Brian Forde puts cryptocurrency campaign contributions into perspective and says that blockchain technology can help Americans serving overseas have their ballots reliably counted. Crypto campaign contributions have totaled $550,000 since 2014 which is .032% of the total $1.7 billion raised. Crypto Critics have said that crypto currencies encourage laundering, are anonymous, or cannot be inspected easily which Forde refutes saying requirements are at least as high as check or credit card.
- Can blockchain technology create a reliable way to vote online?
- Does cryptocurrency enable illegal campaign finance more than traditional finance?
- Can cryptocurrency actually cut down on illegal campaign finance?
Brian Forde most recently ran for U.S. Congress in California’s 45th district and was the founding Director of the Digital Currency Initiative at MIT. Previously, he was a Senior Tech Advisor in the Obama White House.
On the eve of the most important election of our time, we’ve seen what misinformation gets us. Fear of the unknown, fear of change. In these times, we need to be vigilant about how we examine what’s new or different.
Hundreds of articles have been written about campaign contributions made with cryptocurrencies — and all too often they get it wrong. Many of these articles are riddled with factual errors, but more distressingly engender fear of something new based on a deep misunderstanding.
I know because, during my recent run for Congress, approximately $300,000 of my campaign contributions were donated in cryptocurrency.
I wasn’t a fringe candidate who rails against the government. I was a Senior Tech Advisor in President Obama’s White House who wrote the White House memo on Bitcoin and briefed the president on the technology.