Foundation, Brock Pierce has also announced his candidature for the U.S President election.
  • Will the United States move faster towards the Digital Dollar? 

Pro-Bitcoin Candidates for US Presidential Election

While the present US president “Donald Trump” had said the value of Bitcoin and cryptocurrencies are based on “thin air”, situations would be completely different if any of these Pro-Bitcoin Candidates win the US presidential election. 

And not to forget, it would also be interesting for the Digital Dollar that country has been talking about. 

Brock Pierce Joins the 2020 Elections

Brock Pierce, a venture capitalist and co-founder of EOS Alliance, Block. one, Blockchain Capital, Tether, and Mastercoin (first ICO), has filled his candidature for the upcoming US Presidential Election as an Independent Candidate.

He has laid a campaign with IT GETS BETTER FROM HERE.

Talking about his decision to contest in the Presidential Elections in November 2020, he says,

“ I’ve spent my life creating great things from nothing and I can help others do the same. Entrepreneurs are essential to the rebuilding of this nation that we love, and I’m running in this race because I know that together we can help build a pathway towards the rebirth of America we love so much.”

Bitcoin-friendly Kanye West Running for 2020 Election

Brock’s move came within a day after noted rapper Kanye West announced his run in the Presidential race. However, both Kayne West and Brock Pierce are yet to file their candidature with the Federal Election commission.

Back in 2018 when he appeared in an interview with television personality Charlamagne, he elaborated his concern of owning and using bitcoin, sidelining the style of $20 bill.

That being said, Kanye West’s entry in the presidential race is viewed as strong competition and apparent challenge to Trump. Despite that, West is also backing SpaceX’s CEO Elon Musk who is also quite active in the crypto industry. While responding to West’s announcement, former CEO of Dogecoin, Elon Musk said, “You have my full support”.

Does the Digital Dollar Project Get a Boost?

Digital Dollar, a joint venture of Accenture and Digital Dollar Foundation are working together to make Dollar much better and smarter currency. 

Brock being a pioneer in the digital currency market, will he fuel the development?

Brock is well known for creating a job and has a great track record of raising more than $5 billion for companies he has founded. As per some reports he is seen as the leader in the world of blockchain, gaming, and media.

According to a report, the tether stable coin has a market capitalization of more than $9 billion and ranks third after Bitcoin and Ethereum. Hence, the Digital Dollar project under Brock could get a boost with speed and all the required elements to build a smarter dollar.

Also read – Drop of Crypto Proactive US Presidential Candidate Raises Concern Over Crypto Future in US

Will Digital Dollar be a Threat to Digital Yuan?

Now, when the Digital Yuan is already launched in limited places for trials and Facebook is striving hard to launch Novi (formerly known as Libra), the US may speed up the development of Digital Dollar. 

Recently, Digital Dollar proposals were included among the US Coronavirus-induced stimulus bill. A provision was included to make payments in Digital Dollar to people and businesses which were affected by COVID-19. This unfortunately failed. 

But in this pandemic situation where the country’s financial situation is performing negatively, the US may push the Digital Dollar to strengthen the economy. It may reversely affect the Digital Yuan coin, as it aims to gain supremacy in the digital currency market. 

You may also be interested in – China one more step closer to replace cash with Digital Yuan – Former President PBOC

In a nutshell, China is closer to launching its Digital Yuan. More so, it is likely trying to counter the US dollar supremacy in the international market. But if the US launches Digital Dollar in the near future, it will likely impact China’s CBDC.

Well, there would be a very competitive time for these two currencies if it happens.! 

What do you think about Kenya and Brock as Pro-Bitcoin Candidates bidding for US presidential election? Let us know in the comment below.

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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